VRE recognized for excellence in financial reporting
The Virginia Railway Express (VRE) has received its 12th consecutive Certificate of Achievement for Excellence in Financial Reporting for its comprehensive annual financial report. The certificate, awarded by the Government Finance Officers Association (GFOA), is the highest form of recognition in governmental accounting and financial reporting. An impartial panel determined that VRE’s financial report for fiscal years 2017 and 2018 met the association’s highest standards, “which include demonstrating a constructive ‘spirit of full disclosure’ to clearly communicate its financial story and motivate potential users and user groups to read the report,” according to the GFOA.
“Transparency in financial reporting is an obligation that VRE takes seriously,” said Doug Allen, the commuter railroad’s CEO. “We are committed to ensuring that our riders, the jurisdictions that help fund our service, and anyone with an interest in VRE can understand and appreciate our financial position. This certificate is testament to the oversight provided by our Operations Board and the hard work of VRE staff.”