Financial Reports
VRA prepares an Annual Comprehensive Financial Report (ACFR) for each fiscal year ending June 30th. The ACFR is a set of financial statements that complies with accounting requirements established by the Governmental Accounting Standards Board. It must be audited by an independent auditor using generally accepted government auditing standards.
The Government Finance Officers Association has awarded the Certificate of Achievement for Excellence in Financial Reporting to VRA for its most recent ACFR. VRA’s ACFR has been judged by an impartial panel to meet the program’s high standards, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report.
The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. VRA has received the award each year since 2008.