{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/62.1-139.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/62.1-139.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/62.1-139.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/62.1-139.html"}],"law_id":68654,"edition_id":1,"section_id":68654,"structure_id":13423,"section_number":"62.1-139","catch_line":"Forms of accounts and records; annual report","history":"Code 1950, \u00a7 62-106.11; 1954, c. 667; 1968, c. 659; 1984, c. 734; 1985, c. 146; 2004, c. 650; 2012, cc. 846, 849; 2013, cc. 762, 794.","full_text":"A\n\nThe accounts and records of the Authority showing the receipt and disbursement of funds from whatever source derived shall be in a form prescribed by governmental generally accepted accounting principles. Such accounts shall correspond as nearly as possible to the accounts and records for such matters maintained by enterprises.B\n\nThe accounts of the Authority shall be audited annually by a certified public accounting firm selected by the Auditor of Public Accounts with the assistance of the Authority through a process of competitive negotiation. The cost of such audit and review shall be borne by the Authority.C\n\nThe General Assembly may request the Auditor of Public Accounts to conduct audits at any time.D\n\nThe Authority shall submit an annual report to the Governor and General Assembly on or before November 1 of each year. Such report shall contain the audited annual financial statements of the Authority for the year ending the preceding June 30.E\n\nThe Authority shall submit a detailed annual operating plan and budget to the Secretary of Transportation and the Director of the Department of Planning and Budget by November 1 of each year. Notwithstanding any other provision of this chapter, the form and content of the operating plan and budget shall be determined by the Director of the Department of Planning and Budget and shall include information on salaries, expenditures, indebtedness, and other information as determined by the Director of the Department of Planning and Budget.F\n\nThe Board of Commissioners, the General Assembly, or the Governor may at any time request that the Office of the Inspector General, created pursuant to § 2.2-308, review any area of the Authority’s finances or operations.","order_by":null,"text":{"0":{"id":248514,"text":"The accounts and records of the Authority showing the receipt and disbursement of funds from whatever source derived shall be in a form prescribed by governmental generally accepted accounting principles. Such accounts shall correspond as nearly as possible to the accounts and records for such matters maintained by enterprises.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":248515,"text":"The accounts of the Authority shall be audited annually by a certified public accounting firm selected by the Auditor of Public Accounts with the assistance of the Authority through a process of competitive negotiation. The cost of such audit and review shall be borne by the Authority.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":248516,"text":"The General Assembly may request the Auditor of Public Accounts to conduct audits at any time.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":248517,"text":"The Authority shall submit an annual report to the Governor and General Assembly on or before November 1 of each year. Such report shall contain the audited annual financial statements of the Authority for the year ending the preceding June 30.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":248518,"text":"The Authority shall submit a detailed annual operating plan and budget to the Secretary of Transportation and the Director of the Department of Planning and Budget by November 1 of each year. Notwithstanding any other provision of this chapter, the form and content of the operating plan and budget shall be determined by the Director of the Department of Planning and Budget and shall include information on salaries, expenditures, indebtedness, and other information as determined by the Director of the Department of Planning and Budget.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":248519,"text":"The Board of Commissioners, the General Assembly, or the Governor may at any time request that the Office of the Inspector General, created pursuant to § 2.2-308, review any area of the Authority’s finances or operations.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":13423,"edition_id":1,"name":"Virginia Port Authority","identifier":"10","label":"chapter","depth":2,"order_by":1,"parent_id":12909,"metadata":{},"date_created":"2026-06-26 03:44:52","date_modified":"2026-06-26 03:44:52","permalink":{"id":268231,"object_type":"structure","relational_id":13423,"identifier":"10","token":"62.1\/10","url":"\/62.1\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12909,"edition_id":1,"name":"Waters of the State, Ports and Harbors","identifier":"62.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:00","date_modified":"2026-06-26 03:44:00","permalink":{"id":268199,"object_type":"structure","relational_id":12909,"identifier":"62.1","token":"62.1","url":"\/62.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":63656,"structure_id":13423,"section_number":"62.1-128","catch_line":"Authority created","url":"\/62.1-128\/","token":"62.1\/10\/62.1-128","metadata":false},{"id":65543,"structure_id":13423,"section_number":"62.1-129","catch_line":"Board of Commissioners; members and officers; Executive Director; agents and employees","url":"\/62.1-129\/","token":"62.1\/10\/62.1-129","metadata":false},{"id":59839,"structure_id":13423,"section_number":"62.1-129.1","catch_line":"Employees; employment; personnel rules; health insurance; retirement plans","url":"\/62.1-129.1\/","token":"62.1\/10\/62.1-129.1","metadata":false},{"id":79408,"structure_id":13423,"section_number":"62.1-129.2","catch_line":"Trust for postemployment benefits authorized; administration","url":"\/62.1-129.2\/","token":"62.1\/10\/62.1-129.2","metadata":false},{"id":83097,"structure_id":13423,"section_number":"62.1-130","catch_line":"Powers and duties