West Virginia Code 5A-3-16 – Special fund; purposes; how composed
There is hereby created a special revenue fund to be administered by the director to facilitate the following functions of the director:
Terms Used In West Virginia Code 5A-3-16
- 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
(1) Purchase commodities in volume and maintain stocks to supply the needs of state spending units; and
(2) Performance of mimeographing, photostating, microfilming, multilithing, multigraphing and other work needed by spending units as provided by section twenty-seven of this article.
The amount of the fund may be fixed and changed by the Governor upon the recommendation of the secretary. If at the end of each fiscal year the cash balance plus value of commodity inventories on hand exceeds the amount so fixed, the excess in cash shall be transferred by the Governor upon recommendation of the secretary to the General Revenue Fund and become a part of the general revenue of the state. The fund shall be composed of the following:
(1) The cash balance and inventories of the fund heretofore established by this section; and
(2) Charges made by the director for commodities sold and services rendered to the state spending units as herein described: Provided, That charges shall not exceed total cost to the fund, which total cost shall include storage, supplies, equipment and salaries and wages of employees necessary to supply commodities and services in addition to purchase price of commodities.