2015 Code of Virginia
Title 23 - Educational Institutions
§ 23-22. Accounts to be kept by boards
The board of every institution shall keep and preserve complete and accurate accounts of all sums of money received and disbursed in connection with the acquisition, erection, lease, operation and maintenance of any project and any such other existing facilities including without limitation a complete and accurate record of all revenues derived from any one or more of the sources mentioned in subdivisions (1), (2), (3) and (4) of subsection (d) of § 23-19 and all sums disbursed for the payment of the principal of or interest on or other debt service with respect to any bonds issued pursuant to the authority of this chapter and such annual portion of such revenues as shall not be required to discharge in due course any obligation, liability or debt of the institution incurred in connection with the project or such other existing facilities, including the creation of reserves for such purposes, shall be paid into the state treasury, as provided in § 23-21.
1933, p. 89; 1962, c. 373; 1964, c. 635; 1984, c. 734.
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