Virginia Local Government Finance

“Vlgfc contracts with the management company, vlgfc management services, inc., to serve as program adminstrator for vml/vaco finance. The management company assigns 10 employees plus a variable number of contractors to staff the program. It maintains offices in richmond, virginia. Services include administrative, managerial, marketing, accounting, and municipal advisory functions.”

“The ida appoints non-ex officio members to the vlgfc board of directors. Pursuant to the articles of incorporation, three appointees must have the "support and recommendation" of the virginia municipal league; three must be similarly recommended by the virginia association of counties.”

“Vlgfc is a component unit of the industrial development authority of the county of stafford and the city of staunton, virginia.”

“A copy of this form 990 is distributed to all members of the board of directors prior to filing in order to provide directors the opportunity to submit questions or comments for consideration prior to filing.”

“Vlgfc's articles of incorporation are on file with the virginia state corporation commission (scc), and its annual scc filings are open to public inspection. Other governing documents are available to the public upon request. Its audited financial statements are filed annually with the virginia auditor of public accounts.”

“The following individuals devoted the estimated hours to the industrial development authority of the county of stafford and the city of staunton, virginia, which is a related organization: lopilato, mulroy, and lauterberg.”

“To administer a program established and sponsored by the virginia municipal league and virginia association of counties which provides financial services to local governmental entities in the commonwealth of virginia. Vlgfc offers financial-related services on a pooled basis and also where opportunities exist to achieve economies of scale, thereby enabling local governments to obtain high quality services at relatively low cost.”

“Other program services include providing educational and support services to local government finance officers and managers. Vlgfc serves as program administrator for the virginia government finance officers association and was a contributor to the virginia local government managers association and other local government professional organizations.”