Executive Director

Dr. Sheryl Bailey was appointed the Executive Director of Virginia Resources Authority (VRA) in January 2006.  Her extensive background and passion for local government financing have greatly increased the benefits VRA provides to the Commonwealth.  Under Dr. Bailey’s leadership, annual financial support to local communities quadrupled; new and innovative financing programs were developed; eligible project areas doubled; partnerships and collaborations with state-agency partners were strengthened and expanded; regional workshop series were developed; and a blue ribbon advisory council of community leaders was established.  These advancements have resulted in VRA providing over $2.2 billion of funding to Virginia’s localities for critical infrastructure projects since 2006, greatly enhancing the health, safety and vitality of Virginia’s communities.   VRA’s financings pump substantial dollars into communities that generate jobs and economic growth statewide and its cost-effective loans and grants save Virginia’s taxpayers millions of dollars annually in financing costs. 

Dr. Bailey has nearly 20 years of experience in government finance and administration, including directing financial policy and planning in the cities of Hampton and Norfolk, Virginia, where she directed complex municipal debt and capital management programs.  In these capacities, she also oversaw financial, regional and international programs and large strategic initiatives, such as MacArthur Center, the Peninsula Workforce Development Center and the Hampton Roads Convention Center.

Dr. Bailey also served as Deputy Secretary of Administration where she oversaw nine executive branch agencies and several landmark initiatives, including transforming the statewide real estate program into an integrated, customer-focused process, achieving over $10.6 million in savings and cost avoidance within the first nine months of implementation.  She also directed an intricate, $800 million multi-agency budget and oversaw the comprehensive reengineering of veterans services, capital outlay, procurement, mail services and other key enterprise-wide functions for enhanced efficiency, effectiveness and performance.

Dr. Bailey has been active for many years with the Government Finance Officers Association, including serving as Co-Chair and Subcommittee Chair of the National Standing Committee for Governmental Budgeting and Management (1997-2002) and Women’s Network Co-Chair (1999-2000).  She also is a graduate of the Virginia Executive Institute, the Senior Executive Institute of the University of Virginia’s Weldon Cooper Center for Public Service and Leadership Metro Richmond. 

A native of Norfolk, Dr. Bailey received her undergraduate training at Norfolk State University and she achieved her Master and Doctorate degrees in Economics at Harvard University.  Dr. Bailey is known for her work in strategic and financial management, having served as a consultant to organizations worldwide and a faculty member for several universities.