Virginia Resources Authority Board Meeting
The Board of Directors and its committees reviewed and discussed key fiscal and operational matters. These included the Annual Operating Plan for the upcoming fiscal year, the approval of the fiscal year 2027 personnel and operating budgets, and a 3.5% merit increase for staff. The Board also authorized bond issuance shelf resolutions for refunding, the Virginia Pooled Financing Program, and the VirginiaHELPS Conduit Borrower Program. Additionally, the Board conducted a closed session to evaluate the Executive Director's performance and compensation, subsequently approving a 5.5% merit increase. Reports were provided regarding record-breaking fiscal performance, infrastructure funding programs, and updates on portfolio risk management and bond issuance activity.