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Popular Annual Financial Report (PAFR)



The purpose of this report is to summarize and simplify the presentation of information contained in the Comprehensive Annual Financial Report (CAFR) 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.

You can view, print, and download these portable document format files below:

If you have questions or comments regarding the Popular Report, contact the Financial Reporting Unit of the Department of Accounts.