RD308 - Virginia Agricultural Council Annual Report Fiscal Year Ending June 30, 2012

Executive Summary:
The mission and purpose of the Council is to support research and education projects which are conducted to assist agricultural producers and the agribusiness industry in the production of agricultural commodities. Its purpose is to find new uses for agricultural products, and to promote more efficient and economical methods of agricultural production. The support is provided through grants which are funded from revenues generated from assessments levied upon certain agricultural supplies used by farmers and agribusiness industries, i.e.: fertilizer tonnage fees; lime tonnage fees; seed inspection fees of lawn and turf seed; feed tonnage inspection fees; farm motor fuel refunds; and interest.

The Virginia Agricultural Council Board is composed of eighteen members appointed by the Governor. Insofar as practical, fifteen members should be engaged in the production of different agricultural commodities. The Commissioner of Agriculture and Consumer Services, the Dean of the College of Agriculture and Life Sciences of Virginia Polytechnic Institute and State University and the Dean of the College of Agriculture of Virginia State University shall serve as members ex officio.

During the March 26-27, 2012 meeting, the Virginia Agricultural Council approved and issued dollar grants for fiscal year 2013. Nine (9) new project grants were issued totaling $110,942. Also approved for the same period of time, were ten (10) additional project requests for second year continuations totaling $103,000.

Fifteen (15) project grants were completed during fiscal year 2012. Six projects were extended.

The Council’s revenue and previous 2011 balance was $520,777.94, whereas, expenditures for 2011 totaled $357,612.91, giving a balance for fiscal year 2012 of $163,165.03.