North Carolina Administrative Code
Title 10A - HEALTH AND HUMAN SERVICES
Chapter 27 - MENTAL HEALTH, COMMUNITY FACILITIES AND SERVICES
Subchapter A - FISCAL RULES
Section .0100 - ACCOUNTING STANDARDS FOR ALL RECIPIENTS OF FUNDS ADMINISTERED BY THE DIVISION
Section 27A .0114 - AREA AUTHORITY FINANCIAL FAILURE DEFINED
Universal Citation: 10A NC Admin Code 27A .0114
Current through Register Vol. 39, No. 6, September 16, 2024
(a) An area authority shall be deemed to be in imminent danger of failing financially if the Division determines at any time that one or more of the following conditions are met:
(1) The projected annual
expenditures of the area authority exceed the sum of the projected annual
revenues and fund balance of the authority and the governing board of the
authority has not demonstrated an ability or willingness to take appropriate
action to correct the imbalance; or
(2) The area authority has not complied with
the reporting requirements of
G.S.
122C-124, as set forth in the annual
Memorandum of Agreement between the Division and the area authority.
(b) An area authority shall be deemed to be in imminent danger of failing to provide direct service to clients if it is in imminent danger of failing financially as defined in this Rule.
Authority
G.S.
122C-125;
Eff. February 1,
1996;
Pursuant to
G.S.
150B-21.3A, rule is necessary without
substantive public interest Eff. June 25,
2016.
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