Financial Reports

Financial Reports

Comprehensive Annual Financial Report

The Comprehensive Annual Financial Report (CAFR) is a thorough and detailed presentation of the FCPS’ financial condition. It reports on FCPS’ activities and balances for each fiscal year.

What's in the CAFR?

The CAFR is presented in three sections:

Introductory section - includes transmittal letter.

Financial section - includes the independent auditor's report and contains management's discussion and analysis, government-wide financial statements, fund financial statements, notes to the financial statements, required supplementary information, combining financial statements, and schedules.

Statistical section - includes additional financial, economic, and demographic information.

Certificate of Achievement for Excellence in Financial Reporting
FCPS has received the Government Financial Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting for twenty consecutive years.

Single Audit Report (SAR)

Entities that receive federal funds including states, local governments, and not-for-profit organizations (NPOs), are subject to audit requirements commonly referred to as “single audits” under the Single Audit Act of 1984, as amended in 1996.  The Single Audit Act was enacted to standardize the requirements for auditing federal programs.  The Act provides that grantees are subject to one audit of all of their federal programs versus separate audits of each federal program. The reports below provide results of the single audit of federal funds received by FCPS and Fairfax Government.

Annual Report of Expenditures (ARE)

Annual report of expenditures is posted in compliance with HB 2269 passed by the 2009 General Assembly. The data reported here is based on Virginia Department of Education classifications used in the State's Annual School Report. These classifications may or may not be consistent with those used by Fairfax County Public Schools in budgeting and financial documents. In addition, the state-report data does not include audit adjustments, if any.

For reports prior to fiscal year 2013, contact Monique Remy, Chief Accountant, at myremy@fcps.edu.