Reports
The Annual Comprehensive Financial Report is presented in three main sections:
- The Introductory Section includes a financial overview, discussion of the Virginia economy, and organization charts for State government.
- The Financial Section includes the state auditor's report, management's discussion and analysis, audited basic financial statements and notes thereto, and the underlying combining and individual fund financial statements and supporting schedules.
- The Statistical Section sets forth selected unaudited economic, financial trend and demographic information for the state on a multi-year basis.
If you have questions or comments, please contact the Financial Reporting Unit.
Popular Annual Financial Report (PAFR)
The purpose of this report is to summarize and simplify the presentation of information contained in the Annual Comprehensive Financial Report of the Commonwealth of Virginia. The Commonwealth's financial statements are prepared in accordance with generally accepted accounting principles and are independently audited by the Auditor of Public Accounts. Much of the information in the audited financial statements is necessarily technical and complex. As a result, the full financial statements may not be particularly useful to the citizens of the Commonwealth who wish to better understand state government finances.
Over the last several years, state and local governments have begun issuing simplified financial reports. These are often referred to as "popular reports." These reports are intended to better inform the public about their government's financial condition, without excessive detail or the use of technical accounting terms.
This report summarizes and explains the information contained in the financial statements for the last fiscal year, along with other information on the Commonwealth's finances, in easily understood terms. This report represents the ongoing commitment of Commonwealth officials to keep Virginians informed about state finances, and to be accountable in all respects for the receipt and expenditure of public funds.
If you have questions or comments, please contact the Financial Reporting Unit.
Preliminary Annual Report
The Preliminary Annual Report is comprised of budgetary (cash) basis financial statements that present the financial condition, results of operations, and changes in fund balance of the Commonwealth's General Fund. The notes to the financial statements are an important and integral part of the statements.
This preliminary report is presented on an unaudited basis. In preparing this report, we relied upon the internal accounting controls of the Commonwealth that are designed to provide management with reasonable, but not absolute, assurances that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and are properly recorded to permit the preparation of financial statements.
The final Annual Report of the Comptroller, due on December 15, will include certain accruals and other information required for conformance with generally accepted accounting principles. It will be audited and will include any material adjustments recommended by the Auditor of Public Accounts.
If you have questions or comments, please contact the Financial Reporting Unit.
Report on Monthly Analysis of Cash and Investments
The Report on Monthly Analysis of Cash and Investments presents the cash position of the Commonwealth as reconciled to the Department of the Treasury. It reflects the monthly activity and ending balances of the General Fund, as well as ending restricted and unrestricted cash balances.
If you have questions or comments, please contact the Financial Reporting Unit.
Statewide Financial Management and Compliance (Quarterly Report)
The Comptroller's Report on Statewide Financial Management and Compliance (Quarterly Report) is a summary of measures used by DOA to monitor transactions involving public funds and report findings to the Governor, his Cabinet, and other senior State officials. The Quarterly Report uses exception reporting and summary statistics to highlight key findings and trends. The Department also provides additional detailed statistics for agencies and institutions of higher education.
If you have questions or comments, please contact Compliance Oversight and Federal Reporting.
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Virginia Truth in Revenue Source Reporting
Overview
In accordance with the requirements set forth in the Virginia Truth in Revenue Source Reporting Act, posted below are reports from Cardinal, the official accounting system for the Commonwealth. The reports show revenues collected by the Commonwealth by the Account ChartField. Beside each Account is its title, which will provide a description of the revenue collected. The Commonwealth operates on a fiscal year of July 1st through June 30th. Each report posted below provides cumulative year-to-date data. December’s report includes revenues collected from July 1st through December 31st, and June’s report includes data for the entire fiscal year, July 1st through June 30th.
There is one Cardinal report run with different sort criteria, which reports the same data in different formats. The formats are as follows:
- Revenue Status Report from Cardinal – sorted by Business Unit (Agency), Fund, and Account. Within each agency the revenue collections are shown by fund. Each fund will show revenue collections by the actual revenue account.
- Revenue Status Report from Cardinal – sorted by Fund, Account, and Business Unit (Agency). Within each fund revenue collections are shown by the actual revenue account. Each revenue account will list every agency that has had collections for that revenue account.
As of June 30, 2024, the Department of Accounts has not identified any control findings issued by the Auditor of Public Accounts that pertain to the use of revenue.
The Auditor of Public Accounts reports that all transfers set forth in Part 3 of the Appropriation Act, Chapter 769, Virginia Acts of Assembly, 2023 Reconvened Session, for June 2023 (PDF), Chapter 1, 2023 Virginia Acts of Assembly, Special Session I for December 2023 (PDF), and Chapter 1, 2024 Virginia Acts of Assembly, Special Session I for June 2024 (PDF), except those transfers representing payments for services, or those transfers necessary to execute the intended purpose of revenue collections, meet the conditions prescribed for posting in the Virginia Truth in Revenue Source Reporting Act.
Corrective Action Plan – Single Audit
In accordance with CFR §200.511 Audit findings follow-up (c) Corrective action plan, the State Comptroller of Virginia (auditee) must prepare, in a document separate from the auditor's findings described in CFR §200.516 Audit findings, a corrective action plan to address each audit finding included in the current year auditor's report. The corrective action plan also cites findings relating to the financial statements, which are required to be reported in accordance with Generally Accepted Government Auditing Standards. The corrective action plan cites the reference number the auditor assigned to each auditing finding, name(s) of the contact person(s) responsible for corrective action, the corrective action planned, and the anticipated completion date. The corrective action plan does not express a disagreement with any of the audit findings nor does it disclose that corrective action is not required.
Certain corrective actions planned are not contained in this corrective action plan because they contain descriptions of security mechanisms and are Freedom of Information Act Exempt under §2.2-3705.2 of the Code of Virginia. Federal awarding agencies or pass-through entities needing such information in formulating their management decisions as required by CFR §200.521 Management decision, should communicate with the contact person responsible for the respective corrective action planned to address the audit finding.
American Rescue Plan Act Recovery Plan Report
States, territories, metropolitan cities, and counties with a population that exceeds 250,000 residents are required to publish and submit to the U.S. Department of the Treasury (Treasury) a Recovery Plan performance report (Recovery Plan). The Recovery Plan provides the public and Treasury information on the projects recipients are undertaking with program funding and how they are planning to ensure program outcomes are achieved in an effective, efficient, and equitable manner. The Recovery Plan includes key performance indicators mandated by Treasury. The initial Recovery Plan covers the period from the date of award to July 31, 2021. Updated versions include information through the date specified.
