1998 Session

Budget Amendments - SB30 (Committee Approved)

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Contract Prisoners Special Fund (language only)

Item 4-2.01 #2s

Item 4-2.01 #2s

3: Miscellaneous & Part 4: General Provisions)

Page 387, following line 31, insert:
1. The State Comptroller shall establish on the Commonwealth Accounting and Reporting System a Contract Prisoners Special Revenue Fund to reflect the activities of the contract between the Commonwealth of Virginia and other governmental entities for the housing of prisoners.
2. The Department of Corrections shall have the responsibility to record and maintain all appropriate accounting records and financial reporting of the Contract Prisoners Special Revenue Fund.  The Department shall maintain this fund's records at all times in accordance with generally accepted accounting principles.
3. The State Comptroller and Auditor of Public Accounts shall review the Department's accounting and financial reporting procedures for this fund to determine that the Department can meet the requirements of this section.
4. The Department of Corrections shall transfer on a monthly basis the net revenues to the General Fund of the Commonwealth using generally accepted accounting principles as the basis for such transfers.
5. The Secretary of Finance shall provide the Department an Anticipation Loan totaling $6,459,900 in accordance with §4-3.02 b.  The Secretary of Finance shall include repayment terms which anticipate repayment from the final billing to the other governmental entities for the housing of prisoners.
6. The fund shall not retain any amounts which it will not finally pay directly.".

(This amendment establishes a Contract Prisoners Special Revenue Fund to record the financial transactions associated with a contract for the Department of Corrections to house inmates from other governmental entities in the Sussex II Correctional Center and other state correctional facilities. Companion amendments to Items 472 and 489 provide for the appropriation of these special revenues for the operation of these state facilities by the Department of Corrections and the Department of Correctional Education. A companion amendment to §3-1.01 provides for the transfer of net revenues, after expenses, to the general fund.)