Virginia Code 66-33: Unexpended funds
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In any case in which any portion of state funds obtained through a grant authorized pursuant to this chapter remains unencumbered or unexpended at the end of the fiscal year, such funds shall be returned by the locality to the State Treasurer, who shall deposit such moneys in the state general fund.
Terms Used In Virginia Code 66-33
- 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.
- Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
Code 1950, § 53-341; 1979, c. 698; 1982, c. 636, § 53.1-258; 1989, c. 733.