Local Finance Solutions
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Local Finance Solutions
VML/VACo Equipment Leasing is a lease-purchase financing program that offers Virginia localities, school divisions, and authorities a hassle-free, cost effective way to finance the acquisition of vehicles, moveable equipment (such as communication systems, information technology, and refuse equipment), and energy savings building upgrades.

Take advantage of today's historically low interest rates! Congratulations to staff members Angie Dreelin and Caroline Roberts for successfully passing the Series 50 MA Exam! Since 2003, VML/VACo Finance has assisted Virginia local governments and authorities in financing more than $1 billion in capital projects and equipment.
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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.
Whether your locality is taking a fresh look at its financial foundations, planning for future capital projects, or is ready to get a project underway, VML/VACo Finance can help. VML/VACo Finance is registered as a Municipal Advisor (MA) with the Municipal Securities Rulemaking Board (MSRB) and the Securities and Exchange Commission.
Local governments, school districts, and authorities that provide health insurance and other non-pension post-employment benefits (OPEB) to retirees are required by current governmental accounting standards to quantify and report the future cost of the benefits in their financial statements.

In order to avoid reporting potentially large and increasing liabilities, highly-rated governments in Virginia typically choose to fund their OPEB liabilities as they accrue.For those that fund OPEB, the VACo/VML Pooled OPEB Trust is, hands down, Virginia's most popular investment vehicle. The requirement to report OPEB liabilities within government financial statements began with Governmental Accounting Standards Board (GASB) Statement 45.
The Virginia Investment Pool Trust Fund (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 with the sponsorship of the Virginia Association of Counties and the Virginia Municipal League.
Could your finance staff use some assistance during audit preparation and other critical times of the year? Are you struggling to make year-end entries and adjustments? 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.
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