Chicago --The Certificate of Achievement for Excellence in Financial Reporting has been awarded to Virginia Port Authority by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR).
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.
An Award of Financial Reporting Achievement was been awarded to Wendy T. King, CPA, the VPA's director of finance, as the individual primarily responsible for preparing the award-winning CAFR.
"This is the seventh consecutive year that the VPA has been recognized by GOFA and it says a lot about how we compile and report our financial figures," said Rodney W. Oliver, the VPA's interim executive director. "Our goal is to continue to achieve this level of recognition year after year; Wendy has done an outstanding job."
The CAFR has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.
The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago and Washington, DC.