SECTION 748.161. What are my fiscal requirements?

(a) You must establish and maintain your operation on a sound fiscal basis, including:

(1) Paying your employees timely; and

(2) 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 accounting for a child's money separately from the funds of your operation. 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.

Source Note: The provisions of this §748.161 adopted to be effective January 1, 2017, 41 TexReg 10393; transferred effective March 9, 2018, as published in the Texas Register February 16, 2018, 43 TexReg 909