Code of Virginia (Last Updated:July 28, 2020) |
TITLE 15.2. Counties, Cities and Towns |
SUBTITLE II. Powers of Local Government |
CHAPTER 25. Budgets, Audits and Reports |
SECTION 15.2-2501. Establishment of funds for accounting and budgeting; separate depository and investment accounts not required |
SECTION 15.2-2501. Establishment of funds for accounting and budgeting; separate depository and investment accounts not required
Every locality and school division shall establish such funds as may be required by law and as may otherwise be deemed necessary to provide appropriate accounting and budgetary control over the activities and affairs of the locality or school division. This section shall not be construed to require separate depository or investment accounts for the assets of each fund. 1997, c. 587. |