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administrator’s performance;

(4) employ or contract with a sufficient number of administrative and service staff to provide the services the agency is licensed to provide under AS 47.32 and this chapter;

(5) approve the annual budget of anticipated income and expenses to provide the services described in the agency’s statement of purpose and approve or take corrective action on financial audit reports of the agency;

(6) conduct at least three meetings each year and maintain minutes of all meetings; and

(7) provide for orientation to new members of the board or other body and biennial training for all members on the role and responsibilities of a member of the board or other body. (b) If a board or other body does not govern an agency, policy for the operation and management of the agency shall be determined by the operator of the agency, or by the administrator if the authority to determine policy is delegated to the administrator by the operator. Implementation of the policies of the agency is the responsibility of the administrator. (Eff. 1/1/2001, Register 156; am 7/1/2022, Register 242) Statutory Authority: Authority: AS 44.30.020 AS 47.32.030 7 AAC 56.110. Fiscal accountability. (a) To meet general fiscal requirements a child placement agency shall

(1) be established and maintained on a sound fiscal basis; the department will consider an agency to meet the requirements of this paragraph if the agency has income adequate to cover its expenses;

(2) maintain complete financial records; and

(3) have a fee policy that clearly describes what fees are charged and what services are covered by the fees; for agencies providing adoption services, the fee policy must be submitted to the department. (b) With regard to child placement activity an agency created within 12 months of an application for a license under AS 47.32 and this chapter shall

(1) set up a financial record keeping system that shows the income from all sources and