Filing an Annual Attested Financial Statement

Section 390 Section 390.210  Filing an Annual Attested Financial Statement a) Each licensee shall file annually an attested financial statement. The Director may order an audited financial statement of a particular facility by an auditor of the Director's choice. The Department will pay the cost of extra audits ordered by the Director.  The time period covered in the financial statement shall be a period determined by the Department for the initial filing, and after the initial filing shall coincide with the facility's fiscal year or the calendar year. (Section 3-208(a) of the Act) b)         The financial statement shall be filed with the Department within 90 days following the end of the designated reporting period. The financial statement will not be considered as having been filed unless all sections of the prescribed forms have been properly completed.  Those sections that do not apply to a particular facility shall be noted "not applicable" on the forms. c)         The information required to be submitted in the financial statement shall include, but is not limited to, the following: 1)         Facility information, including:  facility  name and address, licensure information, type of ownership, licensed bed capacity, date and cost of building construction and  additions, date and cost of acquisition of buildings, building sizes, equipment costs and dates of acquisition. 2)         Resident information, including:  number and level of care of residents by source of payment, income from residents by level of care. 3)         Cost information by level of care, including: A)        General service costs such as dietary, food, housekeeping, laundry, utilities, and plant operation and maintenance. B)        Health care costs such as medical director, nursing, medications, oxygen, activities, medical records, other medical services, social services, and utilization reviews. C)        General administration costs such as administrative salaries, professional services, fees, subscriptions, promotional, insurance, travel, clerical, employee benefits, license fees, and in-service training and education. D)        Ownership costs such as depreciation, interest, taxes, rent, and leasing. E)        Special Service cost centers such as habilitative and rehabilitative services, therapies, transportation, education, barber and beauty care, and gift and coffee shops. 4)         Income information, including operating and non-operating income. 5)         Ownership information, including balance sheet and payment to owners. 6)         Personnel information, including the number and type of people employed and salaries paid. 7)         Related organization information, including related organizations from which services are purchased. d)         The new owner or a new lessee of a previously licensed facility may file a projection of capital costs at the time of closing or signing of the lease. e)         The new owner or new lessee of a facility that is licensed for the first time (a newly constructed facility) shall file a projection of capital costs. f)         The owner or lessee in subsections (d) and (e) shall file a full cost report within nine months after acquisition (covering the first six months of operation).  Each shall also file a cost report within 90 days after the close of its first complete fiscal year. g) No public funds shall be expended for the maintenance of any resident in a facility that has failed to file the financial statement, and no public funds shall be paid to, or on behalf of, a facility that has failed to file a statement. (Section 3-208(b) of the Act)