CTB Updates Performance-Based Funding Policy for VRE

The Commonwealth Transportation Board approved updated policy and guidelines governing annual funding allocations for Virginia Railway Express, tying up to 3.5 percent of the Commonwealth Mass Transit Fund to performance measures and detailed budget submissions. The policy establishes conditions for withholding and releasing funds and requires regular reporting and appearances before the Board by VRE leadership.

Scope & details

The full contract record, as filed.

Contract amount

Up to 3.5% of Commonwealth Mass Transit Fund annually (amount varies by year)

Contract type

FINANCIAL_SERVICES

Contract term

Annual funding allocations beginning in Fiscal Year 2024, reviewed at least every three years

Renewal

Policy supersedes the July 22, 2023 VRE funding guidelines and requires CTB review and potential revision at least every three years; annual allocations continue contingent on VRE meeting budget and performance reporting requirements.

Document type

AgendaPacket

Source document

Commonwealth Transportation Board AgendaPacket Meeting 2026-07-22

Related contracts

Other contracts from Virginia Railway Express (vre).

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commonwealth_transportation_board_workshop_agenda.pdf

PENDING

Virginia Department of Transportation, VirginiaJan 6, 2026

commonwealth_transportation_board_workshop_minutes.pdf

commonwealth_transportation_board_meeting_agenda_j.pdf

APPROVED

Virginia Department of Transportation, Virginia$17,400,000Jul 16, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Virginia Department of Transportation?

Virginia Railway Express (vre) was awarded this financial services contract by Virginia Department of Transportation, as recorded on July 22, 2026. The contract value is Up to 3.5% of Commonwealth Mass Transit Fund annually (amount varies by year).

How much is the Virginia Railway Express (vre) contract with Virginia Department of Transportation worth?

The Virginia Railway Express (vre) contract with Virginia Department of Transportation is valued at Up to 3.5% of Commonwealth Mass Transit Fund annually (amount varies by year), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Commonwealth Transportation Board AgendaPacket Meeting 2026-07-22 (AgendaPacket), dated July 22, 2026 from Virginia Department of Transportation. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Virginia Railway Express (vre) hold?

Virginia Railway Express (vre) may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Virginia Railway Express (vre)'s profile

What is Virginia Department of Transportation currently buying?

Explore Virginia Department of Transportation's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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