Section 270. Budgetary deficits

A. All ASAPs requesting deficit funding shall complete a request for deficit funding and submit it to the executive director.

B. ASAPs must submit current budget and finance reports to the executive director with the request.

C. Budget reviews shall be conducted by the finance committee. The finance committee will meet regarding the ASAP request within 30 days of receipt of request to review information submitted and formulate a plan of action.

D. The ASAP director will meet with the finance committee to present the ASAP's situation and to answer questions. No ASAP director will be allowed to participate in deliberations of the finance committee regarding the ASAP he directs.

E. An on-site review of the ASAP shall be made by the finance committee, commission, or their designee.

F. Upon final review the finance committee shall determine the amount to be funded via commission funds. Funds up to $10,000 may be authorized by the finance committee. Larger amounts shall require a review by the full commission.

G. Not more than 10 working days after the review, the director and board chairperson of the ASAP shall be notified of the ASAP's eligibility. ASAPs that meet the requirements shall receive funding. Those not qualified shall receive recommended changes for eligibility.

H. For the remainder of the fiscal year, the ASAP director shall submit to the commission monthly reports of expenditures with comments on any significant change in the fiscal status of the ASAP.

Historical Notes

Derived from VR647-01-02 § 6.5, eff. September 13, 1989; amended, Volume 07, Issue 09, eff. February 28, 1991.

Statutory Authority

§§ 18.2-271.1 and 18.2-271.2 of the Code of Virginia.