VPRA finance committee backs FY2026 budget, previews bylaw change to let executive director reallocate up to $5 million

The Virginia Passenger Rail Authority (VPRA) finance committee voted to recommend the authority’s fiscal year 2026 budget and management reserve to the full VPRA board and reviewed a proposed bylaw amendment that would clarify executive director authority to move up to $5,000,000 between capital project line items.

The recommendation to forward the FY2026 budget to the full board was approved by voice vote; committee members present moved and seconded the motion and the chair announced the ayes carried. The committee also previewed redline language for a bylaw amendment that the full board is expected to consider at its May meeting.

The committee’s presentation said net changes to VPRA’s multi-year financial plan add $97 million in new identified sources and reduce planned uses by $188 million, increasing the management reserve by $285 million to a recommended $461 million for the quarter. Key source items cited included an additional $22 million of I‑66 toll-related financing capacity, $37 million from revised CRF estimates, $26 million in…