| (a) You must establish and maintain your agency on
a sound fiscal basis, including:
(1) Paying your employees timely;
(2) Paying foster parents per your agreement with them;
and
(3) Making sure the needs of children in care are being
met.
(b) You must maintain complete financial records that
comply with Generally Accepted Accounting Principles, including:
(1) Accounting for a child's money separately from
the funds of your agency and the foster home. You may not use a child's
personal earnings, allowances, or gifts to pay for the child's room
and board, unless such use is a part of the child's service plan and
the child's parent approves it in writing. You must give or send
the child's money to the child, parent, or next placement within 30
days of the child's discharge; and
(2) Making one of the following available for our review:
(A) An annual review of your financial records conducted
by an independent Certified Public Accountant in accordance with the
Generally Accepted Accounting Principles; or
(B) Proof of reserve funds equal to at least three
months of operating expenses for your agency.
|
| Source Note: The provisions of this §749.161 adopted to be effective January 1, 2017, 41 TexReg 9944; transferred effective March 9, 2018, as published in the Texas Register February 16, 2018, 43 TexReg 909 |
