NVTA

Our Role

The Finance Committee is responsible for advising the Authority on all financial matters and overseeing the financial activities undertaken by the NVTA professional staff.

Staff Support

Staff support will be provided by the NVTA staff. As requested by the committee Chair, additional support may be provided by jurisdictional or agency staff.

NVTA Staff Lead

Michael Longhi, CFO

Membership

The Committee shall consist of five (5) members of the NVTA appointed by the Chair of the NVTA for staggered two-year terms. The Chair and Vice Chair of the Committee shall be appointed by the Chair of the NVTA.

Chair
Hon. David Snyder, City of Falls Church 

Member
Hon. Phyllis J. Randall, Loudoun County 

Member
Hon. Michelle Davis-Younger, City of Manassas

Vice Chair
Vacant

Member
Hon. Deshundra Jefferson, Prince William County 

Member
Hon. Matt de Ferranti, Arlington County 

Next Upcoming Meeting

Upcoming Meetings

Finance Committee
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Meeting Schedule

The Finance Committee meets on the second Thursday of each month at 6 P.M. at the NVTA offices to discuss matters related to its responsibilities.

Past Meeting

Finance Committee Meeting

Cancelled
Event date and time:

View Archived Meeting Materials

NVTA Charge

This committee shall be responsible for advising the Authority on all financial matters and overseeing financial activities undertaken by the NVTA professional staff, including: 

  • Reviewing, commenting on, and recommending the annual budget presented by the Chief Executive Officer (CEO) 
  • Reviewing, commenting on, and recommending any budget amendments presented by the CEO 
  • Overseeing the NVTA’s financial policies (e.g., bond, investment, procurement, risk management) and making appropriate recommendations 
  • Monitoring contracts for services, including financial services, and recommending task orders 
  • Monitoring NVTA’s expenditures for compliance with policies and guidelines of the NVTA 
  • Reviewing, commenting on, and recommending annual revenue estimates and funds available for future project funding, using available funds (PayGo), term loans, lines of credit or the sale of public debt (bonds). 
  • Approving the selection of an audit firm and audit work plan supporting the annual preparation of financial statements. 
  • The Finance Committee serves as the Authority’s Audit Committee. 
  • Assisting with other financial activities as may be directed by the NVTA. 

Governance

Statute

The Authority may, in its discretion, form additional advisory committees (§ 33.2-2507. Formation of advisory committees).  The Authority Bylaws, Article V. A. 2.a. established the Finance Committee as a Standing Committee. 

Quorum and Voting

A quorum shall consist of a majority (3) of the committee members. The committee shall strive for consensus when developing recommendations. Approval of recommendations or actions shall require an affirmative vote of a majority of the members present.