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(ii) Description of services offered; (iii) Ages and genders of children accepted; (iv) Types of children accepted (e.g., abused/neglected, emotionally disturbed, dependent/ne- glected, status offenders, etc.); (v) The geographical areas from which children are accepted. (2) The facility shall reevaluate its functions periodically and redefine them as community needs change. A copy of the revised statement shall be submitted to the Agency when changes occur. B. Board of Directors. (1) A for-profit group care facility may elect to have a board of directors. If applicable, a list of names of board members shall be submitted annually or whenever there is a change, outlining the chain of command and the appropriate contact person(s), including names, addresses, electronic mail addresses, related phone numbers and positions held on the board. In the absence of a board of directors, the group care facility shall submit names, addresses, electronic mail addresses, related phone number and positions held for executive management or any person or each person of an entity that oversees the group home director. (2) A not-for-profit group care facility shall be chartered by the Secretary of State and shall have a board which functions in accordance with the organization’s constitution and bylaws. A list of names of board members shall be submitted annually or whenever there is a change, outlining the chain of command and the appropriate contact person(s) including names, addresses, electronic mail address- es, related phone numbers and position held on the board. Facilities operated by a state agency are exempt from this requirement. (3) The bylaws of a board of a not-for-profit group care facility shall provide for the following: (a) At least one annual meeting held at the group care facility; (b) A limitation on the number of consecutive terms a member may serve; (c) An orientation for new board members; and (d) A provision that prohibits board members from receiving financial compensation for their services. (4) Responsibilities of a board of a not-for-profit group care facility shall include: (a) Selecting the director to whom administrative responsibility is to be delegated; (b) Assuring that adequate funds are available; (c) Formulating or approving policies and procedures; (d) Accounting for the expenditure of funds and providing financial oversight; (e) Evaluating on an annual basis the performance of the director; (f) Ensuring that the Agency is informed of changes in administration; (g) Ensuring adherence to legal standard and ethical norms; and (h) The board shall assist in developing the annual budget and ensure the inclusion of sound financial controls. C. Finances. (1) The group care facility shall utilize funds in a manner that is safe, child-centered, responsible, and free from fraud. Policies and practices shall be in accord with sound budgeting, disbursement, and audit control procedures. (2) The group care facility shall maintain a system of business management and staffing to ensure complete and accurate accounts, books, and records are maintained. (3) A new group care facility shall have a predictable source of funds to finance its first year of operation and reserve funds equal to the operating costs of the first six months. However, existing licensed group care facilities that are in good standing with the Agency and increasing the capacity by no more than twenty-five (25) percent are exempt from the requirements to submit evidence of reserve funds or available credit.