The Central Virginia Regional Jail (CVRJ) is committed to compliance with all applicable securities laws and regulations, accounting standards, accounting controls, and appropriate audit practices.
CVRJ engages an independent firm of Certified Public Accountants (CPA) to perform its annual financial and compliance audit according to the Generally Accepted Auditing Standards (GAAS), at the end of each fiscal year and completed by December 31st. A Comprehensive Annual Finance Report (CAFR) is prepared at the conclusion of the audit and a copy of the same is delivered to each participating Jurisdiction.
The purpose of budgeting is to officially translate the CVRJ’s long-range plans and policies into current year operations. The budget provides detailed financial information on the costs of operations and the anticipated revenues for the upcoming fiscal year. The budget process also provides an opportunity for reviewing operations in the current year and for setting priorities in the upcoming years to meet the needs and requirements of the facility.