The undeclared $41 million Virginia State Bar income, many questions surround the massive amount!
On the Virginia State Bar website, the Treasurers annual report declares the income, operating expenses and "other distributions". No where on their website is the undeclared income which averages over $10 million per year.
Why is this income hidden from the public?
Click for: Virginia State Bar Annual Reports
Below is a chart of the financials concerning the VSB income
On the Virginia Government Data Point website, the declared total income is stated.
Click for: Virginia Government Data point website
You might say that, "oh, it was an oversight or accidentally omitted", well no, actually the "undeclared extra income" had been on their website but after our investigators questioned VSB staff, the link was removed.
Lets look at the VSB Regulations for Finance & Budget:
(A.) General Assembly Appropriation
Although it is a state agency, the Virginia State Bar receives no general fund or tax dollars. It is funded by dedicated special revenues derived primarily from bar dues which are held in the State Bar Fund with the Department of the Treasury. Regardless of cash balances on hand in the State Bar Fund, the VSB is authorized to spend only the amount of money appropriated to it by the General Assembly of Virginia in the state budget. The bar’s appropriation request is included in the Governor’s budget prior to review and approval by the General Assembly.
(B.) Special Funds
Virginia State Bar funds are held in three separate accounts: the State Bar Fund; the Administration and Finance Account,
and the Clients’ Protection Fund. Each of these accounts is authorized by statute or rule of court and is audited annually by the State’s Auditor of Public Accounts.
The State Bar Fund is the bar’s operating account. This fund is comprised of member dues and penalty fees, as well as fees
from a variety of other sources including MCLE sponsors, professionalism course registration, cost assessments in disciplinary
matters and section revenues. Va. Code § 54.1-3913.
The Administration and Finance Account was created in 1987 to manage revenues and expenses for meetings that are supported
by registration receipts rather than mandatory dues. The Annual Meeting is handled through the A&F Account. The fund
is used to pay expenses that cannot be paid with state funds. Va. Sup. Ct. R. Part 6, § IV, ¶9(i).
The Clients’ Protection Fund was established in 1976 to make monetary awards to persons who have suffered financial
losses because of the dishonest conduct of a Virginia lawyer.
The General Assembly and the Supreme Court approved a $25 per year assessment for each active member of the bar. Approximately $800,000 per year is added to the fund from this annual assessment. In February 2013, the General Assembly extended the $25 assessment through June 30, 2020.
Click for: Virginia State Bar Finance & Budget regulations
- Who is giving an average $10 million per year to the VSB.
- Why are they giving $10 million per year?
- Where is the undeclared $10 million per year being spent?
- What are the reasons for the $10 million per year undeclared funds?
- Why is the VSB hiding this massive amount of cash?
Lets review our previous posts that exposed the VSB corruption:
- Virginia state Bar $900,000 catering scandal
- Virginia State Bar extravagant foreign travel
- Virginia State Bar $2.8 million computer scandal
- Virginia State Bar excessive salary scandal
- Virginia State Bar $9.7 million Client Protection slush fund
Do you still think that the Virginia State Bar should not be audited? The last audit was 22 years ago (1995)
OK, well return to your work!
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