Debt Capacity Advisory Committee
The Debt Capacity Advisory Committee (the "DCAC") reviews the amount and condition of the Commonwealth's tax-supported debt and submits to the Governor an annual report which includes the Committee's estimate of the maximum amount of tax-supported debt that may prudently be authorized in the ensuing fiscal years.
The report also includes the Committee's recommendations as to the use of the Commonwealth's moral obligation pledge and debt for which the Commonwealth has a contingent or limited liability.
Statutory Requirement for Membership
§ 2.2-2712 of the Code of Virginia establishes the membership of the DCAC. The Committee is comprised of the Secretary of Finance (Chair), the State Treasurer, the Director of the Department of Planning and Budget, the Auditor of Public Accounts, the Director of the Joint Legislative Audit and Review Commission and two citizen members who have expertise in financial matters. The citizen members are appointed by the Governor and serve for terms of four years.
Gubernatorial Appointees
| Ronald L. Tillett | Jody M. Wagner |
|---|---|
|
Appointed: July 1, 2014 Term expires June 30, 2018 |
Appointed: July 1, 2015 Term Expires June 30, 2019 |
Ex Officio
|
The Honorable Richard D. Brown (Chair) |
Manju S. Ganeriwala |
|---|---|
|
Secretary of Finance Appointed: August 8, 2008 At Pleasure of Governor |
State Treasurer
Appointed: January 1, 2009 At Pleasure of Governor |
| Daniel S. Timberlake | Martha Sedwick Mavredes |
|
Director Department of Planning & Budget Appointed: August 8, 2008 At Pleasure of Governor |
Auditor of Public Accounts Appointed: February 1, 2013 At Pleasure of Legislature |
| David Von Moll | Harold E. Greer |
|
State Comptroller Appointed: July 1, 2010 At Pleasure of Governor |
Director
Joint Legislative Audit & Review Commission Appointed: September 1, 2013 At Pleasure of Legislature |
| Elizabeth B. Daley | Robert P. Vaughan |
|
Staff Director Senate Finance Committee Appointed: July 1, 2010 At Pleasure of Legislature |
Staff Director House Appropriations Committee Appointed: July 1, 2010 At Pleasure of Legislature |
Staff Contacts
| Janet A. Aylor | Bradley L. Jones |
|---|---|
|
Director of Debt Management
Department of the Treasury P.O. Box 1879 Richmond, VA 23218-1879 (804) 371-6006 |
Public Finance Manager Department of the Treasury P.O. Box 1879 Richmond, VA 23218-1879 (804) 225-4929 |
| Sherwanda Cawthorn | |
|
Senior Public Finance Analyst
(804) 225-4931 |
|
