                                 CODE OF VIRGINIA

INTERFUND POOLING FOR INVESTMENT PURPOSES (§ 2.2-4604)

Local officials handling public funds may effect temporary transfers among
separate funds for the purpose of pooling amounts available for investment. This
pooling may be accomplished through interfund advances and other appropriate
means consistent with recognized principles of governmental accounting provided
that (i) moneys are available for the investment period required; (ii) the
investment fund can repay the advance by the time needed; (iii) the transactions
are fully and promptly recorded; and (iv) the interest earned is credited to the
loaning or advancing jurisdiction.

HISTORY: 1980, c. 538, § 2.1-234.6; 1981, c. 583; 2001, c. 844.