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§ 17817. Child Development Fund; Interest Bearing Accounts.

5 CA ADC § 17817Barclays Official California Code of RegulationsEffective: July 1, 2022

Barclays California Code of Regulations
Title 5. Education
Division 1. California Department of Education
Chapter 18.5. California State Preschool Program
Subchapter 10. General Fiscal Requirements
Article 5. Accounting and Reporting Requirements
Effective: July 1, 2022
5 CCR § 17817
§ 17817. Child Development Fund; Interest Bearing Accounts.
Currentness
(a) All contractors shall establish a fund to be known as the “Child Development Fund” as specified in Education Code section 8271, except that private contractors shall establish the fund in a federally insured banking institution located in California.
(b) Contractors with multiple fund sources shall establish separate program cost accounts for each source of funds.
(c) If a contractor places advanced contract funds in an interest-bearing account, the interest-bearing account shall be a separate account within the Child Development Fund.
(d) Interest earned shall be retained by the contractor if it is expended on reimbursable costs.

Credits

Note: Authority cited: Sections 8231 and 8247, Education Code. Reference: Sections 8231 and 8271, Education Code.
History
1. New section filed 7-1-2022; operative 7-1-2022 pursuant to Government Code section 11343.4(b)(3) (Register 2022, No. 26).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 5, § 17817, 5 CA ADC § 17817
End of Document