California Education Code

§ 8336

EDC § 8336 Effective Jul 23, 2021Div. 1 · Title 1 · Part 6 · Ch. 2 · Art. 15

Statute text

(a)All contractors are encouraged to develop and maintain a reserve within the child development fund, derived from earned but unexpended funds. Contractors may retain all earned funds, up to the reserve account maximum. For purposes of this section, “earned funds” are those 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 8315. Earned but unexpended funds shall remain in the contractor’s reserve account within the child development fund and shall be expended only by programs that are funded under contract with the department.

(2)A California state preschool program contracting agency may retain a reserve fund balance equal to 15 percent of the sum of the maximum reimbursable amounts of all California state preschool program contracts, or two thousand dollars ($2,000), whichever is greater.

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Legislative history

Added by renumbering Section 8450 by Stats. 2021, Ch. 116, Sec. 230. (AB 131) Effective July 23, 2021.