RICHMOND, August 28, 2019 — For the 37th consecutive year, the Virginia Retirement System (VRS) has received an award for its Comprehensive Annual Financial Report (CAFR) from the Government Finance Officers Association of the United States and Canada (GFOA).
VRS was awarded the Certificate of Achievement for Excellence in Financial Reporting for governmental accounting and financial reporting.
In awarding the Certificate of Achievement, GFOA announced that "it is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management."
GFOA announced that VRS had met high standards and had demonstrated a constructive "spirit of disclosure" in communicating its financial story and in motivating potential users to read the CAFR and for clearly communicating its financial story.
"We are pleased and honored to be recognized by the GFOA for the quality of our annual financial report," VRS Director Patricia S. "Trish" Bishop said. "Our team works constantly to maintain high standards of transparency and clarity. We are always mindful of and motivated by our goal of providing exceptional customer service to our members and stakeholders."
GFOA is a professional association serving more than 20,000 appointed and elected local, state and provincial-level government officials and other finance practitioners.