Effective July 1, 2008

(Updated with CEO spending authority limits effective September 2020)

• Full authority of spending, provided the amount is included in the annual budget and six- year financial plan
• Approval of fare changes (tariffs)
• All contractual agreements, provided funding is included in the approved budget, with the exception of any operation agreements (including CSX and NS) and Insurance
• Responsibilities not delegated:

1. • Amendments to the Master Agreement
   • Hiring and termination of the Chief Executive Officer
   • Statewide and federal grant applications
   • Approval of legislative agendas
   • Approval of strategic plan
   • Sale or purchase of real property and equipment in the Commissions’ name
   • Other major policies such as terms for new entrants
   • Other actions reserved for the Commissions by the Master Agreement, such as approving annual budgets/six-year financial plans.

VRE Operations Board approved spending authority delegated to VRE CEO:

• VRE CEO’s authorization limit to award contracts up to $200,000 and procurement authorizations up to $1,000,000 (effective September 2020)