The House General Laws Professions and Occupations and Administrative Process Subcommittee voted 7-0 to report House Bill 1567, which would permit VDP to include its annual operational plan and the most recent Auditor of Public Accounts audit report in place of separately prepared audited financial statements.

Supporters told the panel the change would streamline reporting and reduce redundant auditing work. Delegate Wiley, the bill patron, said the practice is already in use and was recommended by the audit director: “They currently get 2 audits per year and it’s basically redundant,” Wiley said, adding that the proposal would “improve efficiency and reduce cost by utilizing the work already performed by the Auditor of Public Accounts.”

Wiley said the Department of Accounts currently relies on a template of financial information that VDP provides when preparing common financial statements and that the APA does not use VDP’s separately prepared financial statements. Committee members asked whether the two audits had produced substantive findings; Wiley replied, “That’s correct,” when asked whether there had been no substantive adverse findings in those audits.

The bill was moved and seconded (movers not recorded in the hearing transcript) and reported out of the subcommittee by roll call, 7-0.

The measure will now proceed in the legislative process as reported by the subcommittee.