Requirement for 90 days operating expenses
“The guidance document related to “Requirement for 90 Days of Operating Expenses” is written in such a way that it will produce differences in interpretation across the state for licensing specialists responsible for licensing new sponsored homes or when renewing Sponsored Residential Providers. Some of the language within the document poses a risk to the future of Sponsored Residential Services and needs changed.
Sponsors must be allowed to continue to utilize the following acceptable forms of financial resources to document proof of 90 days of operating expenses 1) Personal or business savings account; 2) Personal or business checking account; 3) Home equity line of credit; 4) Bank line of credit; 5) Credit card with an available balance.
Remove the statement from the last paragraph that states “In order to meet regulatory requirements, these resources must be kept in separate accounts from which personal daily operating expenses are withdrawn or from which payments received for residents living in the home are deposited.” This is not asked of any other service line that we are aware of and this is not outlined anywhere in regulations for sponsored services. This puts an additional burden on the sponsor.”