Arkansas Administrative Code
Agency 016 - DEPARTMENT OF HUMAN SERVICES
Division 26 - Division of Aging, Adult and Behavioral Health Services
Rule 016.26.24-002 - Assisted Living Facility Cost Reporting Pursuant to Act 198
Universal Citation: AR Admin Rules 016.26.24-002
Current through Register Vol. 49, No. 9, September, 2024
202.200 Living Choices Assisted Living Facility Cost Report Requirements
An assisted living facility participating in, or seeking to participate in, the Arkansas Medicaid Program, including any Medicaid waiver program under 42 U.S.C. § 1396n(c) or 42 U.S.C. § 1315, shall file a cost report with the Department of Human Services:
A. Annually not later than ninety (90) days
after the end of the fiscal year of the facility;
B. Within sixty (60) days of any significant
change in the facility's ownership, management, or financial status or
solvency; and
C. At any time within
sixty (60) days of a written request from the department or the Office of
Medicaid Inspector General.
The department shall post the cost-reporting instructions, forms, and schedules on its website.
A. The department may revise the
cost-reporting instructions, forms, and schedules at any time, following
consultation with representatives of the assisted living facility industry and
sixty days before written notice to each Medicaid-certified Level II licensed
assisted living facility.
B. In the
cost-reporting instructions, the department may require electronic submission
of cost reports and accompanying information.
C. In preparation and filing of cost reports,
each assisted living facility shall:
1. Comply
with generally accepted accounting principles and cost-reporting instructions
of the department;
2. Follow the
accrual method of accounting; and
3. Maintain the working trial balance used in
completing the cost reports for each reporting period for a minimum of three
(3) years.
D. To be
considered complete and timely filed, each cost report shall include all
information required by the forms, schedules, certifications, and instructions
specified by the department and otherwise comply with generally accepted
accounting principles and cost-reporting instructions of the
department.
E. Failure to file a
cost-report may result in penalties and sanctions as set forth in Arkansas Code
20-10-2401 et seq.
Disclaimer: These regulations may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
