Section R. 400.4108 - Financing and auditRule 108. A licensee shall do all of the following:
(a) Obtain an annual audit of all financial accounts. Audits for nongovernmental institutions shall be conducted by an independent certified public accountant who is not administratively related to the agency.(b) Annually develop and implement a plan to correct any deficiencies identified.(c) Demonstrate sufficient financing to assure that proper care of residents is provided and that licensing rules are followed.(d) Develop a budget that includes projected income and expenditures.Mich. Admin. Code R. 400.4108
1983 AACS; 2015 MR 9, Eff. June 8, 2015