                                 CODE OF VIRGINIA

ANNUAL BUDGET AND ALLOCATION OF EXPENSES (§ 33.2-3706)

A. The Authority shall adopt an annual budget and develop a funding plan to be
supported by the revenues allocated under subdivision D 1 of &#xA7; 33.2-3701
and shall provide for such development and adoption in its bylaws. The funding
plan shall provide for the expenditure of funds for transportation purposes over
a four-to-six-year period and shall align with the Statewide Transportation Plan
established pursuant to &#xA7; 33.2-353, the long-range transportation plan of
Planning District 15, or the long-range transportation plans of participating
localities as much as possible. The Authority shall solicit public comment on
its budget and funding plan by posting a summary of such budget and funding plan
on its website and holding a public hearing. Such public hearing shall be
advertised on the Authority&#8217;s website and in a newspaper of general
circulation in Planning District 15.

B. The administrative and operating expenses of the Authority shall be provided
in an annual budget adopted by the Authority and to the extent funds for such
expenses are not provided from other sources shall be paid from the Fund. Such
budget shall be limited solely to the administrative and operating expenses of
the Authority and shall not include any funds for construction or acquisition of
transportation facilities or the maintenance or performance of any
transportation service.

C. Members may be reimbursed for all reasonable and necessary expenses provided
in &#xA7;&#xA7; 2.2-2813 and 2.2-2825, if approved by the Authority. Funding for
the costs of compensation and expenses of the members shall be provided by the
Authority.

HISTORY: 2020, c. 1235.