Premier Partner News – VML/VACo Finance

February 5, 2021

VML/VACo Finance is the financial services arm of the Virginia Association of Counties (VACo) and Virginia Municipal League (VML). We provide high quality financial services at low cost, a goal achieved through cost-sharing. We offer services in the following areas: Financing & Municipal Advisory, Investments, and Accounting. Our investment programs comprise the VACo/VML Pooled OPEB Trust and the Virginia Investment Pool.

Financing & Municipal Advisory: Since 2003, VML/VACo Finance has assisted Virginia local governments and authorities in financing more than $1 billion in capital projects and equipment. As an MSRB-registered Municipal Advisor, we help you select the lowest-cost source of financing best suited for your unique requirements. We assist local officials with municipal bonds, bank loans, state loan programs, equipment leasing, and two low-cost programs, exclusive to VML/VACo Finance, with no program closing costs. Additional Municipal Advisory services include preparing a credit benchmark and debt capacity analysis, developing a plan of finance, and developing financial policies tailored to meet your needs.

VACo/VML Pooled OPEB Trust: The VACo/VML Pooled OPEB Trust Fund is the largest OPEB investment pool in the U.S. With more than $1.3 billion in assets, we’re the #1 choice of Virginia localities and authorities looking to invest in a professionally-managed, high earning trust to offset liabilities related to post-employment benefits other than pension (OPEB). The Pooled OPEB Trust offers two investment portfolios with unique target rates of return to accommodate participants with different return objectives and risk tolerances. We also provide actuarial studies prepared by Milliman at discounted fee levels to calculate your OPEB liabilities.

Virginia Investment Pool: The Virginia Investment Pool (VIP) was established to provide political subdivisions of the Commonwealth of Virginia an investment vehicle to pool their funds and to invest under the direction and daily supervision of a professional fund manager. VIP was developed in 2013 by local Treasurers and investment officers through the sponsorship of VACo and VML. VIP consists of two portfolios: the VIP Stable NAV Liquidity Pool and the VIP 1-3 Year High Quality Bond Fund. The VIP Stable NAV Liquidity Pool is rated AAAm by Standard & Poor’s (S&P) and offers a stable net asset value, daily liquidity and a competitive yield. The VIP 1-3 Year High Quality Bond Fund is rated AA+f/S1 by S&P and is designed for funds that can be invested generally for one year or longer. An online interface enables participants to connect their VIP accounts to external bank accounts for convenient access.

Accounting Services: VML/VACo Finance provides quality, affordable, accounting 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. We are a cost-efficient way to supplement your staff at year-end or year-round.

All of our programs are designed to benefit a wide range of localities, including counties of all sizes and credit strengths. For more information, contact Steve Mulroy at 804.648.0635 or info@valocalfinance.org. Visit our Web site at www.valocalfinance.org.

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