West Virginia Code 18-30-8 – The College and Jumpstart Savings Administrative Account
(a) There is hereby continued a separate special revenue account within the State Treasury titled the “college prepaid tuition and savings program administrating account”, which shall hereafter be known as the College and Jumpstart Savings Administrative Account. The board shall administer and make expenditures from the account for the purposes of implementing, operating, and maintaining the trust funds, the program created by this article, and the program created by § 18-30A-1 et seq. of this code.
Terms Used In West Virginia Code 18-30-8
- board: means a county board of education. See West Virginia Code 18-1-1
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(b) The administrative account shall receive all fees, charges, and penalties collected by the board. Expenditures from the fund are authorized from collections. Any balance, including accrued interest and other returns, remaining in the fund at the end of each fiscal year shall not revert to the General Revenue Fund but shall remain in the fund to be expended as authorized by this section.