Summary
The Secretary of Finance provides guidance to the four key agencies within the Finance Secretariat. These agencies handle all the financial transactions of the Commonwealth — from collecting taxes, to paying bills, to distributing aid to localities.
Their responsibilities include:
- forecasting and collecting revenues
- managing the Commonwealth’s cash and investments
- selling bonds
- overseeing internal audits
- making strategic financial plans
- preparing and executing the Commonwealth’s budget.
OnAir Post: Secretary of Finance
About
Contact
Email: School
Locations
Aubrey Layne
P.O. Box 1475
Richmond, VA 23218
Phone: 804-786-2211
Web Links
Agencies
Department of Accounts
Source: Website
The Department of Accounts (DOA) operates the state’s centralized automated accounting, payroll and fixed assets systems, and prepares the Commonwealth’s official financial statements. It ensures that all funds for state agencies and institutions are accounted for and spent according to state and federal laws and accepted accounting principles.
Department of Planning and Budget
Source: Website
The Department of Planning and Budget (DPB) develops and administers the state budget, which allocates money for state agencies and institutions. The agency also conducts policy analyses and evaluations of state programs and services and oversees the Commonwealth’s strategic planning and performance measurement efforts. In addition, the Department analyzes proposed state legislation, reviews regulations for need and clarity, and prepares economic impact statements on regulations.
Department of Taxation
Source: Website
The Department of Taxation collects taxes, deposits taxes with the state treasury, and administers the tax laws for individuals and corporations.
Department of the Treasury
Source: Website
The Department of the Treasury manages cash in the state treasury and makes payments based on authorizations from the Comptroller; it also issues and manages the state’s debt.
Unclaimed Property Division
Source: Website
The Unclaimed Property Division is responsible for returning money, stocks, bonds, dividends, utility deposits, insurance proceeds and tangible property to the rightful owners.
Virginia Resources Authority
Source: Website
The Virginia Resources Authority infrastructure financing for local governments in the areas of water, wastewater, stormwater drainage, solid waste, brownfield remediation, public safety and airports.
Board of Accountancy
Source: Website
Regulates certified public accountants in Virginia through a program of examination, licensure of individuals and CPA firms, consumer protection through enforcement of statutes and regulations, continuing professional education and peer review oversight.
