I am pleased to present the annual report of the Virginia Resources Authority (“VRA" or “Authority"). This report and its accompanying Annual Comprehensive Financial Report (“Annual Report") for the year ended June 30, 2022, is submitted pursuant to the requirements set forth in § 62.1-222 of the Code of Virginia, as amended.

VRA’s attached 2022 Annual Report provides the Authority's complete operating and financial statements during the fiscal year. As required, an independent certified public accountant has performed an audit of the books and accounts of the Authority and has issued an unmodified opinion with no audit findings. The Annual Report also includes supplemental information relating to the Water Facilities (§ 62.1-227), Water Supply (§ 62.1-236), Airports (§ 5.1-30.9), Dam Safety (§ 10.1-603.23), Brownfields Restoration and Economic Redevelopment Assistance (§ 10.1-1237), Tobacco Region (§ 3.2-3120), Virginia Community Flood Preparedness (§ 10.1-603.27), and Resilient Virginia (§ 10.1-603.31) revolving loan funds.

In Fiscal Year 2022, VRA provided 252 loans and grants to 160 different entities totaling $623.5 million of capital improvement investment in Virginia communities. VRA also facilitated debt refunding opportunities providing $7.4 million in net present value savings for 16 localities through its Virginia Pooled Financing Program. VRA continues to deliver value to local governments to support essential infrastructure that improves the health, safety, and general welfare of communities in the Commonwealth.

Sincerely,

/s/ Shawn B. Crumlish
Executive Director