24.2-951.2 - Referendum committee treasurer requirements and responsibilities.
§ 24.2-951.2. Referendum committee treasurer requirements andresponsibilities.
A. The treasurer shall keep detailed and accurate accounts of allcontributions turned over to and expenditures made by the referendumcommittee, the treasurer, or other officer on behalf of the referendumcommittee, or reported to the treasurer pursuant to this article. Suchaccount shall set forth the date of the contribution or expenditure, itsamount or value, the name and address of the person or committee making thecontribution or to whom the expenditure was made, and the object or purposeof the contribution or expenditure.
Such books and records may be destroyed or discarded at any time after (i)one year from the date of filing the final report required by § 24.2-951.9 or(ii) a period of three years, whichever first occurs, unless a court ofcompetent jurisdiction shall order their retention for a longer period.
B. All contributions and expenditures received or made by any referendumcommittee, or received or made on its behalf or in relation to the committeeby any person, except independent expenditures, shall be paid over ordelivered to the referendum committee's treasurer or shall be reported to thetreasurer in such detail and form as to allow him to comply fully with thisarticle. An independent expenditure shall be reported pursuant to §24.2-945.2 in lieu of being reported to the referendum committee's treasurer.
C. It shall be unlawful for any referendum committee, its treasurer, or anyperson receiving contributions or making expenditures on the committee'sbehalf or in relation to the committee, to fail to report every contributionand expenditure as required by this article.
D. No referendum committee treasurer or other individual shall pay anyexpense on behalf of the committee, directly or indirectly, except by a checkdrawn on such designated depository identifying the name of the referendumcommittee. However, a treasurer or other authorized officer of the referendumcommittee may be reimbursed, by a check drawn on the designated depository,for the payment of expenses (i) paid by him by check, cash, or credit ordebit card, (ii) made on behalf of the committee, and (iii) fully documentedby complete records of the expenditure, maintained as required by thischapter, and including receipts identifying the nature of the expenses andthe names and addresses of each person paid by the recipient of thereimbursement.
E. A treasurer of a referendum committee (a) may establish a petty cash fundto be utilized for the purpose of making expenditures or reimbursing verifiedcredit card expenditures of less than $200 if complete records of suchexpenditures are maintained as required by this chapter and (b) may transferfunds from the designated campaign depository to an account or instrument toearn interest on the funds so long as the transferred funds and earnedinterest are returned to the designated depository account, complete recordsare maintained, and all expenditures are made through the designateddepository account.
(2003, c. 257, § 24.2-910.1; 2005, c. 745; 2006, cc. 787, 892.)