Section 3420.60 - Reversion for All Counties: Cftn Account and Wet Account(a) A County shall spend CFTN Account and WET Account monies, including funds transferred from its CSS Account to its CFTN Account or WET Account pursuant to Section 3420.10 within ten (10) fiscal years of receiving those funds from the State Controller or within ten (10) fiscal years of transferring funds from the Prudent Reserve to its CSS Account pursuant to section 3420.30(g). In determining the ten (10) fiscal year period, the fiscal year in which the State Controller distributes CSS funds to the County, or the fiscal year in which the County transfers funds from the Prudent Reserve to its CSS Account pursuant to section 3420.30(g), shall be the first fiscal year. If a County fails to spend such funds within ten (10) fiscal years, the funds shall revert to the Mental Health Services Fund for deposit into the Reversion Account.(b) CFTN Account monies that a County uses to purchase an asset shall be considered spent when the County purchases the asset, pursuant to Section 3420.45(a).(c) A County shall spend CFTN Account and WET Account monies for authorized purposes as specified in section 3420. Any CFTN Account and WET Account monies spent for unauthorized purposes shall be subject to reversion.(d) This section shall apply to Mental Health Services Fund monies the State Controller distributed to a County during fiscal year 2008-09 and subsequent fiscal years.Cal. Code Regs. Tit. 9, § 3420.60
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(h)(1) and 5899.1(a), Welfare and Institutions Code.
1. New section filed 5-6-2020; operative 7/1/2020 (Register 2020, No. 19).