Financial Reports

Comprehensive Annual Financial Reports 

About the Comprehensive Annual Financial Report

The Comprehensive Annual Financial Report is designed to present a fair financial position of the service authority activities, business-type activities, the component units, major funds, and aggregate remaining fund information of Rapidan Service Authority in all material respects, and to demonstrate compliance with applicable finance-related legal and contractual provisions. It is prepared on an annual basis and includes a profile of the Authority, a discussion on economic conditions, updates on major initiatives, and the annual auditor’s report. Ten years of financial trend information is provided in the statistical section of the report.

Certificate of Achievement for Excellence in Financial Reporting

Rapidan Service Authority was the recipient of the Government Finance Officers Association’s Certificate of Achievement for Excellence in Financial Reporting for its FY2023 Annual Financial Report. This award represents a significant achievement, the highest form of recognition in government accounting and financial reporting. Rapidan Service Authority has received this award for the last 40 consecutive years.