Newsroom

Virginia Retirement System Receives Awards for Excellence in Financial Reporting

The Virginia Retirement System has received awards for its Annual Comprehensive Financial Report and Popular Annual Financial Report (PAFR) for fiscal year 2022 from the Government Finance Officers Association of the United States and Canada (GFOA). This is the 41st consecutive award for the annual financial report and the seventh consecutive award for the PAFR.

The VRS annual report received GFOA’s Certificate of Achievement for Excellence in Financial Reporting, which recognizes excellence in governmental accounting and financial reporting. The PAFR received an Award for Outstanding Achievement in Popular Annual Financial Reporting for its summary of financial, investment and statistical information derived from the comprehensive report.

In addition to commending VRS for excellence in accounting and reporting, GFOA noted that VRS demonstrated a “spirit of full disclosure” in communicating its financial information and motivating users to read the comprehensive report, and for the clarity and visual appeal of the popular report.

“We are honored to receive these awards from GFOA,” VRS Director Patricia S. Bishop said. “VRS continues a longtime tradition of reporting extensive financial information with accuracy and transparency. Our staff collaborates to produce annual reports that achieve GFOA’s high standards for accounting and financial reporting and also serve as engaging chronicles of VRS’ accomplishments during the fiscal year.”

GFOA is a professional association serving more than 20,000 public finance officials in the United States and Canada. For more information on the awards and GFOA, visit gfoa.org/coa-award and gfoa.org/pafr-award.