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    Archived pages: 41 . Archive date: 2014-01.

  • Title: VML/VACo - Investment & Financial Services for Virginia Local Governments
    Descriptive info: .. VML/VACo Finance.. Financial Services of the Virginia Municipal League and Virginia Association of Counties.. Main menu.. Skip to primary content.. Skip to secondary content.. HOME.. Services.. Fixed Rate Loan Program.. Small Equipment Leasing.. Commercial Paper.. Virginia Investment Pool.. Pooled OPEB Trust.. OPEB Actuarial Services.. Accounting Services.. About Us.. Participants.. Virginia Local Government Finance Corporation.. IDA of Stafford Staunton.. Pooled OPEB Trust Board Participants.. Virginia Investment Pool Board.. Staff.. News.. Resources.. Rates Yields.. Apply Now.. Financing.. Contact Us.. ANNOUNCING THE VACo/VML VIRGINIA INVESTMENT POOL (VIP).. VACo, VML, and Treasurers from across Virginia have established a new investment option designed for funds that local governments plan to invest for one year or longer.. For  ...   the Apply Now tab.. VML/VACo Finance is a leading provider of Financing, Investment, and Professional Services.. for Virginia local governments.. Investment.. Professional Services.. Fixed rate loans without the high cost of traditional bond issues.. An LGIP with a slightly longer-term investment horizon.. Discounted actuarial services from one of the nation s leading providers.. Quick easy financing for equipment up to $2 million.. Virginia s #1 OPEB investment option.. Accounting assistance available year-end or year-round.. Floating rate loans that are remarkably easy to access.. VML/VACO Finance.. 919 East Main St.. , Suite 1100.. Richmond, VA 23219.. Phone:.. 804.. 648.. 0635.. Fax:.. 783.. 2286.. Email:.. info@valocalfinance.. org.. Administrator of the.. Virginia Government Finance Officers’ Association..

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  • Title: Financial Services for Virginia Local Governments - VML/VACo Finance
    Descriptive info: Select from the links to the left to learn more about VML/VACo Finance s service offerings:.. Small Equipment Leasing Program..

    Original link path: /services/
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  • Title: Fixed Rate Loan Programs, Virginia Local Government - VML/VACo Finance
    Descriptive info: VML/VACo Finance’s Fixed Rate Loan Program helps you take advantage of the increasing competition among banks for municipal debt.. To accomplish this, VML/VACo Finance makes its loan directly to the local government and, at closing, assigns its rights under the loan agreement to a bank lender offering the best rates and terms.. Borrowers receive a fixed rate loan, enjoy the flexibility of closing on their own schedules, and avoid the high costs of issuance associated with traditional municipal bonds and bond pools.. VML/VACo Finance structures each loan to the specifications of each participant and provides hands-on support beginning with loan origination until the loan is fully repaid.. We provide loan structuring, seek out the best interest rates and loan terms, coordinate the work of bond counsel,  ...   cost financing for your local government or authority, along with hands-on assistance to make this the easiest financing you’ve ever experienced.. VML/VACo Finance’s Fixed Rate Loan Program offers:.. Attractive interest rates established through a competitive process.. A means to avoid costs of issuance associated with traditional municipal bond issues and bond pools.. Financing for capital projects of $1 million and above; equipment leases of $2 million and above.. Flexibility in scheduling a closing date that best suits your schedule.. Option to repay without penalty after the tenth year, or even sooner.. Amortization periods up to 20 years.. Standardized documents – you avoid expensive document preparation costs.. Arbitrage monitoring reports upon request.. No federal disclosure requirements.. For more information, or to submit an application, select the following links:..

    Original link path: /services/fixed-rate-loan-program/
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  • Title: Small Equipment Leasing Programs, Virginia Governments - VML/VACo Finance
    Descriptive info: The Small Equipment Leasing Program offers Virginia localities, school divisions, and authorities an easy and cost effective way to lease moveable equipment – such as vehicles, communication systems, and energy saving building upgrades – from leading local, regional, and national financial institutions.. VML/VACo Finance handles all aspects of the procurement process on behalf of the local entity, issuing a Request for Proposals from our exclusive listing of eligible financial institutions.. Local governments may provide names of local institutions to ensure that they are contacted through the process, and we welcome inquiries from any and all leasing institutions.. Leasing is usually the lowest-cost method of financing the acquisition of equipment, provided you locate the financial institution offering the best rates and terms.. The appetite of banks  ...   the right contacts in the appropriate financial institutions, compare multiple proposals with varying terms and conditions, review lease documents and negotiate on your behalf, structure the lease, and coordinate the closing.. And, our one-time flat fee is often a fraction of what others may charge for the same level of service.. VML/VACo Finance’s Small Equipment Leasing Program offers:.. Lease Terms up to the expected life of your equipment.. Financing in connection with energy savings performance contracts.. Simple closing process – a bond counsel’s opinion is generally not required.. Both tax-exempt and taxable equipment leases.. No minimum loan size; leases above $2 million are eligible for the Fixed Rate Loan Program.. A one-time, flat fee, that is typically a fraction of what others charge for this service..

