Texas Administrative Code
Title 26 - HEALTH AND HUMAN SERVICES
Part 1 - HEALTH AND HUMAN SERVICES COMMISSION
Chapter 749 - MINIMUM STANDARDS FOR CHILD-PLACING AGENCIES
Subchapter C - ORGANIZATION AND ADMINISTRATION
Division 3 - GENERAL FISCAL REQUIREMENTS
Section 749.161 - What are my fiscal requirements?
Universal Citation: 26 TX Admin Code § 749.161
Current through Reg. 50, No. 13; March 28, 2025
(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.
Disclaimer: These regulations may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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