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This audit found that the Water
Infrastructure Finance Authority has developed processes for prioritizing
public drinking water system and wastewater system projects, but additional
review steps could help to ensure that eligible projects are accurately scored
and the project interest rates appropriately determined. This report also
discusses how the outdated federal formula used to allocate Clean Water State
Revolving Fund monies does not recognize Arizona’s needs, the significant
costs the State faces to comply with the new federal arsenic drinking water
standards, and opportunities identified by WIFA’s external auditors to
strengthen its internal controls over its accounting and financial reporting
systems.
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