The Administration and Finance Division works very closely with other agency divisions and other state agencies, and has many areas of responsibility, including budget management, accounting, grants management, fixed asset accounting and control, and procurement.
The State budget cycle is a continuous process. It is a programmatic budget that contains financial proposals, budget submissions, the agency's goal setting, and performance measurements. The Budget area prepares, revises, and distributes many documents to support this work. Additionally, the area coordinates and prepares the agency's budget proposals and tracks legislation during each legislative session to determine fiscal impacts.
The Accounting area consists of accounts receivable, accounts payable, and general accounting. Accounts receivable is responsible for accounting and depositing revenues for licensing, habitat, oyster ground leasing, engineering, grant funds, and administrative fees. Accounts payable is responsible for issuing vendor payments within prompt payment guidelines, credit card reconciliation, reimbursements, employee travel, and expenditure reimbursement. General accounting functions include reviewing and approving accounts receivable and accounts payable transactions, purchase card administration, reconciling financial records with the state financial system, completing year-end financial statements, and performing the Agency Risk Management and Internal Control review.
The Grants Management area has responsibility for business administration for grants and contracts that have been received by the agency. Much of the program work on these contracts is performed by agency divisions, other state agencies, and non-governmental organizations. The centralized process of federal fund accounting, letter of credit withdrawals, appropriation, and allotment actions for federal funds, approvals of departmental grant proposals and progress reports, are performed by this division. The federal indirect cost plan is prepared yearly; for recovering funds for the state and the agency for overhead costs of federal grant projects.
The Administration and Finance area is responsible for the agency’s property. State-owned property over $1,000 in value is recorded and tracked through a centralized Fixed Asset and Control Accounting System. This property is carefully managed and tracked from the initial purchase, verified annually with inventory audits, and followed through the process of surplus or disposal at useful life end. In addition, the area works with the state insurance programs for verification of insurable property and coordinates with these programs on any claims or losses.
The Procurement area ensures the Virginia Public Procurement Act, the regulations of the Agency Procurement and Surplus Property Manual, and the Commonwealth of Virginia Vendors Manual apply to contracts between state agency and vendors regardless of the source of funds by which the contract is to be paid. The Business Manager has delegated purchase authority for goods and services. The Department of Purchases and Supply will procure any goods over $50,000. Most purchases are considered small purchases, larger purchases are procured through competitive sealed bidding or competitive negotiation. The procurement area coordinates and manages leases and equipment repairs.
For procurement information specific to VMRC, call (757) 247-2200.
Current procurement business opportunities are located at eVA Virginia's Marketplace
