During the 2017 session of the Virginia General Assembly, legislation was passed requiring 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 the department, 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, Transparency and accountability in the use of Commonwealth Airport Fund revenues.

This report fulfills the requirements of § 5.1-2.2:3. Transparency and accountability in the use of Commonwealth Airport Fund revenues. In summary, the VAB shall report to the Governor and the General Assembly on 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 pursuant to subdivision A 3 a of § 58.1-638 by each air carrier airport, including the amount of funds that are unobligated;

2. The award and use of discretionary funds allocated for air carrier and reliever airports pursuant to subdivision A 3 b of § 58.1-638 by every such airport; and

3. The award and use of discretionary funds allocated for general aviation airports pursuant to subdivision A 3 c of § 58.1-638 by every such airport.

4. Such report shall also include the status of ongoing projects funded in whole or in part by the Commonwealth Airport Fund pursuant to subdivision A 3 of § 58.1-638.