Country: USA, Washington DC
Service: Accounting/Financial Management/Management Consulting
Year: 2012 - 2016
Project: Strategic Planning; Financial Advisory and Consulting; Compliance audit; and Internal Control Assessment
Project Description: DC Water was established in 1996 under DC Law 11-111, "The Water and Sewer Authority Establishment and Department of Public Works Reorganization. DC Water provides retail drinking water distribution and wastewater conveyance and treatment services to approximately 650,000 residential, commercial and governmental Clients in the District of Columbia, and wholesale wastewater conveyance and treatment services to approximately 1.6 million users in Montgomery and Prince George’s Counties in Maryland, and Fairfax and Loudoun Counties in Northern Virginia. DC Water is governed by a Board of Directors consisting of eleven principal and eleven alternate members who represent the District of Columbia, Montgomery and Prince George’s Counties in Maryland, and Fairfax County in Virginia. With total assets of over $6 billion, operating revenues of $500 million, and operating expenses of $400 million, DC water employs about 1,118 people at its various facilities throughout the District of Columbia.
As part of its effort to improve operational efficiency and effectiveness, DC Water contracts with IBS Management and Consultancy Services (IBS) to provide a range of advisory and consulting services. This ongoing advisory and consulting support includes: supporting the accounting and finance department with financial statement preparation and audit readiness; the facilitation of the development of the most recent DC Water Strategic plan “Blue Horizon 2020”. The strategic plan includes updated/new – Vision, Values, Mission, Focus Areas, Objectives and Strategic Initiatives from 2013 through 2020. The completed work included clearly defined management initiatives and financial impact of all defined initiatives, milestone measures for monitoring progress on initiatives, and performance goals and targets for evaluating and measuring effectiveness of goals. We also reviewed grant applications status reports, milestone achievements, and assisted in grant close-out activities.
Other services being provided in support of the Strategic Plan initiatives include project management, fiscal and budget process reviews, accounting and financial operations reviews, and procurement management support. IBS under this initiative, is also assisting DC Water review program performance and operating policies and procedures and processes to identify areas for improvement; develop methods and approaches in evaluating programs and outcomes; improve budget preparation and execution processes; and improve accounting operations. IBS also assisted in the review of low income subsidy program to identify risks associated with determining participants’ eligibility and improper or unauthorized subsidy granted to participants, with the view of reducing improper payments.
541611 Admin Mgmt. & Gen. Mgmt. Consulting Services
541990 All Other Professional, Scientific & Technical Services
541211 Certified Public Accountants
541219 Other Accounting Services
541618 Other Mgmt. Consulting Services
541690 Other Scientific & Technical Consulting Services
561110 Office Admin Services
561499 All Other Bus. Support Services
611430 Prof. & Mgmt. Dev. Training
Certified Small Disadvantaged Business (SBA-8a, DC, MD, VA, PA and NJ)
SBA 8(a) - Program Code/Case Number is 307466.
Certified Minority Business Enterprise
CAGE : 6VUR3; DUNS: 078664340
1627 K St, NW, Suite 500
Washington, DC 20006
13201 14th Street
Bowie, MD 20715