Virginia Railway Express recognized for excellence in financial reporting

July 11, 2019

The Government Finance Officers Association (GROA) has awarded the Virginia Railway Express (VRE) with the Certificate of Achievement for Excellence in Financial Reporting for its annual financial report for the twelfth consecutive year.

This is the highest recognition in governmental accounting and financial reporting, and was awarded by a panel that determined VRE’s financial report for fiscal year 2017-2018 met the association’s highest standards, "which include demonstrating a constructive 'spirit of full disclosure' to clearly communicate its financial story and motivate potential users and user groups to read the report," according to GFOA.

"Transparency in financial reporting is an obligation that VRE takes seriously," said Doug Allen, the commuter railroad's CEO. "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. This certificate is testament to the oversight provided by our Operations Board and the hard work of VRE staff."  

The 12 largest commuter rail service in the United States, VRE is a transportation partnership of the Northern Virginia and Potomac and Rappahannock Transportation Commissions. VRE’s mission is to provide safe, cost effective, accessible, reliable, convenient, and customer responsive commuter-oriented passenger rail service. The 4.5 million rides the railroad provides annually in Northern Virginia and Washington D.C. remove some 100 million vehicle miles from the region’s interstates.