12 Va. Admin. Code § 35-46-190

Current through Register Vol. 41, No. 10, December 30, 2024

Section 12VAC35-46-190 - 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. There shall be a system of financial recordkeeping that shows a separation of the facility's accounts from all other records.

C. 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.

12 Va. Admin. Code § 35-46-190

Derived from Virginia Register Volume 25, Issue 21, eff. August 6, 2009.

Statutory Authority

§§ 37.2-408 and 37.2-203 of the Code of Virginia.