VRE honored for financial reporting

Rail News Home Financials 7/10/2019 Rail News: Financials
The Government Finance Officers Association determined that VRE’s financial report for fiscal years 2017 and 2018 demonstrated a “spirit of full disclosure.”Photo – VRE

The Virginia Railway Express (VRE) has received its 12th consecutive Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA).

The certificate is the highest form of recognition in governmental accounting and financial reporting, VRE officials said in a press release. 

The GFOA panel determined that VRE’s financial report for fiscal years 2017 and 2018 demonstrated a “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 chief executive officer. "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."