Annual Reports

Some of VEDA’s recent Annual Reports may be downloaded from this page. This requires Adobe Acrobat Reader 5.0 or later. If you do not have Adobe Acrobat Reader click here.

 

An excerpt from the Annual Report for the fiscal year ended June 30, 2018:

“…In FY 2018, VEDA closed a record number of financings – a total of $167.8 million. This amount is 1.8x the largest previous annual volume in the Authority’s history. Of the financings VEDA closed in FY 2018 (excluding tax-exempt bonds), 41% were agricultural loans, 29% were for commercial projects, 16% were energy projects, and 14% were small business projects. The amount of private capital leveraged in these projects was $93.3 million.

As most everyone is aware, the agricultural economy has suffered during the last several years due to low milk prices and high input costs. This, in turn, has caused the price of working assets (cows, machinery and equipment, etc.) to decline. In response to this challenging situation, the Vermont Agricultural Credit Corporation (VACC), VEDA’s agricultural lending subsidiary, worked with your Administration, the Department of Agriculture and the General Assembly to establish the Farm Operating Loan Program. The Program was designed to make Operating Loans to farmers for working capital. Many farmers used these funds to pay off seed and grain bills and some made use of the loans for general working capital to help them remain in business. VACC continues to provide cash-flow relief to Vermont’s dairy farmers to help them withstand the negative effects of these economic pressures. On a positive note, we are seeing diversification on many farms as they expand their product offerings.

At June 30, 2018, VEDA had $300.3 million in total assets. Its loan portfolio totaled $266.7 million. This reflects an industry mix of 39% agriculture, 15% services, 13% tourism, 12% manufacturing, 12% energy generation and distribution, 5% wholesale/retail trades, and 4% other commercial. Since its inception in 1974, VEDA has approved 7,703 separate financing instruments totaling $2.564 billion…”

Audited Financial Statements

To review VEDA's Financial Statements with Supplementary Information as of and for the Years Ended June 30, 2018 and 2017 (and Report of Independent Auditors), click here

 

Additional financial information may be obtained by contacting VEDA.