RD3 - 2008 Annual Report of the Virginia Resources Authority

Executive Summary:
This Annual Report is submitted in fulfillment of § 62.1-222 (Virginia Resources Authority), § 5.1-30.9 (Virginia Airports Revolving Fund) and § 10.1-603.23 (Dam Safety, Flood Prevention and Protection Assistance Fund) of the Code of Virginia.

This report includes a complete operating and financial statement for the Authority as required by the Act. PBGH was hired as an independent certified public accountant by the Auditor of Public Accounts to perform the fiscal year 2008 audit and they issued an unqualified opinion on the Authority’s financial statements.

As noted in the Annual Report, in fiscal year 2008, VRA’s programs provided over $340 million of investment in 50 communities across the Commonwealth for vital public projects. With these strong results, VRA’s total investment in Virginia exceeds $3.4 billion for more than 800 local projects since 1984. Financing solutions supported Chesapeake Bay restoration, airports, local transportation and public safety needs, and more.