Notwithstanding any contrary provisions of this Code which provide for state reimbursement of certain costs incurred by local correctional facilities, the time and manner of such payments shall be as hereinafter prescribed. Each facility’s apportionment pursuant to § 53.1-84 shall be paid by the Compensation Board to the responsible local governing body or fiscal agent of such facility in quarterly installments beginning July, 1983. The amount of the quarterly installment for each facility will be the sum of the following:
1. The number of state prisoner days registered by the facility in the preceding quarter, pursuant to § 53.1-121, times the specified rate per prisoner day;
2. The number of prisoner days registered for convicted state felons by the facility in the preceding quarter times the specified rate per felon day, pursuant to § 53.1-20.1; and
3. One-fourth of the annual cost for salaries and fringe benefits for medical and treatment personnel approved by the Compensation Board pursuant to § 15.2-1636.7. Funds held in the emergency reserve shall be distributed on the written authorization of the Compensation Board. In the event of emergencies, the Compensation Board may reallocate any portion of the reserve among individual facilities. Any balance remaining in the reserve at the close of the budgetary period shall revert to the general fund of the state treasury.