Administrative Code

Virginia Administrative Code
5/28/2024

Part III. Financial Management

6VAC15-45-170. Program functions and costs.

The contractor shall have a budget which links program functions and activities to the cost necessary for their support.

Statutory Authority

§ 53.1-266 of the Code of Virginia.

Historical Notes

Derived from VR230-01-006 § 3.1; Virginia Register Volume 12, Issue 4, eff. December 13, 1995.

6VAC15-45-180. Fiscal procedures.

Written procedures shall provide for the accounting and reporting of all fiscal related functions/activities and shall be in accordance with generally accepted accounting principles and fiscal management standards. Such written procedures shall include, at a minimum:

1. Appropriate levels of internal control.

2. Bonding.

3. Budgeting.

4. General accounting functions.

5. Procurement of goods and services.

6. Payroll.

7. Grant accounting, if applicable.

8. Inmate funds.

Statutory Authority

§ 53.1-266 of the Code of Virginia.

Historical Notes

Derived from VR230-01-006 § 3.2; Virginia Register Volume 12, Issue 4, eff. December 13, 1995.

6VAC15-45-190. Inmate funds.

Written procedure shall govern the handling and use of any inmate funds. Inmates may deposit personal funds in interest-bearing accounts, and that interest shall accrue to the inmates. Revenue-producing activities utilizing inmate labor or other inmate-generated revenue shall be reported to the Department of Corrections. Interest earned on funds held for inmates shall be used for the benefit of the inmates in accordance with Code of Virginia and Department of Corrections guidelines.

Statutory Authority

§ 53.1-266 of the Code of Virginia.

Historical Notes

Derived from VR230-01-006 § 3.3; Virginia Register Volume 12, Issue 4, eff. December 13, 1995.

6VAC15-45-200. Inmate compensation.

Compensation for inmate jobs/labor shall be in accordance with the Department of Corrections inmate pay schedule.

Statutory Authority

§ 53.1-266 of the Code of Virginia.

Historical Notes

Derived from VR230-01-006 § 3.4; Virginia Register Volume 12, Issue 4, eff. December 13, 1995.

6VAC15-45-210. Financial audit.

An annual independent financial audit shall be performed by a certified public accounting firm or a governmental agency. Such audit shall be at cost to the contractor.

Statutory Authority

§ 53.1-266 of the Code of Virginia.

Historical Notes

Derived from VR230-01-006 § 3.5; Virginia Register Volume 12, Issue 4, eff. December 13, 1995.

6VAC15-45-220. Financial documents.

The contractor shall prepare and distribute the following documents to the Department of Corrections upon request. (The level of detail shall be established by the Department of Corrections.)

1. Annual budget.

2. Income and expenditure statements.

3. Funding source financial reports.

4. Independent audit report.

5. Profit statements.

Statutory Authority

§ 53.1-266 of the Code of Virginia.

Historical Notes

Derived from VR230-01-006 § 3.6; Virginia Register Volume 12, Issue 4, eff. December 13, 1995.

6VAC15-45-230. Insurance coverage.

The contractor shall have insurance coverage of an amount and type as stipulated in the contract.

Statutory Authority

§ 53.1-266 of the Code of Virginia.

Historical Notes

Derived from VR230-01-006 § 3.7; Virginia Register Volume 12, Issue 4, eff. December 13, 1995.

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