8 Va. Admin. Code § 40-132-20
Current through Register Vol. 40, No. 22, June 17, 2024
An institution shall establish and maintain financial records that accurately reflect all program transactions as they occur. The institution shall establish and maintain general ledger control accounts and related subsidiary accounts that identify each program transaction and separate those transactions from all other institutional financial activity. Funds appropriated for undergraduate awards may not be used for graduate awards, and funds appropriated for graduate awards may not be used for undergraduate awards.
8 Va. Admin. Code § 40-132-20
Statutory Authority: § 23.1-636 of the Code of Virginia.