City Receives Award for Excellence in Financial Reporting

Wednesday, August 15, 2012

For the 31st consecutive year, the City of Virginia Beach has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada for its Comprehensive Annual Financial Report (CAFR).


The award was recently presented to Finance Director Patricia A. Phillips by the professional association, which serves more than 17,500 government financial professionals.  The Certificate of Achievement 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.



“The City of Virginia Beach believes in the spirit of full disclosure to clearly communicate our financial story,” Phillips said. “Receiving and maintaining this prestigious award is no easy task, as each Comprehensive Annual Financial Report is subjected to thorough scrutiny by an impartial panel.  The attainment of this award further demonstrates the transparency of the City’s financial position. We are very proud to have been honored again this year.”


Citizens may view the report online or by visiting any Virginia Beach Public Library location.  For more information, call (757) 385-4508.