About VML/VACo Finance

VML/VACo Finance was established in 2003 by the Virginia Municipal League (VML) and Virginia Association of Counties (VACo) to address many of the financial needs of Cities, Counties, Towns, School Divisions, and Authorities in the Commonwealth of Virginia. We pool the resources of local governments in order to provide superior financial services at lower cost. Our programs are designed to benefit governmental entities of every size and financial strength, including the entire range of local governments represented within the memberships of VML and VACo, as well as the school divisions, authorities, and other governmental entities that provide essential services to their constituents.

VML/VACo Finance has made over $1.0 billion in governmental loans, manages invested assets of $2.5 billion, and has served 260 political subdivisions.

Participants to Date



Accomack County

Accomack-Northampton PDC

Accomack-Northampton Redev & Housing Authority

Albemarle County


Alexandria City Public Schools

Alexandria Renew Enterprises

Alleghany County Public Schools

Amelia County

Amelia County Public Schools


Amherst County


Appomattox County

Appomattox County Public Schools

Arlington County



Bath County


Bedford Regional Water Authority

Big Stone Gap Redev & Housing Auth



Bland County Public Schools


Bowling Green



Brunswick County

Brunswick County Public Schools


Campbell County

Cape Charles

Caroline County

Caroline County Public Schools

Carroll County

Central Virginia Regional Jail

Central Virginia Waste Management Authority

Charles City County

Chase City

Charlotte County



Chesapeake Public Schools

Chesterfield County

Chesterfield County Public Schools


Clarke County

Colonial Beach

Colonial Community Services Board


Craig County

Crater Criminal Justice Academy



Culpeper County

Cumberland County



Danville-Pittsylvania Community Services


Dickenson County Public Schools

Dickenson County Social Services

Dinwiddie County

Dinwiddie County Public Schools







Fairfax County

Fairfax County Public Schools

Falls Church

Fauquier County

Floyd County

Fluvanna County


Franklin City Schools

Franklin County

Frederick County Sanitation Authority


Fredericksburg City Schools

Front Royal



Gate City

Giles County

Giles County Public Schools

Giles County Public Service Authority


Gloucester County

Goochland County


Greene County


Hampton Roads Criminal Justice Academy

Hampton Roads PDC

Hampton Roads Regional Jail

Hampton Roads Sanitation District

Harrisonburg Electric Commission

Harrisonburg Rockingham Community Svcs

Harrisonburg Rockingham RSA


Health Care Commission of Chesterfield Co.

