Virginia Administrative Code
Title 12 - HEALTH
Agency 35 - DEPARTMENT OF BEHAVIORAL HEALTH AND DEVELOPMENTAL SERVICES
Chapter 46 - REGULATIONS FOR CHILDREN'S RESIDENTIAL FACILITIES
Part II - Administration
Section 12VAC35-46-190 - Fiscal accountability

Universal Citation: 2 VA Admin Code 35-46-190

Current through Register Vol. 41, No. 3, September 23, 2024

A. Facilities operated by corporations, unincorporated organizations or associations, individuals, or partnerships shall prepare at the end of each fiscal year:

1. An operating statement showing revenue and expenses for the fiscal year just ended;

2. A working budget showing projected revenue and expenses for the next fiscal year that gives evidence that there are sufficient funds to operate; and

3. A balance sheet showing assets and liabilities for the fiscal year just ended.

B. There shall be a system of financial recordkeeping that shows a separation of the facility's accounts from all other records.

C. The provider shall develop and implement written policies and procedures that address the day-to-day handling of facility funds to include:

1. Handling of deposits;

2. Writing of checks; and

3. Handling of petty cash.

Statutory Authority

§§ 37.2-408 and 37.2-203 of the Code of Virginia.

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