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Staff recommends delaying participation in VRA refunding pool until audit is complete
Summary
Interim Finance Director Margaret Lindsey recommended postponing Halifax County’s participation in a Virginia Resources Authority refunding pool because the FY2025 audit will not be complete by the VRA’s August 4 application deadline; staff said the delay should not adversely affect the County.
Margaret Lindsey told the Finance Committee that the County’s FY2025 audit remains incomplete because the Other Post-Employment Benefits (OPEB) actuarial report has not been received. Because the audit would not be complete before the Virginia Resources Authority’s August 4 application deadline, staff recommended postponing participation in the VRA refunding pool until a later issuance.
Lindsey said delaying participation by several months is not expected to adversely impact the County’s position. The Committee did not take a formal vote on the matter beyond acknowledging the staff recommendation; staff will monitor timing and re-evaluate for a future refunding pool.
