RD395 - Comprehensive Annual Financial Report of the Virginia Resources Authority - A Component Unit of the Commonwealth of Virginia - Year Ended June 30, 2010


Executive Summary:
The attached Comprehensive Annual Financial Report for the year ending June 30, 2010 sets forth the complete operating and financial statements for the Authority during the fiscal year. As required, an independent certified public accountant, Clifton Gunderson LLP, has performed an audit of the books and accounts of the Authority and has issued an unqualified opinion with no audit findings or management letter.

In FY10, the Authority financed more projects than any other year in its history, closing over $640 million in financings for 133 projects. Included in this number are American Recovery and Reinvestment Act projects, closed by the federal deadline date, and done in partnership with the Department of Environmental Quality and the Virginia Department of Health.