15.2-1229 - Petty cash funds. - Virginia Statutes

§ 15.2-1229. Petty cash funds.

Whenever the governing body of any county determines that more efficientadministration would be promoted thereby, it may by resolution establish oneor more petty cash funds not exceeding $5,000 each for the payment of claimsarising from commitments made pursuant to law. Any person into whose handsany such fund is placed may pay such claims therefrom, without necessity ofprior receipt and audit of the claims by the governing body and withoutapproval and issuance of the warrant of the governing body or the countytreasurer. Such person shall render an account of the same and make asettlement thereof annually in form and manner prescribed by the Auditor ofPublic Accounts. Such person shall give bond with surety in the amount of$10,000; however, additional bond shall not be required of any person alreadybonded in the required amount.

(Code 1950, § 15-254; 1962, cc. 399, 623, § 15.1-548; 1977, c. 227; 1983, c.101; 1997, c. 587.)