Financing

(1) Income shall be adequate and stable to insure the effective operation of the program to which the agency is committed. (2) A budgetary estimate showing details of anticipated income and expenditures for the coming year shall be approved by the board before the beginning of each fiscal year. The estimate shall be made available to the Department. (3) Financial accounts shall be audited biennially by a certified public accountant or a licensed public accountant. A copy of the audit shall be made available to the Department. (4) The administrator and others handling the agency’s funds shall be appropriately bonded.