Section R432-270-20 - Management of Resident Funds(1) Residents have the right to manage and control their financial affairs. The licensee may not require a resident to deposit their personal funds or valuables with the facility.(2) The licensee is not required to handle a resident's cash resources or valuables. However, upon written authorization by the resident or the resident's responsible person, the facility may hold, safeguard, manage, and account for the resident's personal funds or valuables deposited with the facility, in accordance with this section.(3) The licensee shall establish and maintain, on the resident's behalf, a system that ensures a full, complete, and separate accounting according to generally accepted accounting principles of each resident's personal funds entrusted to the facility. The system shall: (a) preclude any commingling of resident funds with facility funds or with the funds of any person other than another resident, and preclude facility personnel from using a resident's funds or valuables as their own;(b) separate a resident's funds and valuables intact and free from any liability that the licensee incurs in the use of its own or the facility's funds and valuables;(c) maintains a separate account for resident funds for each facility and does not commingle such funds with resident funds from another facility;(d) for records of a resident's funds that are maintained as a drawing account, include a control account for receipts and expenditures and an account for each resident and supporting receipts filed in chronological order;(e) keep each account with columns for debits, credits, and balance; and(f) include a copy of the receipt that it furnished to the resident for funds received and other valuables entrusted to the licensee for safekeeping.(4) The licensee shall ensure individual financial records are made available on request through quarterly statements to the resident or the resident's legal representative.(5) The licensee shall purchase a surety bond or otherwise provide assurance satisfactory to the department that resident personal funds deposited with the facility are secure.(6) The licensee shall ensure: (a) resident funds over $150 are deposited within five days of receipt in an interest-bearing bank account at a local financial institution separate from any of the facility's operating accounts;(b) interest earned on a resident's bank account is credited to the resident's account;(c) each resident's share, including interest, has separate accounting in pooled accounts; and(d) resident personal funds that do not exceed $150 are kept in either a non-interest-bearing account, an interest-bearing account, or a petty cash fund.(7) Upon discharge of a resident with funds or valuables deposited with the facility, the licensee shall ensure the resident's funds are conveyed the same day, and a final accounting of those funds provided to the resident or the resident's legal representative.(8) Upon discharge of a resident with funds or valuables kept in an interest-bearing account, the licensee shall ensure the funds or valuables are accounted for and made available to the resident or resident's legal representative within three working days.(9) Within 30 days following the death of a resident, except in a medical examiner case, the licensee shall ensure the resident's valuables and funds entrusted to the facility are conveyed, and a final accounting of those funds, to the individual administering the resident's estate.Utah Admin. Code R432-270-20
Amended by Utah State Bulletin Number 2020-19, effective 9/15/2020Amended by Utah State Bulletin Number 2023-22, effective 11/9/2023