The Office of Budget and Financial Reporting was created on March 10, 2005. This new office combined the two previous offices of Budget and Financial Reporting and Compliance. This new office has two sections: Budget Section and Financial Reporting Section.

The Financial Reporting Section was originally created in 1985 to assist the Department in the improvement of and standardization of financial standards, methods and procedures, both manual and automated. Additionally the Office was to work with Central Office, Facilities and Community Services Boards (CSBs) to ensure compliance with state and federal and other oversight organization regulations and guidelines.

In order to fulfill our mission the office:

• Provides facilities and Central Office with direction and support for the utilization and operation of the statewide Financial Management System.
• Prepares agency financial statements in accordance with Generally Accepted Accounting Principles (GAAP) and consolidate all Department of Accounts (DOA) financial reporting requirements, which includes the development of an annual financial report.
• Performs sub-recipient monitoring of federal funds, via the performance of routine CSB financial reviews.
• Develops guidelines for CSB and contract agency audits and review and monitor, audits and plans of correction for the 40 CSBs and their related contract programs.
• Coordinates and monitors the plan of correction for the Central Office and 15 State Facilities, as developed in response to the Audits performed by the State Auditor of Public Accounts (APA).
• Develops and maintains financial policy for the facility and CSB system. This includes the following key areas:
  • GAAP basis financial reporting
  • Internal control methods
  • Cost Accounting
  • Automated financial management systems
  • State and Federal compliance

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DMHMRSAS
Office of Budget and Financial Reporting
1220 Bank Street, 8th Floor
P. O. Box 1797
Richmond, VA 23218 

Division Phone Number - (804) 786-5025        Fax - (804) 692-0076

E-mail: obfr@co.dmhmrsas.virginia.gov

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