RD477 - Department of Accounts Report of Off-Balance Sheet Financial Obligations as of June 30, 2021

Executive Summary:

During the 2007 General Assembly Session, legislation was passed (Code of Virginia, § 2.2-813.2) requiring the State Comptroller to report off-balance sheet financial obligations of the Commonwealth. For purposes of this report, the balance sheet is defined as the Annual Comprehensive Financial Report (ACFR). The ACFR is prepared in accordance with Generally Accepted Accounting Principles (GAAP) and includes both financial statements and notes to the financial statements, both of which contain information concerning the Commonwealth’s financial obligations. The ACFR is available on the Department of Account’s webpage at https://www.doa.virginia.gov/reports.shtml#ACFReport. The ACFR amounts reflected below include state agencies, institutions and component units. The component unit amounts exclude Higher Education foundations.