Treasury Board

The Treasury Board is a policy board in the executive branch of the State government established under Section 2.2-2416 of the Code of Virginia. The Government Non-Arbitrage Investment  Act empowers the Treasury Board, among other things, (i) to provide assistance to Issuers in the management of and accounting for their funds, including, without limitation, bond proceeds, and the investment thereof, any portion of the investment earnings on which is or may be subject to rebate to the federal government, (ii) to establish one or more pools of their bond proceeds and other funds for investment and reinvestment in authorized investments, and (iii) to enter into contracts with independent investment managers, accountants, counsel, depository institutions and other advisors and agents and with Issuers with respect to the provision of investment and related services and advice.

Members of the Virginia Treasury Board include:

 Treasury Board

David L. Richardson, Chair
State Treasurer

Lewis R. McCabe
State Comptroller

Craig M. Burns
Tax Commissioner
Neil Amin
Gubernatorial Appointee
Charles King
Gubernatorial Appointee
James Carney
Gubernatorial Appointee
Dr. Joshua Weed
Gubernatorial Appointee


For more information about the Treasury Board or the Virginia Department of Treasury please visit 

The link above is to third-party website which is external to the Program's website, and as such is not controlled by the SNAP Program. Clicking on this link will open an additional window in your browser. You will not leave the SNAP website. The Program has not participated in the preparation of the material on this third-party website, and the Program does not explicitly or implicitly endorse or approve the information on the website.

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On October 27, 2016, the SNAP Fund (“SNAP Fund” or “Fund”) was established as a local government investment pool. The Fund invests in securities permitted by Code of Virginia §2.24500 et seq. and may hold deposits subject to Code of Virginia § 2.24400 et seq. Additional information on the Fund’s investment policies can be found in the SNAP. 

This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the investment objectives, risks, charges and expenses before investing in the Virginia State NonArbitrage Program (“SNAP®” or the “Program”). This and other information about the Program is available in the SNAP® Information Statement, which should be read carefully before investing. A copy of the SNAP® Information Statement may be obtained by calling 1800570SNAP (7627) or is available on the Program’s website at While the SNAP® Fund Portfolio seeks to maintain a stable net asset value of $1.00 per share, it is possible to lose money investing in the Program. An investment in the Program is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the SNAP® Fund Portfolio are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) ( and Securities Investor Protection Corporation (SIPC) ( PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.