Section 3420.40 - County Investments(a) A County shall invest funds distributed to its Local Mental Health Services Fund consistent with other county investments.(b) A County shall transfer any Investment Gain earned during a fiscal year into the Local Mental Health Services Fund during the same fiscal year.(c) A County shall allocate any Investment Gain or Investment Loss to the component account containing the principal upon which the Investment Gain or Investment Loss accrued during the fiscal year in which the Investment Gain or Investment Loss occurred.(d) A County shall allocate any Investment Gain or Investment Loss on Prudent Reserve funds to the CSS Account during the fiscal year in which the Investment Gain or Investment Loss occurred.(e) A County shall spend any Investment Gain within the timeframes specified in sections 3420.50, 3420.55 and 3420.60.(f) A County shall report in the Annual MHSA Revenue and Expenditure Report any Investment Gain or Investment Loss by component account.Cal. Code Regs. Tit. 9, § 3420.40
1. New section filed 5-6-2020; operative 7-1-2020 (Register 2020, No. 19). Note: Authority cited: Section 5898 Welfare and Institutions Code. Reference: Sections 5892(b), 5892(f), 5892(h), 5899(c)(3) and 5899(d), Welfare and Institutions Code.
1. New section filed 5-6-2020; operative 7/1/2020 (Register 2020, No. 19).