(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