Final Text
22VAC40-151-20. Investigation. (Repealed.)
The department will arrange and conduct an on-site
inspection of the facility, a thorough review of the activities and services,
and an investigation of the financial responsibility, character, and reputation
of the applicant.
22VAC40-151-130. Fiscal accountability.
A. Facilities operated by corporations, unincorporated
organizations or associations, individuals, or partnerships shall prepare at
the end of each fiscal year:
1. An operating statement showing revenue and expenses for
the fiscal year just ended;
2. A working budget showing projected revenue and expenses
for the next fiscal year that gives evidence that there are sufficient funds to
operate; and
3. A balance sheet showing assets and liabilities for the
fiscal year just ended.
B. A. There shall be a system of financial
recordkeeping that shows a separation of the facility's accounts from all other
records.
C. B. The provider shall develop and implement
written policies and procedures that address the day-to-day handling of
facility funds to include:
1. Handling of deposits;
2. Writing of checks; and
3. Handling of petty cash.