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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 William K. Butler
Appointed: July 1, 2010
Term expires June 30, 2014
Appointed: July 1, 2011
Term Expires June 30, 2015

Ex Officio

The Honorable
Richard D. Brown
(Chair)
Manju 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

Evelyn R. Whitley 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
Public Finance Analyst
(804) 225-4931