California Welfare and Institutions Code

§ 10441

WIC § 10441 Effective Jun 30, 2022Div. 9 · Part 1.8 · Ch. 27

Statute text

(a)Child development contractors are encouraged to develop and maintain a reserve within the child development fund, derived from earned but unexpended funds. Child development contractors may retain all earned funds. For purposes of this section, “earned funds” means those funds for which the required number of eligible service units have been provided.

(b)(1) Earned funds shall not be expended for activities proscribed by Section 10398. Earned but unexpended funds shall remain in the contractor’s reserve account within the child development fund and shall be expended only by direct service child development programs that are funded under contract with the department.

(2)A contractor may retain a reserve fund balance, separate from the reserve fund retained pursuant to subdivision (c) or (d), equal to 15 percent of the sum of the maximum reimbursable amounts of all contracts to which the contractor is a party, or two thousand dollars ($2,000), whichever is greater. This subparagraph applies to direct service child development contracting agencies that are funded under contract with the department.

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Legislative history

Amended by Stats. 2022, Ch. 62, Sec. 26. (AB 210) Effective June 30, 2022.