What is Financial Reporting?

Financial Reporting provides information and resources for the internal and external financial reporting needs of the University. In this capacity, Financial Reporting provides guidance on complex accounting issues and questions including the research, interpretation, and implementation of new accounting standards and is responsible for managing the year-end close, APA audit, and preparation of the annual Financial Report as well as quarterly financial statements for the Board of Visitors and other institutional financial surveys.

Annual Financial Report

We made great strides in our capital program in Fiscal Year 2019, including Bond House, the first major construction in the Brandon Avenue corridor, which opened in August 2019 in time for the start of the 2019-20 academic year. Work in that precinct continues with additional residential space, a green street, and a new student health and wellness center planned. We began to envision the future of the Emmet-Ivy corridor, a transformational project that will connect central and north Grounds and become a centerpiece of the University in the coming decades. With essential support from the General Assembly, we began the Alderman Library renewal project to update an important University resource to meet the needs of 21st-century scholars. In addition, we continued to renovate the McCormick Road residence halls and to plan for the future of the Athletics precinct. We broke ground on a new facility for softball and we demolished University Hall to make way for new student-centered athletics facilities.

2021 Financial Report

Archived Financial Reports

Related Policies and Resources

FIN-048: Safeguarding and Stewardship of University Financial Records

Governmental Accounting Standards Board (GASB)

Commonwealth of Virginia Auditor of Public Accounts

Financial Accounting Standards Board (FASB)

For additional information related to Financial Reporting at the University of Virginia, Contact us @AskFinance