Title WIC, California Welf. & Inst. Code

As used in this chapter: (a) “Financial and compliance audit” means a systematic review or appraisal to determine each of the following: (1) Whether the financial statements of an audited organization fairly present the financial position and the results of financial operations i…

(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 fund…