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1998 Special Session I

Budget Bill - HB4001 (Introduced)

Department of the Treasury

Item 297

Item 297

First Year - FY1999Second Year - FY2000
Revenue Administration Services (73200)$6,243,167$6,216,395
Administrative Processing (73201)FY1999 $3,454,054FY2000 $3,426,514
Unclaimed Property Act Administration (73207)FY1999 $2,789,113FY2000 $2,789,881
Fund Sources: 
GeneralFY1999 $3,169,893FY2000 $3,142,573
SpecialFY1999 $204,161FY2000 $203,941
Trust and AgencyFY1999 $2,869,113FY2000 $2,869,881

Authority: Title 2.1, Chapter 14 and §§ 55-210.1 through 55-210.30, Code of Virginia.


A.1. The amounts for Revenue Administration Services include a sum sufficient nongeneral fund appropriation for personal services and other operating expenses to process checks issued by the Department of Social Services. The estimated cost, excluding actual postage costs is $96,000 the first year and $57,000 the second year.


B. The amounts for Revenue Administration Services include a sum sufficient nongeneral fund appropriation for administrative expenses to process the Virginia Employment Commission (VEC) and Virginia Retirement System (VRS) checks. The estimated cost for VEC is $37,000 the first year and $43,000 the second year, and for VRS is $20,000 the first year and $23,000 the second year.


C.1. The Department of the Treasury shall administer a centralized mail process for first-class, outbound mail from state agencies located in the Richmond metropolitan area. Nongeneral fund agencies shall reimburse the department for the proportional cost of all operating expenses and equipment costs associated with this operation. The following agencies shall participate:


Department of Motor Vehicles, Department of Social Services, Virginia Employment Commission, Virginia Retirement System, Department of Taxation, Department of Education, Department of Health Professions, Department of Agriculture and Consumer Services, Department of Transportation, and Department of General Services.


2. Additional agencies may participate as approved by the Department of the Treasury.


D.1. The amounts for Unclaimed Property Act Administration are for administrative and related support costs of the Uniform Disposition of Unclaimed Property Act, to be paid solely from revenues derived pursuant to the Act.


2. The amounts also include a sum sufficient nongeneral fund amount estimated at $560,000 the first year and $560,000 the second year to pay fees for compliance services and securities portfolio custody services for unclaimed property administration.


3. Any revenue derived from the sale of the Department of the Treasury's new unclaimed property system is hereby appropriated to the Department for use in unclaimed property customer service and system enhancements.