Georgia § 36-83-6 Interfund pooling for investment purposes

Georgia Statutes

§ 36-83-6 — Interfund pooling for investment purposes

Georgia § 36-83-6

Title36

This text of Georgia § 36-83-6 (Interfund pooling for investment purposes) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 36-83-6 (2026).

Text

(a)Local governments may effect and are encouraged to effect temporary transfers among separate funds, for the purpose of pooling amounts available for investment.

(b)This pooling may be accomplished through interfund advances and other appropriate means consistent with recognized principles of governmental accounting, if:

(1)Moneys are available for the investment period required;

(2)The investment fund can repay the advance by the time needed;

(3)The transactions are fully and promptly recorded;

(4)The interest earned is credited to the loaning or advancing fund; and (5) The transaction does not violate subsection (d) of Code Section 36-83-8 with respect to prior agreements, laws, or covenants which may restrict pooling.

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(a) Local governments may effect and are encouraged to effect temporary transfers among separate funds, for the purpose of pooling amounts available for investment. (b) This pooling may be accomplished through interfund advances and other appropriate means consistent with recognized principles of governmental accounting, if: (1) Moneys are available for the investment period required; (2) The investment fund can repay the advance by the time needed; (3) The transactions are fully and promptly recorded; (4) The interest earned is credited to the loaning or advancing fund; and (5) The transaction does not violate subsection (d) of Code Section 36-83-8 with respect to prior agreements, laws, or covenants which may restrict pooling.