(b) The operator shall
file an annual statement with the Commissioner of Health and Superintendent of
Insurance within four months following the close of the operator's fiscal year.
(1) If the operator's fiscal year ends within
six months following the issuance of the certificate of authority, the first
annual statement shall not be required until the end of the next fiscal
year.
(2) The operator may request an
extension of time to file the annual report. A request for extension of filing
time must be submitted in writing to the commissioner within 60 days prior to the
original due date. The commissioner shall issue an approval or disapproval in
writing within 30 days of receipt of the request. A formal request shall be
required for each year in which an extension is required.
(3) If the annual statement is not received by
the original due date or extended due date a late fee in the amount of $1 per
approved independent living unit per day may be charged.
(4) The annual statement must be accompanied by
a certification by the operator of a proprietary community, an officer of a
voluntary community, or the public official responsible for the operation of a
public community.
(5) The annual
statement shall show the condition of the community as of the last day of the
preceding fiscal year and shall include, at a minimum, the following information
in a format prescribed by the Council:
(i) a
change in status of any of the following information submitted with the original
application pursuant to section
900.3(c)(3)-(9)
and (11)-(14) of this Title:
(a) certificate of doing business;
(b) the life care contract;
(c) any contracts for the provision of nursing
home services, home health care services or adult care facility services to the
community;
(d) all executed and
proposed deeds, leases, and rental agreements or executed option contracts
related to the community's real property interests;
(e) any agreements or contracts between the
community and licensed insurers requiring the insurer to assume, wholly or in
part, the cost of medical or health related service to be provided to the
residents of the community;
(f) the
basic organizational documents and agreements including, as applicable: by-laws,
partnership agreements, articles of incorporation, articles of association or
other membership agreements, or their substantial equivalents;
(g) any by-laws, certificates of incorporation
of a parent corporation or controlling person and any agreements with such an
entity relating to the manner and mechanisms by which any such controlling person
or parent corporation will exercise control;
(h) the ownership of the property interests in
the community;
(i) the management
contract, if any;
(j) the initial
disclosure statement;
(ii)
financial statements prepared in accordance with the most current generally
accepted accounting principles and 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:
(a)
the accountant's opinion;
(b) a
balance sheet;
(c) statement of
income and expenses
(d) a statement
of equity or fund balances;
(e) a
statement of changes in financial position; and
(f) notes to the financial statements
considered customary or necessary to ensure full disclosure of the financial
statements, financial condition and operation;
(iii) a detailed listing of the assets
supporting the reserves required pursuant to section
901.7
of this Part and 11 NYCRR Part 350;
(iv) an actuarial review of the community
including an opinion of a qualified consulting actuary, as to the current and
projected soundness of the community; and
(v) 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.