Article 6. General Program Income
22VAC30-60-350. Acceptable methods for general program income.
Article 6
General Program Income
An Area Agency on Aging is authorized to observe the additional-costs alternative. Under this alternative, all general program income earned by the Area Agency on Aging shall be retained by the area agency and added to funds committed to the project by the Virginia Department for Aging and Rehabilitative Services and shall be used to further eligible program objectives.
Statutory Authority
§ 51.5-131 of the Code of Virginia; 42 USC § 3001 et seq.
Historical Notes
Derived from Virginia Register Volume 29, Issue 2, eff. October 24, 2012.
22VAC30-60-360. Treatment of interest earned on advances.
Interest earned on federal funds passed through the Virginia Department for Aging and Rehabilitative Services is to be considered general program income. Such funds may be used as cash match in the supportive services and nutrition programs, to expand any approved program, or to further any activity or benefit to the elderly as approved by the governing board of the Area Agency on Aging. Such funds may not be used to meet the costs associated with the preparation and administration of the area plan.
Statutory Authority
§ 51.5-131 of the Code of Virginia; 42 USC § 3001 et seq.
Historical Notes
Derived from Virginia Register Volume 29, Issue 2, eff. October 24, 2012.
22VAC30-60-370. Allowable investment and custody policies..
The investment of available federal or state funds shall be directed by two principles: (i) all funds received must be protected from unreasonable loss or diminished value, and (ii) investments must be selected to earn a reasonable return on funds not expected to be disbursed immediately. In furtherance of such principles, the following investment mechanisms are authorized:
1. Any interest bearing checking account that is fully insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation;
2. NOW accounts.
Statutory Authority
§ 51.5-131 of the Code of Virginia; 42 USC § 3001 et seq.
Historical Notes
Derived from Virginia Register Volume 29, Issue 2, eff. October 24, 2012.
22VAC30-60-380. Timing of spending general program income.
In general, there is no time restriction as to when general program income under the additional-costs alternative must be spent. To avoid any excessive accumulation of funds and the abuse of this alternative, the Virginia Department for Aging and Rehabilitative Services has determined that general program income earned under the additional-costs alternative shall be spent in the year in which it is earned. If it is earned near the end of the agency's fiscal year and the agency is unable to spend this income by then, it shall at least be spent before the expenditure of any federal or state funds in the beginning of the next fiscal year.
Statutory Authority
§ 51.5-131 of the Code of Virginia; 42 USC § 3001 et seq.
Historical Notes
Derived from Virginia Register Volume 29, Issue 2, eff. October 24, 2012.
22VAC30-60-390. Special internal control safeguards over participant contributions.
Because of the cash nature of participant contributions, agencies shall exert special safeguards over such funds. At a minimum, agencies receiving participant contributions shall employ one or more of the following precautions: (i) have two persons count all cash contributions; (ii) deposit the amount intact; (iii) make deposits on a daily basis; (iv) maintain all cash contributions in a secure place until deposit; (v) regularly justify cash counts against deposit receipts received from the bank; (vi) for home-delivered meals, maintain lock boxes in the vans and encourage mailed contributions; (vii) provide a clearly stated policy concerning provision of client receipts, in duplicate, for each cash transaction; and (viii) rotate staff periodically, if staffing permits.
Statutory Authority
§ 51.5-131 of the Code of Virginia; 42 USC § 3001 et seq.
Historical Notes
Derived from Virginia Register Volume 29, Issue 2, eff. October 24, 2012.
22VAC30-60-400. Area Agency on Aging written policies on program income.
An Area Agency on Aging shall formally adopt written policies and procedures, approved by the governing board, regarding collection, disposition, and accounting for (i) program income, including participant contributions, and (ii) interest and other investment income earned on advances of federal and state funds.
Statutory Authority
§ 51.5-131 of the Code of Virginia; 42 USC § 3001 et seq.
Historical Notes
Derived from Virginia Register Volume 29, Issue 2, eff. October 24, 2012.