Administrative Code

Virginia Administrative Code
12/1/2021

Article 7. Bank Balance and Check Handling Procedures

22VAC30-60-410. Rules on cash management by Area Agencies on Aging.

Article 7
Bank Balance and Check Handling Procedures

A. An Area Agency on Aging shall institute procedures to minimize their cash balances of funding provided by the Virginia Department for Aging and Rehabilitative Services. Accordingly, Area Agencies on Aging shall tailor projections of cash requirements from the Virginia Department for Aging and Rehabilitative Services to coincide closely with the actual disbursement of such funds.

B. An Area Agency on Aging shall adopt procedures for minimizing the time elapsed between the receipt of federal and state funds and their disbursement.

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.

22VAC30-60-420. Fidelity bond requirements.

For all personnel handling cash or preparing or signing checks, the Area Agency on Aging shall obtain minimum insurance coverage of three-months' cash flow, including checks received, in blanket fidelity bond coverage.

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.

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