TIM HEMSTREET | COUNTY ADMINISTRATOR
To the residents of Loudoun County: I am pleased to present the County of Loudoun, Virginia, Popular Annual Financial Report (PAFR) for Fiscal Year (FY) 2025, ended June 30, 2025. I deliver this report to highlight the commitment of county officials and the Board of Supervisors to keep residents and stakeholders informed of the financial condition of their local government, ensuring accountability to provide fiscal stability. This report provides important and informative information about the financial condition of your county government, in a concise and accessible format. The county concluded FY 2025 in sound financial condition, in part due to the diversity of revenues of the county, which makes it less susceptible to volatility in the economy. In addition, the county continued its commitments designed to effectively manage the challenges that continued growth has brought to Loudoun County. These commitments include maintaining high quality educational opportunities, connecting Loudoun by developing an effective transportation network, meeting the county’s diverse housing needs, and uplifting Loudoun businesses and promoting economic development so that the tax burden to residents is lowered and job opportunities and business growth continue to increase. The Board continues to devote significant resources to attainable housing programs as well as transportation and transit projects that support access to businesses and promote walkable, mixed-use areas. Population growth continues to be a dominant local trend affecting every area of the government’s operations. Loudoun is expected to continue to experience one of the highest percentage growth rates in population and jobs in the Washington Metropolitan Area. Continued planning and commitment is required to meet the challenge of efficiently providing needed services for the growing population, providing for the necessary infrastructure for the future, and growing the tax base and resources required to pay for that infrastructure and its operations. Loudoun County has continued to follow a policy of fiscal sustainability. In April 2025, the county adopted a budget for FY 2026 that totaled approximately $4.7 billion in total appropriations for the general county government and public school system. This represents an overall increase of $119.6 million in funding for Loudoun County government and a $111.8 million increase in funding for Loudoun County Public Schools as compared to FY 2025 appropriations. In managing our available resources, the county must strike a balance between the demand for additional services and the ability to pay for those services. Financial management continues to be of paramount importance in this and future fiscal years. The county’s financial health is reflected in the soundness of its current financial condition, and it is anticipated that current financial management practices will continue the county’s tradition of fiscal stability. The Board’s emphasis on sound fiscal planning, budget development and financial management contributes to the present financial condition of the county and sets the parameters and tasks for next year.
The Government Finance Officers Association of the United States and Canada (GFOA) has given an Award for Outstanding Achievement in Popular Annual Financial Reporting to Loudoun County, Virginia, for its Popular Annual Financial Report for the fiscal year ended June 30, 2024. The Award for Outstanding Achievement in Popular Annual Financial Reporting is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government popular reports. Loudoun County, Virginia, has received a Popular Award for the last eight consecutive years (Fiscal Years 2017-2024). We believe our current report continues to conform to the Popular Annual Financial Reporting requirements, and we are submitting it to the GFOA to determine its eligibility for another Award.
ABOUT THIS REPORT This report is intended to provide the public with information about Loudoun County’s financial condition in an easily understandable format. The PAFR supplements the Annual Comprehensive Financial Report (ACFR) and is not a substitute for the ACFR. This report does not conform to Generally Accepted Accounting Principles (GAAP) and focuses only on governmental services. Financial information related to Loudoun County Public Schools, Internal Service Funds, and Fiduciary Funds are not included. While the PAFR is not audited and does not contain the full set of financial statements and disclosures, it does contain figures and information extracted from the fully audited ACFR. The ACFR is prepared in conformity with GAAP and audited in accordance with GAAP by a firm of licensed certified public accountants, Cherry Bekaert, LLP. The ACFR is available in its entirety online at loudoun.gov/ FinancialReports. We encourage all residents and stakeholders to read the ACFR and the full financial disclosures contained within the document.
Government Finance Officers Association Award for Outstanding Achievement in Popular Annual Financial Reporting
Presented to County of Loudoun Virginia For its Annual Financial Report For the Fiscal Year Ended June 30, 2024
Executive Director/CEO
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