Financial Ability to Operate, Budget, Insurance, and Business Records
Keeps the Agency able to show AHCA its financial ability to operate, requires an annual budget approved by the governing body, requires notice to AHCA within 10 days of any court action to start bankruptcy, foreclosure, or eviction proceedings, keeps the required insurance in force, and sets how long business records are kept, with the federal institutional planning duties for a Medicare-certified agency.
About this policy
- Policy number
- FL-HH-BUS-01
- Version
- 1.0
- Main rule
- s. 408.810(8), F.S.
- Library
- Florida home health · 57 policies
- Category
- Business
- Sections
- 18
In short
- The governing body approves a budget every year and checks the Agency's finances each quarter.
- If a paycheck bounces or a bill for essential services goes unpaid, tell the Administrator the same day.
- The Agency must tell the state within 10 days of any bankruptcy, foreclosure, or eviction court action.
- Financial and business records are kept for at least six years.
What's inside
18 sections. The full text comes with the One-time Policy Pack.
- Terms of Reference
- 1. Purpose
- 2. Scope
- 3. Definitions
- 4. Policy Statement (s. 408.810(8), F.S.)
- 5. Financial Ability at Licensure and Change of Ownership
- 6. Annual Budget and Financial Reports
- 7. Signs of Financial Instability
- 8. Notice of Bankruptcy, Foreclosure, or Eviction
- 9. Insurance
- 10. Business and Financial Records
- 11. Responsibilities
- 12. Records and Compliance Monitoring
- 13. Staff Training
- 14. References
- 15. Related Policies and Forms
- 16. Approval
- 17. Revision History
An inspector may ask
- Show me this year's operating budget and the minutes approving it.
- Has there been any bankruptcy, foreclosure, or eviction proceeding involving the Agency? When did you tell AHCA?
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