    Original link path: /services/small-equipment-leasing-program/
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  • Title: Commercial Paper for Financing New Construction in Virginia - VML/VACo Finance
    Descriptive info: Since its introduction in 2005, many of Virginia’s most astute localities have found our Commercial Paper program to be a real cost saver in financing new construction.. Rather than financing an entire project before it starts—and paying interest on the full amount beginning on Day One—our flexible loan programs enable a locality to borrow just the amount it needs on an estimated monthly schedule.. Arbitrage compliance is generally a non-issue because you are never forced to borrow more than the amount you need to cover current project costs.. Throughout the program’s history, our monthly interest rates have been set at levels considerably less than long-term bond rates.. [.. How low are current interest rates?.. Check out the.. tab on this  ...   with a monthly interest rate and have the ability to lock-in a fixed interest rate at any time during the remaining term of your loan.. VML/VACo Finance’s Commercial Paper program offers:.. Interest rates that are historically 2.. 0% lower on average than long-term bond rates;.. No upfront program fees your only closing cost is for bond counsel s opinion;.. Project financing for terms from a few months up to 20 years;.. Opportunity to share costs with other participants;.. Flexibility in scheduling a closing date that best suits your schedule;.. Minimum loan size generally $500,000; no maximum (Participants have financed as much as $75 million);.. An ongoing source of financing to use for various projects and/or cash flow requirements throughout the year..

    Original link path: /services/commercial-paper/
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  • Title: Virginia Investment Pool (VIP) - VML/VACo Finance
    Descriptive info: The Virginia Investment Pool (“VIP”) is a pooled investment program that local governments and other political subdivisions use to invest assets they expect to hold for one year or longer.. Assets of governmental participants are invested in high-quality corporate and government securities with average duration of between 1 to 2 years.. VIP achieves a higher expected rate of return compared to traditional money market funds by investing in slightly longer-term securities as authorized under the Virginia Investment of Public Funds Act.. Local governments typically utilize both vehicles: 1) a money market fund with overnight liquidity for operating expenses, and 2) VIP for funds requiring less liquidity that can be invested for one year or longer.. VIP’s pooled investment approach provides governmental entities the opportunity to access a professional investment manager while sharing expenses.. Investment decisions  ...   their funds on short notice in order to respond to unexpected events.. The VACo/VML Virginia Investment Pool offers:.. Diversification across investment types, from federal agency securities to high-.. quality corporate and municipal bonds, etc.. – diversification reduces investment risk;.. Large number of holdings – each participant has less exposure to any single investment;.. Relatively short-term focus on investments with an average term of 1-3 years – volatility is historically less pronounced on the short end of the yield curve;.. Semi-monthly liquidity, enabling investors to respond to unexpected events;.. Four layers of active oversight: 1) a professional fund manager; 2) a Board of Trustees composed of Treasurers and Chief Investment Officers; 3) a full-time program administrator; and 4) regular reporting to participants.. For more information, or to join the Virginia Investment Pool, select the following links:..

    Original link path: /services/virginia-investment-pool-services/
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  • Title: Other Post-Employment Benefits (OPEB) Trust Services - VML/VACo Finance
    Descriptive info: Virginia local governments, school districts, and authorities now have a streamlined and cost-effective investment vehicle for funding Other Post-Employment Benefits (OPEB).. Under GASB Statement 45, all governmental bodies must report their OPEB liabilities on their FY 2010 financial statements.. Local governments accrue OPEB liabilities whether they offer explicit non-pension benefits for retirees (typically health insurance) or merely allow retirees to participate in benefit plans for active employees.. Local governments may avoid showing this potentially large and increasing liability on their balance sheets by funding their OPEB liabilities as they accrue.. The amounts funded are invested, yielding earnings that can reduce the long-term cost to the local government by as much as 50%.. The VACo/VML Trust is the only pooled OPEB trust fund offered in Virginia.. Trust participants receive professional investment management  ...   Trust is among the largest of its kind in the nation.. Investment decisions are made by the Board of Trustees.. Our investment consultant, Asset Consulting Group, is one of the leading firms of its kind in the U.. S.. The VACo/VML Pooled OPEB Trust offers:.. Access to the best performing investment funds in the nation, including those with high minimum investment requirements applicable to major institutions;.. A more diversified portfolio with less expected volatility;.. Leading professional investment advisors and managers—providing sophisticated expertise and research capabilities to help guide investment decisions;.. The lowest cost option, offering cost sharing and economies of scale;.. Directed and controlled by local government officials – i.. e.. , participants elect trustees who oversee the Trust;.. For more information, or to join the Pooled Trust, select the following links:..

