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3canadopt you make some good points.
I do want to point out though that you do not have to adopt in the state you live in. If you aren't happy with the emom expenses that are typically paid in your state, you can register with an agency in another state.
Also, each state has it's own rules about what can and can't be paid. I would be concerned that the agency was just depositing money into her account. That's not the experience we had. Our agency controlled the money. We didn't see the receipts but after a failed match we did request a reconciliation and were able to see what had been paid. Our agency was paying the rent to the landlord, the electric to the company, the phone bill to the company, etc. She was given some cash for food, etc, but it was small compared to the rest of the expenses.
So I would add to what you said, check with the agency before you register on how they handle expenses. Not all agencies are the same. Even in your state, a different agency will handle expenses differently even if they are similar in $.