                                 CODE OF VIRGINIA

INAUGURAL COMMITTEE TREASURER REQUIREMENTS AND RESPONSIBILITIES (§ 24.2-952.2)

A. The treasurer shall keep detailed and accurate accounts of all contributions
turned over to and expenditures made by the committee, the treasurer, or other
officer on behalf of the inaugural committee, or reported to the treasurer
pursuant to this article. Such account shall set forth the date of the
contribution or expenditure, its amount or value, the name and address of the
person or committee making the contribution or to whom the expenditure was made,
and the object or purpose of the contribution or expenditure.
			Such books and records may be destroyed or discarded at any time after (i)
one year from the date of filing the final report required by &#xA7; 24.2-952.7
or (ii) a period of three years, whichever first occurs, unless a court of
competent jurisdiction shall order their retention for a longer period.

B. All contributions and expenditures received or made by any inaugural
committee, or received or made on its behalf or in relation to the committee by
any person, except independent expenditures, shall be paid over or delivered to
the inaugural committee&#8217;s treasurer or shall be reported to the treasurer
in such detail and form as to allow him to comply fully with this article. An
independent expenditure shall be reported pursuant to &#xA7; 24.2-945.2 in lieu
of being reported to the inaugural committee&#8217;s treasurer.

C. It shall be unlawful for any inaugural committee, its treasurer, or any
person receiving contributions or making expenditures on the committee&#8217;s
behalf or in relation to the committee, to fail to report every contribution and
expenditure as required by this article.

D. No inaugural committee treasurer or other individual shall pay any expense on
behalf of the committee, directly or indirectly, except by a check or electronic
debit drawn on such designated depository identifying the name of the inaugural
committee. However, a treasurer or other authorized officer of the inaugural
committee may be reimbursed, by a check or electronic debit drawn on the
designated depository, for the payment of expenses (i) paid by him by cash,
check or electronic debit, or credit card, (ii) made on behalf of the committee,
and (iii) fully documented by complete records of the expenditure, maintained as
required by this article, and including receipts identifying the nature of the
expenses and the names and addresses of each person paid by the recipient of the
reimbursement.

E. A treasurer of an inaugural committee (i) may establish a petty cash fund to
be utilized for the purpose of making expenditures or reimbursing verified
credit card expenditures of less than $200 if complete records of such
expenditures are maintained as required by this chapter and (ii) may transfer
funds from the designated campaign depository to an account or instrument to
earn interest on the funds so long as the transferred funds and earned interest
are returned to the designated depository account, complete records are
maintained, and all expenditures are made through the designated depository
account.

HISTORY: 1991, cc. 474, 709, § 24.1-254.3; 1993, c. 641, § 24.2-913; 2006, cc.
787, 892; 2020, c. 349.