RD125 - Virginia Biotechnology Research Partnership Authority Report on Audit for the Year Ended June 30, 2009


Executive Summary:
Our audit of the Virginia BioTechnology Research Partnership Authority (Authority) for the year ended June 30, 2009, found:

• the financial statements are presented fairly, in all material respects;

• an internal control matter that requires management’s attention and corrective action; this is located in the “Internal Control Finding and Recommendation” section of this report; and

• no instances of noncompliance with material laws and regulations or other matters that are required to be reported.

We have audited the basic financial statements of the Authority as of and for the year ended June 30, 2009, and issued our report thereon, dated December 3, 2009. Our report, included in the Authority’s Annual Report 2009, is anticipated to be issued on or around December 7, 2009, and will be available at the Auditor of Public Accounts website at www.apa.virginia.gov and at the Authority’s website at http://vabiotech.com/.