A. The accounts and records of the Authority showing the receipt and disbursement of funds from whatever source derived shall be in a form prescribed by the Auditor of Public Accounts. The Auditor of Public Accounts or his legally authorized representatives shall annually examine the accounts and books of the Authority. The Authority shall submit an annual report to the Governor and General Assembly on or before December 15 of each year. Such report shall contain the audited annual financial statements of the Authority for the year ending the previous June 30. The Authority shall also submit a six-year plan detailing its assumed revenue forecast, assumed operating costs, number of retail facilities, capital costs, including lease payments, major acquisitions of services and tangible or intangible property, any material changes to the policies and procedures issued by the Authority related to procurement or personnel, and any proposed marketing activities.
B. Notwithstanding any other provision of law, in exercising any power conferred under this subtitle, the Authority may implement and maintain independent payroll and nonpayroll disbursement systems. These systems and related procedures shall be subject to review and approval by the State Comptroller. Upon agreement with the State Comptroller, the Authority may report summary level detail on both payroll and nonpayroll transactions to the State Comptroller through the Department of Accounts' financial management system or its successor system. Such reports shall be made in accordance with policies, procedures, and directives as prescribed by the State Comptroller. A nonpayroll disbursement system shall include all disbursements and expenditures, other than payroll. Such disbursements and expenditures shall include travel reimbursements, revenue refunds, disbursements for vendor payments, petty cash, and interagency payments.
2021, Sp. Sess. I, cc. 550, 551.
Structure Code of Virginia
Title 4.1 - Alcoholic Beverage and Cannabis Control
Chapter 6 - General Provisions
§ 4.1-601. Virginia Cannabis Control Authority created; public purpose
§ 4.1-602. Virginia Cannabis Control Authority; composition
§ 4.1-604. Powers and duties of the Board
§ 4.1-605. Additional powers; mediation; alternative dispute resolution; confidentiality
§ 4.1-606. Regulations of the Board
§ 4.1-607. Board membership; terms; compensation
§ 4.1-609. Background investigations of Board members and Chief Executive Officer
§ 4.1-610. Financial interests of Board, employees, and family members prohibited
§ 4.1-611. Seed-to-sale tracking system
§ 4.1-612. Moneys of Authority
§ 4.1-613. Forms of accounts and records; audit; annual report
§ 4.1-614. Disposition of moneys collected by the Board
§ 4.1-615. Leases and purchases of property by the Board
§ 4.1-616. Exemptions from taxes or assessments
§ 4.1-618. Reversion to the Commonwealth
§ 4.1-620. Reports and accounting systems of Board; auditing books and records
§ 4.1-621. Certain information not to be made public
§ 4.1-622. Criminal history records check required on certain employees; reimbursement of costs
§ 4.1-623. Employees of the Authority
§ 4.1-624. Police power of members, agents, and employees of Board
§ 4.1-625. Liability of Board members; suits by and against Board
§ 4.1-626. Counsel for members, agents, and employees of Board
§ 4.1-627. Hearings; representation by counsel