The Comprehensive Annual Financial Report (CAFR) 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.
The Commonwealth was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officer's Association (GFOA) for its CAFR for the fiscal year ended June 30, 2012. The Commonwealth has received this Certificate of Achievement for the last 27 consecutive years (fiscal years 1986-2012).