b'A MESSAGE FROM LEADERSHIPWe invite you to explore the Fiscal Year 2025 (FY25) financial journey of the Capital Region Airport Commission and Richmond International Airport (RIC)the gateway to Virginias Capital Region and a vital engine for regional connectivity and economic vitality.This annual report serves as a companion to the formal These efforts strengthened the customer experience through Annual Comprehensive Financial Report (ACFR) for the fiscalenhanced training, expanded amenities, improved accessibility year ended June 30, 2025, prepared by the Commissionsand language services, and active passenger feedback, Finance Department. The ACFR follows the Governmentwhile also advancing internal capabilities in human capital, Finance Officers Associations (GFOA) recommended standardsinformation technology, and operational efficiency. At the for financial reporting and provides a detailed, audited accountsame time, the Commission deepened its role as a regional of the Commissions financial position and performance.economic partner by expanding air service development The GFOA has awarded the Commission a Certificate ofefforts, improving site readiness, and engaging small and Achievement for Excellence in Financial Reporting for 35emerging businessescontributing to measurable gainsconsecutive years. in growth, performance, and long-term readiness.FY25 marked the culmination of the Commissions Serve 2025Throughout FY25, RIC advanced with purpose, strengthening strategic plan and reflected a period grounded in service its foundation, planning for future growth, and positioningan enduring principle that guides our mission. Over thethe airport to deliver a world-class customer experience and life of the plan, service was intentionally embedded acrossoperational excellence in support of the regions prosperity.the organization through investments in people, technology, accessibility, and community engagement. Respectfully submitted,Perry J. Miller, PhD, AAE, IAPBasil O. Dosunmu, CPA, CIA, AAE President and Chief Executive Officer Chief Financial Officer 1'