of Executive Director","url":"\/62.1-130\/","token":"62.1\/10\/62.1-130","metadata":false},{"id":59763,"structure_id":13423,"section_number":"62.1-131","catch_line":"Office and branch offices; title to property","url":"\/62.1-131\/","token":"62.1\/10\/62.1-131","metadata":false},{"id":66040,"structure_id":13423,"section_number":"62.1-132","catch_line":"Local authorities subordinate to Authority","url":"\/62.1-132\/","token":"62.1\/10\/62.1-132","metadata":false},{"id":72875,"structure_id":13423,"section_number":"62.1-132.1","catch_line":"General powers","url":"\/62.1-132.1\/","token":"62.1\/10\/62.1-132.1","metadata":false},{"id":84095,"structure_id":13423,"section_number":"62.1-132.10","catch_line":"Publications of Authority","url":"\/62.1-132.10\/","token":"62.1\/10\/62.1-132.10","metadata":false},{"id":66130,"structure_id":13423,"section_number":"62.1-132.11","catch_line":"Police powers; 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bond resolution; form and requisites of bonds; sale and disposition of proceeds; temporary bonds","url":"\/62.1-140\/","token":"62.1\/10\/62.1-140","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/62.1-139\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 7 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1954, chapter 667; in 1968, chapter 659; in 1984, chapter 734; in 1985, chapter 146; in 2004, chapter 650<\/a>; in 2012, chapters 846<\/a> and 849<\/a>; in 2013, chapters 762<\/a> and 794<\/a>.<\/p>","references":false,"refers_to":[{"id":56496,"section_number":"2.2-308","catch_line":"Office created; appointment of State Inspector General","order_by":null,"url":"\/2.2-308\/"}],"permalink":{"id":268413,"object_type":"law","relational_id":68654,"identifier":"62.1-139","token":"62.1\/10\/62.1-139","url":"\/62.1-139\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/62.1-139\/","token":"62.1\/10\/62.1-139","dublin_core":{"Title":"Forms of accounts and records; annual report","Type":"Text","Format":"text\/html","Identifier":"\u00a7 62.1-139","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The accounts and records of the Authority showing the receipt and disbursement of funds from whatever source derived shall be in a form prescribed by governmental generally accepted accounting principles. Such accounts shall correspond as nearly as possible to the accounts and records for such matters maintained by enterprises. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The accounts of the Authority shall be audited annually by a certified public accounting firm selected by the Auditor of Public Accounts with the assistance of the Authority through a process of competitive negotiation. The cost of such audit and review shall be borne by the Authority. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The General Assembly may request the Auditor of Public Accounts to conduct audits at any time. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Authority shall submit an annual report to the Governor and General Assembly on or before November 1 of each year. Such report shall contain the audited annual financial statements of the Authority for the year ending the preceding June 30. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> The Authority shall submit a detailed annual operating plan and budget to the Secretary of Transportation and the Director of the Department of Planning and Budget by November 1 of each year. Notwithstanding any other provision of this chapter, the form and content of the operating plan and budget shall be determined by the Director of the Department of Planning and Budget and shall include information on salaries, expenditures, indebtedness, and other information as determined by the Director of the Department of Planning and Budget. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> The Board of Commissioners, the General Assembly, or the Governor may at any time request that the Office of the Inspector General, created pursuant to § 2.2-308<\/a>, review any area of the Authority’s finances or operations. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nFORMS OF ACCOUNTS AND RECORDS; ANNUAL REPORT (\u00a7 62.1-139)\n\nA. The accounts and records of the Authority showing the receipt and\ndisbursement of funds from whatever source derived shall be in a form prescribed\nby governmental generally accepted accounting principles. Such accounts shall\ncorrespond as nearly as possible to the accounts and records for such matters\nmaintained by enterprises.\n\nB. The accounts of the Authority shall be audited annually by a certified public\naccounting firm selected by the Auditor of Public Accounts with the assistance\nof the Authority through a process of competitive negotiation. The cost of such\naudit and review shall be borne by the Authority.\n\nC. The General Assembly may request the Auditor of Public Accounts to conduct\naudits at any time.\n\nD. The Authority shall submit an annual report to the Governor and General\nAssembly on or before November 1 of each year. Such report shall contain the\naudited annual financial statements of the Authority for the year ending the\npreceding June 30.\n\nE. The Authority shall submit a detailed annual operating plan and budget to the\nSecretary of Transportation and the Director of the Department of Planning and\nBudget by November 1 of each year. Notwithstanding any other provision of this\nchapter, the form and content of the operating plan and budget shall be\ndetermined by the Director of the Department of Planning and Budget and shall\ninclude information on salaries, expenditures, indebtedness, and other\ninformation as determined by the Director of the Department of Planning and\nBudget.\n\nF. The Board of Commissioners, the General Assembly, or the Governor may at any\ntime request that the Office of the Inspector General, created pursuant to\n§ 2.2-308, review any area of the Authority’s finances or operations.\n\nHISTORY: Code 1950, \u00a7 62-106.11; 1954, c. 667; 1968, c. 659; 1984, c. 734;\n1985, c. 146; 2004, c. 650; 2012, cc. 846, 849; 2013, cc. 762, 794.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}