15.2-2108.9 - Enterprise funds for cable television services. - Virginia Statutes

§ 15.2-2108.9. Enterprise funds for cable television services.

A. A municipality that provides a cable television service under this articleshall:

1. Establish an enterprise fund to account for the municipality's operationsof a cable television service; and

2. Adopt separate operating and capital budgets for the municipality's cabletelevision services.

B. A municipality that provides a cable television service under this articleshall not:

1. Transfer any appropriation or other balance in any enterprise fundestablished by the municipality under this section to another enterprisefund; or

2. Transfer any appropriation or other balance in any other enterprise fundestablished by the municipality to any enterprise fund established by themunicipality under this section.

The restrictions on transfers described in this subsection do not apply totransfers made by a municipality between other enterprise funds establishedby the municipality.

C. A municipality authorized pursuant to subsection E of § 56-265.4:4 toprovide cable television service shall:

1. Establish a separate department within an enterprise fund to account forthe municipality's operations of a cable television service. This departmentmay share a common balance sheet with other telecommunications andcommunications services, but the income statements must be stated separately;and

2. Adopt separate operating and capital budgets for the municipality's cabletelevision services.

D. A municipality authorized pursuant to subsection E of § 56-265.4:4 toprovide cable television service shall not transfer funds from otherdepartments to the cable television department, but the municipality may makeinterdepartmental loans at market rates, upon such terms and conditions aswould prevail from a private lender.

(2003, c. 677.)