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WAC 388-71-0740

What are the center's fiscal operational responsibilities?

(1) Adult day centers must demonstrate fiscal responsibility. Fiscal policies, procedures, reports, statements and records must be developed in accordance with generally accepted accounting principles (GAAP) and enable the administrator to meet the fiscal reporting needs of the governing body.
(2) Adult day centers must develop a yearly plan to address the future financial needs of the center. The plan must include projected program growth, capital purchases, projected revenue, projected expenses, and plans for fund raising, if applicable.
(3) Adult day centers must create a total center operating budget, including all expenditures, revenue sources and participant fees generated annually.
(4) An annual financial statement or the latest audit report of the organization by a certified public accountant performed at least every two years must be available.
(5) A statement of charges for services (fee schedule), including private pay rates and/or ancillary charges for additional services outside the scope of these rules, must be available.
[Statutory Authority: RCW 74.08.090, 74.09.520. WSR 15-01-174, § 388-71-0740, filed 12/23/14, effective 1/23/15. Statutory Authority: RCW 74.04.050, 74.04.057, 74.04.200, 74.08.090, 74.09.520, and 74.39A.030. WSR 03-06-024, § 388-71-0740, filed 2/24/03, effective 7/1/03.]
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