    Original link path: /services/pooled-opeb-trust-services/
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  • Title: Leading OPEB Investment in Virginia - Pooled OPEB Trust Actuarial Services
    Descriptive info: Under Governmental Accounting Standards Board Statement 45, all governmental bodies are required to report their OPEB liabilities on their financial statements.. Local governments accrue OPEB liabilities whether they cover the cost of non-pension benefits for retirees (typically health insurance) or merely allow retirees to participate in benefit plans for active employees.. For most local governments, the first step in quantifying your OPEB liability is to procure an actuarial study.. An actuary calculates your OPEB liability using benefit plan, demographic, and other statistical data.. As the program administrator for the VACo/VML Pooled OPEB Trust – the leading OPEB investment vehicle in Virginia – we can help your locality obtain high quality and affordable actuarial services.. When you work with VML/VACo Finance, you automatically participate in a cooperative procurement that eliminates the need to issue a separate  ...   quote to local governments upon request.. Some localities are reporting that VML/VACo has helped them achieve savings of as much as 40% or more.. For local governments with fewer than 100 plan members, we also offer.. GASBhelp.. , a self-service online toll provided by Milliman specifically for small local governments.. VML/VACo OPEB Actuarial Services offer:.. Deep discounts of as much as 40% or more on your OPEB actuarial study;.. No RFP required;.. A no-obligation advance fee quote from VML/VACo Finance;.. Expert analysis from one of the nation’s leading actuarial firms;.. A written study and management briefing included in the cost of the study;.. Answers to questions and assistance from VML/VACo Finance staff year-round;.. Available for any size local government, school division, or authority.. For more information or to obtain a fee quote, select the following link:..

    Original link path: /services/opeb-actuarial-services/
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  • Title: Accounting Services for Virginia Local Governments - VML/VACo Finance
    Descriptive info: Could your finance staff use some assistance during audit preparation and other critical times of the year? Are you struggling to make year-end adjustments now that SAS 112 has restricted your auditor’s involvement in your financial transactions? Do you have a vacancy in a key financial staff position? VML/VACo Finance s Accounting Services provide experienced local government accountants to assist localities in addressing their accounting and financial reporting requirements.. The American Institute of Certified Public Accountants issued Statement of Auditing Standard 112 which states:.. “The auditor cannot be part of a client’s internal control.. Becoming part of a client’s internal control impairs the auditor’s independence.. ”.. Up until the issuance of this statement, localities across the state often relied on their auditors to assist with the year-end closing process, prepare accrual (accounts receivable and  ...   VML/VACo Finance provides quality, affordable, financial services to Virginia localities and authorities.. By serving many local government entities, we are able to bring to you the services of top accounting professionals for less cost than hiring additional staff or outside contractors.. Our financial professionals can develop a customized scope of work to provide as little or as much assistance as needed in the areas you designate.. We are a cost-efficient way to supplement your staff at year-end or year-round.. Typical accounting services we perform include:.. Financial statements and reconciliation to the prior year audit;.. Fixed asset accounting;.. Year-end accrual entries (accounts receivable accounts payable);.. Account maintenance / clean-up;.. Debt transactions, GASB 34 financial reporting, compensated absences;.. Enterprise Fund accounting;.. Documentation for risk assessment;.. Temporary backfill for open finance positions, from Bookkeeper to Finance Director..

    Original link path: /services/accounting-services/
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  • Title: About VML/VACo Finance
    Descriptive info: About VML/VACo Finance.. VML/VACo Finance was established in 2003 by the Virginia Municipal League (VML) and Virginia Association of Counties (VACo) to address many of the financial needs of Cities, Counties, Towns, School Divisions, and Authorities in the Commonwealth of Virginia.. We pool the resources of local governments in order to provide superior financial services at lower cost.. Our programs are designed to benefit governmental entities of every size and financial strength, including the entire range of local governments represented within the memberships of VML and VACo, as well as the school divisions, authorities, and other governmental entities that  ...   approximately $550 million, and has provided professional services to over 100 political subdivisions.. Click on this link for a listing of.. VML/VACo Finance Participants.. Click on the links below to learn more about the leaders of the various entities that comprise VML/VACo Finance:.. The governing body and program administrator of VML/VACo Finance.. IDA of Stafford County and Staunton, Virginia.. The exclusive issuer of bonds and notes for VML/VACo Finance.. VACo/VML Pooled OPEB Trust.. A governmental trust fund established for the express purpose of funding OPEB liabilities.. VACo/VML Virginia Investment Pool.. A fixed income local government investment pool.. VML/VACo Finance Staff..

