2019 New York Laws
PBH - Public Health
Article 46-A - Fee-for-Service Continuing Care Retirement Communities Demonstration Program
4658 - Annual Statement.

* §  4658.  Annual  statement.  1.  Within  four months of close of an
operator's fiscal year, unless an extension of time  to  file  has  been
granted,   the   operator  shall  file  an  annual  statement  with  the
commissioner showing the condition as of the last day of  the  preceding
calendar or fiscal year. If the commissioner does not receive the annual
statement within four months of the end of the operator's fiscal year or
has  not  granted an extension of time to file, the council may charge a
late fee.
  2. The  annual  statement  shall  be  in  such  form  as  the  council
prescribes and shall contain at least the following:
  a. Any change in status with respect to the information required to be
submitted  pursuant  to  section  forty-six  hundred fifty-seven of this
article;
  b. Financial statements audited by  an  independent  certified  public
accountant,  which  shall  contain,  for  two  or  more  periods  if the
community has been in existence that long, the following:
  (i)  notes  to  the  financial  statements  considered  customary   or
necessary  to  ensure  full  disclosure  of  the  financial  statements,
financial condition, and operation; and
  (ii)  an  accountant's  opinion  and,  in  accordance  with  generally
accepted  accounting principles: (A) a balance sheet, (B) a statement of
income and expenses, (C) a statement of equity or fund balances, and (D)
a statement of changes in financial position;
  c. A detailed listing of the assets maintained for the reserves; and
  d. Such other  reasonable  financial  and  other  information  as  the
council  may  require  with respect to the operator or the community, or
its  directors,  controlling  persons,  trustees,   members,   branches,
subsidiaries  or  affiliates  to  determine  the financial status of the
community and the management capabilities of the operator.
  3. Sixty days before commencement of each calendar or fiscal  year  or
official opening date, whichever is applicable, each operator shall file
with the commissioner a computation of the annual long-term debt service
and  a  projected  annual  revenue  and expense summary for the next ten
years.
  * NB There are 2 § 4658's