Va. Code Ann. § 2.2-4604
This is the official text of Va. Code Ann. § 2.2-4604, part of Virginia’s Code of Virginia — the complete compiled statutory law of Virginia, organized into 60+ numbered titles by subject.
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Interfund pooling for investment purposes
Official statutory text
Local officials handling public funds may effect temporary transfers among separate funds for the purpose of pooling amounts available for investment. This pooling may be accomplished through interfund advances and other appropriate means consistent with recognized principles of governmental accounting provided that (i) moneys are available for the investment period required; (ii) the investment fund can repay the advance by the time needed; (iii) the transactions are fully and promptly recorded; and (iv) the interest earned is credited to the loaning or advancing jurisdiction.
1980, c. 538, § 2.1-234.6; 1981, c. 583; 2001, c. 844 .
1980, c. 538, § 2.1-234.6; 1981, c. 583; 2001, c. 844 .
Status: in_force · Read it on the official government site
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