RD384 - Virginia Biotechnology Research Partnership Authority Report on Audit for the Year Ended June 30, 2011


Executive Summary:
Our audit of the Virginia Biotechnology Research Partnership Authority (Authority) for the year ended June 30, 2011, found:

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

• a certain matter involving internal control requiring management’s attention; however, we do not consider it to be a significant deficiency or material weakness; and

• no instances of noncompliance or other matters required to be reported under Government Auditing Standards.

We have audited the basic financial statements of the Authority as of and for the year ended June 30, 2011, and issued our report thereon, dated December 6, 2011. Our report, included in the Authority’s 2011 Annual Report, is anticipated to be issued on or around December 17, 2011, and will be available at the Auditor of Public Accounts website at http://www.apa.virginia.gov and at the Authority’s website at http://vabiotech.com/.