    Original link path: /about-us/
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  • Title: VML/VACo Finance - List of Participants
    Descriptive info: Abingdon.. Albemarle County.. Alexandria City Public Schools.. Alleghany County Public Schools.. Amelia County.. Amelia County Public Schools.. Amherst.. Amherst County.. Appalachia.. Arlington County.. Ashland.. Bath County.. Bedford.. Big Stone Gap RHA.. Blacksburg.. Blackstone.. Bland County Public Schools.. Bluefield.. Bowling Green.. Bridgewater.. Brunswick County.. Brunswick County Public Schools.. Campbell County.. Cape Charles.. Caroline County.. Caroline County Public Schools.. Carroll County.. Central Virginia CSB (Lynchburg).. Charles City County.. Chesapeake.. Chesapeake Public Schools.. Chesterfield County.. Chesterfield County Public Schools.. Christiansburg.. Colonial Beach.. Colonial Community Services Board.. Craig County.. Crater Criminal Justice Academy.. Crewe.. Culpeper.. Cumberland County.. Danville-Pittsylvania Community Services.. Dickenson County Public Schools.. Dickenson County Social Services.. Dinwiddie County.. Dinwiddie County Public Schools.. Dumfries.. Elkton.. Emporia.. Fairfax County.. Fairfax County Public Schools.. Falls Church.. Fauquier County.. Floyd County.. Fluvanna County.. Franklin.. Franklin City Schools.. Franklin County.. Frederick County Sanitation Authority.. Fredericksburg.. Fredericksburg City Schools.. Front Royal.. Galax.. Giles County.. Giles County Public Schools.. Giles County Public Service Authority.. Glasgow.. Goochland County.. Gordonsville.. Greene County.. Hampton Roads Criminal Justice Academy.. Hampton Roads PDC.. Hampton Roads Regional Jail.. Hampton Roads Sanitation District.. Harrisonburg Electric Commission.. Harrisonburg Rockingham Community Svcs.. Harrisonburg Rockingham RSA.. Haymarket.. Health Care Commission of Chesterfield Co.. Henrico County.. Henry County.. Henry County Public Service Authority.. Henry  ...   Middleburg.. Middlesex County Public Schools.. Montgomery County.. Montgomery Regional Solid Waste Auth.. Mt.. Rogers Community Services Board.. Nelson County.. Nelson County Public Schools.. Nelson County Service Authority.. New River Valley Community Services.. New River Valley Jail Authority.. Newport News Public Schools.. Newport News Redevelopment Housing.. Northumberland County.. Northumberland County Schools.. Northwestern Community Services Board.. Norton.. Orange.. Orange County.. Patrick County.. Pearisburg.. Pennington Gap.. Petersburg.. Portsmouth.. Powhatan County.. Prince George County.. Prince William Co.. Service Authority.. Prince William County.. Pulaski County.. Purcellville.. Radford City Public Schools.. Rappahannock Area Community Services.. Rappahannock Juvenile Detention Ctr.. Rapphannock Regional Jail Authority.. Region 2000.. Remington.. Richmond.. Richmond Behavioral Health Authority.. Richmond County.. Richmond County Public Schools.. Richmond Metropolitan Authority.. Roanoke.. Roanoke County.. Roanoke Regional Airport.. Rockbridge County.. Rocky Mount.. Salem.. Salem City Schools.. Scottsville.. Smithfield.. South Boston.. Southeastern Cooperative Educ Progs.. Southeastern Public Service Authority.. Southwest Virginia Regional Jail.. Spotsylvania County Public Schools.. Stafford County.. Stafford County Public Schools.. Staunton.. Suffolk.. Suffolk City Public Schools.. Surry County.. Tappahannock.. Tazewell.. Tazewell County.. University of Mary Washington.. Urbanna.. Victoria.. Vienna.. Vinton.. Virginia Beach.. Virginia Beach City Schools.. Virginia Tech.. Warren County.. Warrenton.. Warsaw.. Waynesboro.. Western Tidewater Regional Jail.. Westmoreland County Public Schools.. Winchester Parking Authority.. Wise.. Wythe County.. Wytheville.. York County..

    Original link path: /about-us/participants/
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  • Archived pages: 41