                                 CODE OF VIRGINIA

FUNDING (§ 62.1-69.42)

A. The Commission shall annually adopt a budget, which shall include the
Commission&#8217;s estimated expenses. Funding for the Commission shall be
shared and apportioned between the Commonwealth of Virginia and the State of
North Carolina. The appropriation of public funds to the Commission shall be
provided through each state&#8217;s regular process for appropriating public
funds. The Virginia planning district commissions within the Basin shall bear a
proportion of Virginia&#8217;s share of the expenses, which may be in the form
of in-kind contributions.

B. The Commission shall designate a fiscal agent.

C. The accounts and records of the Commission showing the receipt and
disbursement of funds from whatever source derived shall be in such form as the
Virginia Auditor of Public Accounts and the North Carolina State Auditor
prescribe, provided that such accounts shall correspond as nearly as possible to
the accounts and records for such matters maintained by similar enterprises. The
accounts and records of the Commission shall be subject to an annual audit by
the Virginia Auditor of Public Accounts and the North Carolina State Auditor or
their legal representatives, and the costs of such audit services shall be borne
by the Commission. The results of the audits shall be delivered to the
appropriate legislative oversight committees in each state.

HISTORY: 2002, cc. 657, 843; 2003, c. 885.