Aged Care Act 2024 (Australia)
Obligations: reporting, notifications and information – Aged Care Act 2024 (Australia)

Aged Care Act 2024 (Australia) 166-FIN: Section 166 and Rules 166-310 to 166-385: financial and prudential reports

Every registered provider (other than for CHSP, NATSIFACP and TCP services) must give the System Governor an aged care financial report in the approved form, signed by a governing body member, within 4 months after each reporting period (the financial year unless another 12-month period is approved), including where applicable a financial support statement, a general purpose financial report and the annual prudential compliance statement, and for residential care a care minutes performance statement, accommodation payment and bond amounts and building and refurbishment activity; a quarterly financial report, signed the same way, is also due for each quarter (outside CHSP and TCP). A residential provider holding lump-sum refundable deposits, bonds or entry contributions must also give an annual prudential compliance statement covering compliance with the Financial and Prudential Standards, permitted-use and refund rules and the refundable deposit register condition, reasons for any non-compliance, disclosure failures by number and reason, the minimum liquidity amount, strategy and system review dates, and an audit opinion from a registered company auditor or approved person. CHSP, NATSIFACP, MPSP and TCP providers give their program-specific financial declarations and activity reports. The reports are kept for seven years (154-300).

Maintained by Gerard Blokdyk

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