Financial Records and Managing Money
(1)A program provider must maintain a separate financial record for each child receiving services in a Host Home. Errors must be corrected with a single strike through and initialed by the person making the correction. The child’s financial record must include all of the following:
(a)Date, amount, and source of all income received on the child’s behalf.
(b)Room and board fee paid at the beginning of each month.
(c)Date, amount, and purpose of funds disbursed on the child’s behalf.
(d)Signature of the person making the entry.
(2)A child’s ISP team may address how the personal spending money of a child is managed. Records must be kept in accordance with each child’s financial plan, including documentation in the child’s financial record and inclusion of receipts for large purchases.
(3)If a child has a separate commercial bank account, records from the account must be maintained with the child’s financial record.
(4)A child’s personal funds must be maintained in a safe manner and separate from the funds of other members of the household.
(5)A program provider must reimburse a child any funds that are missing due to theft or mismanagement on the part of any in-residence caregiver or staff member of the Host Home or for any funds within the custody of the program provider or in-residence caregiver that are missing. Such reimbursement must be made within 10 business days of the verification that funds are missing.
(6)Misuse of funds may be cause for an administrative sanction, including conditions, civil penalty, suspension, revocation, or denial of renewal of a license.
Rule 411-348-0380 — Financial Records and Managing Money,