RD227 - Annual Report of the Virginia Outdoors Foundation for FY 2004 and 2005


Executive Summary:
This annual report is submitted to the Governor and General Assembly for fiscal year 2004 and 2005 pursuant to the requirements of the Code of Virginia, Section 10.1-1802. Please see Attachment CU2 for the Comprehensive Annual Financial Report for fiscal year 2004. Please see the attachments entitled "Profit and Loss" and "Balance Sheet" respectively for profit and loss and balance sheet statements for fiscal year 2004. Finally, please see Attachment A for a table depicting application of the Open Space Lands Preservation Fund.

Due to the usual delay in our audit by the Auditor of Public Accounts, financial statements for fiscal year 2005 have not yet been fully audited. However, because the Code of Virginia, Section 10.1-1802 requires "the annual financial statements of the Foundation for the year ending the preceding June 30" the financial statements for fiscal year 2005 have been included and are discussed here. Please see Attachment CU4 for the Comprehensive Annual Financial Report for fiscal year 2005. Please see the attachments entitled "Profit and Loss" and "Balance Sheet" respectively for profit and loss and balance sheet statements for fiscal year 2005. Please see "Open Space Lands Preservation Fund: Profit and Loss" and "Open Space Lands Preservation Fund: Balance Sheet" respectively for profit and loss and balance sheet statements for the Open Space Lands Preservation Fund for fiscal year 2005. Finally, please see Attachment B for a table depicting application of the Open Space Lands Preservation Fund for fiscal year 2005.