N.Y. Comp. Codes R. & Regs. tit. 10 § 87.5

Current through Register Vol. 46, No. 50, December 11, 2024

Section 87.5 - Development period records and reports

(a) A nursing home company shall establish and maintain a uniform system of accounts during the development period as required by the accounting manual of the State Department of Health.

(b) The following reports during the development period after mortgage closing shall be submitted promptly to the State Department of Health:

(1) Quarterly reports commencing with the date of inception to and including the last day of March, June, September, and December.

(2) Each report for the period ending December 31 shall contain the opinion and certificate of an independent licensed or certified public accountant.

(3) The project shall file quarterly reports until the declaration of the final financial occupancy date by the State Commissioner of Health. The final development period report shall contain the opinion and certificate of an independent licensed or certified public accountant.

(c) All reports to the State Department of Health required by this Part shall be submitted within 60 days following the end of the reporting period or as otherwise specified by the State Department of Health.

(d) A nursing home company shall submit promptly such special reports as may from time to time be required by the State Department of Health.

N.Y. Comp. Codes R. & Regs. Tit. 10 § 87.5