Evergreen - Prudential

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NOTES TO FINANCIAL STATEMENTS continued of the adoption date. Management of the Fund is currently evaluating the impact that the adoption of FIN 48 will have on the financial statements. FIN 48 will become effective for fiscal years beginning after December 15, 2006. In September 2006, FASB issued Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“FAS 157”). FAS 157 establishes a single authoritative definition of fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. FAS 157 applies to fair value measurements already required or permitted by existing standards. The change to current generally accepted accounting principles from the application of FAS 157 relates to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurements. Management of the Fund does not believe the adoption of FAS 157 will materially impact the financial statement amounts, however, additional disclosures may be required about the inputs used to develop the measurements and the effect of certain of the measurements on changes in net assets for the period. FAS 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. 30
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Board of Trustees and Shareholders Evergreen Variable Annuity Trust We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of the Evergreen VA Balanced Fund, a series of the Evergreen Variable Annuity Trust, as of December 31, 2006 and the related statement of operations for the year then ended, statements of changes in net assets for each of the years in the two-year period then ended and the financial highlights for each of the years or periods in the five-year period then ended. These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2006 by correspondence with the custodian and brokers, or by other appropriate auditing procedures where replies from brokers were not received. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of the Evergreen VA Balanced Fund as of December 31, 2006, the results of its operations, changes in its net assets and financial highlights for each of the years or periods described above, in conformity with U.S. generally accepted accounting principles. Boston, Massachusetts February 12, 2007 31
Page 1 and 2: Evergreen VA BALANCED FUND Annual R
Page 3 and 4: LETTER TO SHAREHOLDERS February 200
Page 5 and 6: LETTER TO SHAREHOLDERS continued Pl
Page 7 and 8: Notice to Shareholders: • The Fun
Page 9 and 10: PORTFOLIO MANAGER COMMENTARY The fu
Page 11 and 12: FINANCIAL HIGHLIGHTS (For a share o
Page 13 and 14: SCHEDULE OF INVESTMENTS December 31
Page 15 and 16: SCHEDULE OF INVESTMENTS continued D
Page 23 and 24: STATEMENT OF ASSETS AND LIABILITIES
Page 25 and 26: STATEMENTS OF CHANGES IN NET ASSETS
Page 27 and 28: NOTES TO FINANCIAL STATEMENTS conti
Page 29 and 30: NOTES TO FINANCIAL STATEMENTS conti
Page 31: NOTES TO FINANCIAL STATEMENTS conti
Page 35 and 36: ADDITIONAL INFORMATION (unaudited)
Page 41 and 42: This page left intentionally blank
Page 43 and 44: TRUSTEES AND OFFICERS continued Ric

Evergreen - Prudential

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