Henrico County

Henry County

Henry County Public Service Authority

Henry County Public Schools

Henry County/Martinsville Social Services


Highlands Community Services Board



Horizon Behavioral Health


IDA of Stafford County & Staunton, VA

Isle of Wight

Isle of Wight Public Schools




King & Queen County

King George County Public Schools

King William County

King William County Public Schools


Lancaster County


Lee County

Lee County Public Schools

Lee County Social Services



Loudoun County

Loudoun Water


Louisa County

Louisa County Water Authority


Lunenburg County Public Schools


Madison County


Manassas Park

Mathews County

Matthews County IDA

Mathews County Public Schools

Mecklenburg County

Mecklenburg County Public Schools


Middlesex County Public Schools

Montgomery County

Montgomery County Public Schools

Montgomery Regional Solid Waste Auth

Mt. Rogers Community Services Board


Nelson County

Nelson County Public Schools

Nelson County Service Authority

New River Valley 911

New River Valley Community Services

New River Valley Jail Authority

Newport News Public Schools

Newport News Redevelopment & Housing

Northern Virginia Regional Commission

Northern Virginia Transportation Authority

Northumberland County

Northumberland County Public Schools

Northwestern Community Services Board






Orange County


Page County

Patrick County


Pennington Gap




Powhatan County

Prince George County

Prince William County Public Schools

Prince William Co. Service Authority


Pulaski County




Radford City Public Schools

Rapidan Service Authority

Rappahannock Area Community Services

Rappahannock Juvenile Center

Rappahannock Rapidan Community Services Board

Rappahannock Rapidan Regional Commission

Rapphannock Regional Jail Authority

Region 2000



Richmond Behavioral Health Authority

Richmond County

Richmond County Public Schools

Richmond Metropolitan Transportation Authority

Rivanna Water & Sewer Authority


Roanoke County

Roanoke County Public Schools

Roanoke Regional Airport Commission

Rockbridge County

Rockingham County

Rocky Mount

Round Hill

Rural Retreat


Saint Paul


Salem City Schools

Scott County Public Service Authority



Southampton County

South Boston

Southeastern Cooperative Educ Progs

Southeastern Public Service Authority

Southwest Virginia Regional Jail

Spotsylvania County

Spotsylvania County Public Schools

Stafford County

Stafford County Public Schools



Suffolk City Public Schools

Surry County

Sussex County




Tazewell County

Tazewell County Public Service Authority

Thomas Jefferson Planning District Commission


University of Mary Washington






Virginia Beach

Virginia Beach City Public Schools

Virginia Tech

Virginia’s First Regional Industrial Facilities Authority



Warren County



Washington County

Washington County IDA

Washington Metropolitan Area Transit Authority


Western Tidewater Regional Jail

Western Virginia Water Authority

Westmoreland County

Westmoreland County Public Schools

Winchester Parking Authority



Wise County

Wise County Public Service Authority


Wythe County




York County

York County School Division


Virginia Local Government Finance Corporation Board of Directors

VML/VACo Finance is incorporated in the Commonwealth of Virginia as the Virginia Local Government Finance Corporation (VLGFC), a Virginia not-for-profit corporation. VLGFC is the program administrator for all of VML/VACo Finance’s programs including the VACo/VML Pooled OPEB Trust and the Virginia Investment Pool, which are governmental trusts established by their participating local governments. The VLGFC Board of Directors is the governing body for VML/VACo Finance, charged with developing and managing programs, selecting service providers, and establishing program rules fees, and timetables. The Board of Directors is composed of eleven members nominated by the leadership of VML and VACo. Hefty & Wiley, P.C. is General Counsel. Spotts Fain PC serves as bond counsel.

Virginia Local Government Finance Corporation

Board of Directors – 2019-2020

C. James Ervin, President

Town of Rocky Mount

Michael Johnson, Vice President

Southampton County

Thomas Foley

Stafford County

Michelle Gowdy

Virginia Municipal League

Michael G. Hamp

City of Waynesboro

Gary Larrowe

Botetourt County

Dean A. Lynch

Virginia Assoc. of Counties

Terry Payne

IDA of Stafford Co. & Staunton, VA

Steven L. Rosenberg

City of Staunton

Douglas P. Stanley

County of Warren

Barry W. Thompson

Town of Vinton

VML/VACo Finance Staff

Robert W. Lauterberg, Managing Director

Robert Lauterberg has served as Managing Director of VML/VACo Finance since the program’s inception in 2003. Previously, Lauterberg was Executive Director of the Virginia Resources Authority (VRA), 1998-2002, during which he introduced VRA’s Pooled Loan Bond Program. His financial experience includes serving as State Budget Director, 1994-1998, and as a strategic planner for the Bell Atlantic Corporation, 1985-93. Lauterberg is a past chair of the National League of Cities Public Finance Consortium and serves on the Finance Committee of the Virginia Public Access Project. He has also served on the Boards of Directors of the Council of Infrastructure Financing Authorities, the National Association of State Budget Officers, and the Loan Review Committee of Southeast R-CAP. He was formerly a member of the Board of Visitors of George Mason University, the Virginia College Building Authority, and the Virginia Debt Capacity Advisory Committee. Lauterberg holds a B.S. in economics from the University of Florida and an M.B.A. from the George Washington University. He is registered as a Municipal Advisor representative with the MSRB and S.E.C.

Steven C. Mulroy, Managing Director

Steve Mulroy joined VML/VACo Finance in 2006 and serves as Managing Director. In this capacity, he has played an integral role in establishing, and continues to have day-to-day responsibilities for, the Program’s Pooled OPEB Trust Fund (2008) and the Virginia Investment Pool (2013). He also has oversight responsibility for the Program’s financing and equipment leasing programs. Since joining VML/VACo Finance, Mulroy has arranged over $750 million in financings for local governments and authorities. Prior to joining VML/VACo Finance, Mulroy had thirteen years of public finance and financial advisory experience, including stints at Ferris, Baker Watts and Legg Mason Wood Walker. As an investment banker, he successfully closed on bond issues for a variety of tax-exempt borrowers, including municipalities, colleges, and health care providers. Mulroy also spent two years as a stock equity analyst covering the property-casualty insurance industry. Mulroy is a founding member of the National League of Cities Public Finance Consortium and a member of Chesterfield County’s Citizen’s Budget Advisory Committee. Mulroy earned an M.B.A. from New York University and graduated with a B.S. in finance from Villanova University. He also successfully passed the Level 1 Chartered Financial Analyst exam. He is registered as a Municipal Advisor representative with the MSRB and S.E.C.

