The CPS
 

What is a CPS ?

A commercial practices system (CPS) defines the business policies of water districts adopting the LWUA-prescribed standard systems and procedures, to effectively account for all transactions, safeguard the assets, promote operational efficiency and provide uniform management information and reporting.


Why is there a need for CPS Installation?
CPS installation is needed for the following:
To provide on-the-job training and orientation of water district personnel on the different aspects of the commercial practices system (CPS);

To establish uniform accounting systems and procedures and financial reporting among water districts nationwide; and

To set up internal control procedures on financial transactions and physical properties of the water districts.


What are the benefits from the use of CPS ?

The standard systems and procedures benefit the water district in the following ways:
    Streamlined procedures, systematic report preparation, and the appropriate distribution of workload result to a more efficient operation in terms of minimal error, if any, timely and reliable reports, savings on supplies and manpower cost, and maximized utility of operating resources;

    Timely and accurate financial and accounting reports make for improved performance evaluation and better decisions;

    Improved working relationship between and among management and the different functional units brought about by proper delineation of functions; and

    Improved management of assets and other resources and minimized losses through the institution of internal control measures.


What is required before CPS installation ?
The following must be present before CPS is installed
Advisory assistance is being extended to the water district;

Qualified personnel have been hired; and

The books of account required forms have been printe.