Standing Committee on Budget and Finance

Alan S. Anderson, chair

The Standing Committee on Budget and Finance met on April 28, 2014, to review and approve the staff’s proposal for the 2014/2015 operating budget. The Supreme Court of Virginia approved the budget on June 5, 2014, and it was reviewed and approved by the Executive Committee on June 11, 2014. On June 12, 2014, bar council considered, and unanimously passed, an operating budget of $14,644,000 for the 2014/2015 fiscal year for the bar.         

This budget reflects a decrease of $18,000 over the budget for the prior fiscal year which ended on June 30, 2014. The decrease was primarily due to the elimination of all but $50,000 of the $500,000 budgeted in FY2014 for the VSB office relocation and a decrease in office space rent for FY2015 due to several months of free rent.

The members of the Supreme Court met with the executive director and assistant executive director for finance prior to approving the FY2015 budget. Due to the rapid decline in the bar’s cash balance as projected for future years, the court indicated the bar must reduce expenses by 5 percent during FY2015. A plan was developed and presented to the court in mid-July 2014.

The committee continues to evaluate the appropriate levels of reserves and dues for the bar.  

Updated: Aug 08, 2014