This report summarizes the management and expenditure of the Virginia Agricultural Foundation Fund in support of agricultural research, education, and services to strengthen and promote the best interests of agriculture in the Commonwealth.  It includes the Virginia Agricultural Council’s (Council) annual financial statements for the fiscal year (FY) ending June 30, 2025. The Council approved grant funding for 14 new research projects in FY 2026 for a total of $205,426.79. Five projects from FY 2025 were approved for a second year of grant funding for a total of $57,489. Four projects were awarded grants from the Seed Fund for a total of $54,500.