RD494 - Fiscal Year 2019 Report Transparency and Accountability in the Use of Commonwealth Airport Fund Revenues – November 2019
The Virginia General Assembly enacted legislation in 2017 to require the Virginia Aviation Board (VAB) and the Virginia Department of Aviation (DOAV) to report to the Governor and the General Assembly on the use of funding supported by the 2.4 percent share of Transportation Trust Fund revenues dedicated to aviation, referred to as the Commonwealth Airport Fund (CAF). The reporting requirements were included in the 2017 Session Budget Bill-HB 1500 (Chapter 836), Item 438 (F.1) and the amendment to the Code of Virginia, § 5.1-2.2:3.
This report fulfills the requirements of § 5.1-2.2:3. That section requires the VAB to report to the Governor and the General Assembly the use of CAF revenues the previous fiscal year. The report must include at a minimum the following information:
1. The use of entitlement funds allocated by each air carrier airport, including the amount of funds that are unobligated (§ 58.1-638.A.3.a);
2. The award and use of discretionary funds allocated for air carrier and reliever airports by every such airport (§ 58.1-638.A.3.b);
3. The award and use of discretionary funds allocated for general aviation airports by every such airport (§ 58.1-638.A.3.c), and
4. The status of ongoing projects funded in whole or in part by the Commonwealth Airport Fund (§ 58.1-638.A.3).