North Carolina Administrative Code
Title 11 - INSURANCE
Chapter 11 - FINANCIAL EVALUATION DIVISION
Subchapter H - CONTINUING CARE FACILITIES
Section 11H .0108 - COMPILED FIVE YEAR FORECAST

Universal Citation: 11 NC Admin Code 11H .0108

Current through Register Vol. 39, No. 6, September 16, 2024

(a) The compiled five year forecast shall consist of the following:

(1) a balance sheet;

(2) a statement of operations;

(3) a statement of cash flows; and

(4) a narrative detailing all significant assumptions.

(b) The balance sheet shall include individual categories or line items that sum into the following sub-totals, at a minimum:

(1) current assets;

(2) restricted assets, including a line item for operating reserve assets;

(3) fixed assets, including property, plant, and equipment;

(4) total assets;

(5) current liabilities;

(6) long-term debt;

(7) total liabilities;

(8) deferred revenue-refundable;

(9) deferred revenue-nonrefundable;

(10) equity or fund balance-unrestricted; and

(11) equity or fund balance-restricted.

(c) The statement of operations shall include the following individual categories or line items, at a minimum:

(1) monthly fee revenues;

(2) amortization of entrance fees;

(3) health care revenues;

(4) investment/interest income;

(5) contributions/gifts;

(6) health care expenses;

(7) operations expenses, consisting of at least maintenance, laundry, and housekeeping;

(8) dietary expenses;

(9) administrative expenses;

(10) interest expenses; and

(11) depreciation.

Authority G.S. 58-2-40; 58-64-20; 58-64-65;
Eff. April 1, 1993;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 20, 2015.

Disclaimer: These regulations may not be the most recent version. North Carolina 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.