Beau Blevins, Director of Government Consulting

Beau Blevins is VML/VACo Finance’s principal local government liaison. In this capacity, he advises local clients on finance issues and leads business development and government relations efforts. Blevins previously served as the Director of Intergovernmental Affairs for the Virginia Association of Counties (VACo) for six years, where his chief duties included local government relations and advocacy in the areas of tax and finance. In addition, he served as a Senior Budget Advisor at the Virginia Department of Planning and Budget under two gubernatorial administrations where he regularly advised executive officials on financial and policy-related matters. At the local level, Blevins was as an Urban Planner for James City County and, at the federal level, a staffer for Congressman Frederick C. “Rick” Boucher. Blevins serves as treasurer of the National Association of County Intergovernmental Relations Officials and is a member of the National Association of Counties’ Finance Committee. In 2013, he was appointed by the governor to serve on the Board of Visitors to George Washington’s Mount Vernon. Blevins graduated from the LEAD VIRGINIA program in 2014. He holds a Masters in Public Administration from George Mason University and a B.A. in Political Science from Emory & Henry College.

Taylor Bryant, Senior Financial Analyst

Taylor Bryant is responsible for the management of VML/VACo’s financing programs. Over the last five years, Taylor worked in the banking sector with several firms in Maryland and Virginia. He worked with Bay Bancorp in various credit roles through its successful sale and merger with Old Line Bancshares. Most recently Taylor worked in portfolio management at Freedom Bank of Virginia where he was responsible for new debt origination across all asset classes and existing portfolio analysis. Bryant holds a B.A. from the University of Virginia. He is registered as a Municipal Advisor representative with the MSRB and S.E.C.

Timothy Bunch, Investment Services Manager

Timothy Bunch is primarily responsible for analytical and administrative duties related to the VACo/VML Pooled OPEB Trust and Virginia Investment Pool programs. Previously, Timothy spent five years working in various capacities with the North Carolina Community College System. His financial experience includes work as a Series 7 and Series 63 registered member of The Vanguard Group. Timothy earned a B.A. in economics from the University of North Carolina at Chapel Hill and an M.B.A. from the University of North Carolina at Charlotte. He is registered as a Municipal Advisor representative with the MSRB and S.E.C.

Melissa Burke, C.P.A., Controller

Melissa joined VML/VACo Finance as its Controller in 2019. Melissa’s primary responsibilities include overseeing the internal accounting and controls of VML/VACo Finance’s programs, including the Virginia Investment Pool, the VACo/VML Pooled OPEB Trust, and Municipal Advisory Services. Duties include auditing and reporting to governmental Boards of Trustees. Melissa has more than seven years of auditing and financial reporting accounting experience, including six years in the Commonwealth of Virginia’s Auditor of Public Accounts (APA). As a senior auditor with the APA, Melissa served as auditor in charge of high-risk and high-profile audits, including auditing investments, pensions and other post-employment benefit plans. Melissa has a B.S. in Business Administration from Old Dominion University.

Jenny Fletcher, Client Relations Specialist & Office Manager

Jenny Fletcher assists clients of VML/VACo Finance with all services and is the primary point of contact on administrative matters for members of the Virginia Government Finance Officers’ Association. Previously, she worked as a customer services representative for a major retailer. Fletcher has a B.S. degree from Virginia Commonwealth University.

Gladys Gomez, C.P.A., Senior Accounting Consultant

Since 2013, Gladys Gomez has staffed and supervised an array of VML/VACo Accounting Services engagements and internal accounting roles. Her professional experience includes serving as Director of Finance & Accounting for Stafford County Public Schools, and as Financial Audit Manager for PricewaterhouseCoopers. Previously, Gomez was a full-time accounting instructor at the University of Mary Washington. She holds a B.S. degree in Accounting and an M.B.A. from the University of Southern California.

Dan Van Doornik, C.P.A., Senior Accounting Consultant

Dan Van Doornik specializes in year-end closing and audit preparation; accounting system implementation and development; and reporting and accounting process improvement. Mr. Van Doornik served as Director of Finance & Administration for Hopewell Redevelopment & Housing Authority, Chief of Revenue Administration for the City of Richmond, and Accounting Manager for the Urban Redevelopment Authority of Pittsburgh. He also served as Project Champion for the City of Richmond’s revenue and billing system implementation and as Project Manager for the URA of Pittsburgh’s ERP system implementation.