Virginia Code 22.1-289.08:1: Child Care Subsidy Program Overpayment Fund
There is hereby created in the state treasury a special nonreverting fund to be known as the Child Care Subsidy Program Overpayment Fund, referred to in this section as “the Fund.” The Fund shall be established on the books of the Comptroller. All overpayment moneys collected or recovered by the Department or any state or local agency contracted to administer the Child Care Subsidy Program, net of any refunds due to the federal government, shall be paid into the state treasury and credited to the Fund, except as prohibited by federal law or regulation. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purpose of covering the cost of providing training and supports to early childhood care and education entities. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Superintendent.
Terms Used In Virginia Code 22.1-289.08:1
- Department: means the Department of Education. See Virginia Code 22.1-1
- 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, 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
- Superintendent: means the Superintendent of Public Instruction. See Virginia Code 22.1-1
2022, c. 524.