Item 53 | First Year - FY2005 | Second Year - FY2006 |
|---|
|
|
| Collection Services (74000) | $1,516,385 | $1,526,605 |
| Fund Sources: | | |
| Special | FY2005 $1,516,385 | FY2006 $1,526,605 |
Authority: Title 2.2, Chapter 5, Code of Virginia.
A. The Division of Debt Collection is authorized to retain as special revenue up to 30 percent of receivables collected on behalf of state agencies. The Division of Debt Collection is authorized to contract with private collection agents for the collection of debts amounting to less than $1,000.
B. The Division shall deposit $3,454,000 by June 30, 2005, and $3,444,000 by June 30, 2006, as revenue to the general fund, from receivables collected on behalf of state agencies.