The Virginia Aviation Board (VAB) is honored to present this Transparency and Accountability in the Use of Commonwealth Airport Fund Revenues report to the Governor and the General Assembly pursuant to the requirement of Va. Code § 5.1-2.2:3. The report sets out the use of funding supported by the former 2.4 percent share of Transportation Trust Fund revenues dedicated to aviation, referred to as the Commonwealth Airport Fund (CAF).(*1)

This report includes 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).
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(*1) Pursuant to Chapters 1230 and 1275 of the Acts of Assembly, (2020), the Commonwealth Airport Fund is not the Commonwealth Aviation Fund. The state code provides that the report is for the prior fiscal year, hence the term Commonwealth Airport Fund herein.