                                 CODE OF VIRGINIA

DISPOSITION OF MONEYS COLLECTED BY BOARD; CREATION OF ENTERPRISE FUND; RESERVE
FUND (§ 4.1-116)

A. All moneys collected by the Board shall be paid directly and promptly into
the state treasury, or shall be deposited to the credit of the State Treasurer
in a state depository, without any deductions on account of salaries, fees,
costs, charges, expenses, refunds or claims of any description whatever, as
required by &#xA7; 2.2-1802.
			All moneys so paid into the state treasury, less the net profits determined
pursuant to subsection C, shall be set aside as and constitute an Enterprise
Fund, subject to appropriation, for the payment of (i) the salaries and
remuneration of the members, agents, and employees of the Board and (ii) all
costs and expenses incurred in establishing and maintaining government stores
and in the administration of the provisions of this subtitle, including the
purchasing, building, leasing and operation of distilleries and the manufacture
of alcoholic beverages.

B. The net profits derived under the provisions of this subtitle shall be
transferred by the Comptroller to the general fund of the state treasury
quarterly, within fifty days after the close of each quarter or as otherwise
provided in the appropriation act. As allowed by the Governor, the Board may
deduct from the net profits quarterly a sum for the creation of a reserve fund
not exceeding the sum of $2.5 million in connection with the administration of
this subtitle and to provide for the depreciation on the buildings, plants and
equipment owned, held or operated by the Board.

C. The term &#8220;net profits&#8221; as used in this section means the total of
all moneys collected by the Board less all costs, expenses and charges
authorized by this section.

HISTORY: Code 1950, §§ 4-22, 4-23; 1960, c. 104; 1962, c. 385; 1964, c. 215;
1966, c. 431; 1968, c. 623; 1970, c. 727; 1972, cc. 138, 849; 1973, c. 349;
1974, c. 460; 1981, c. 514; 1982, c. 540; 1983, c. 427; 1984, c. 105; 1985, c.
222; 1993, c. 866.