N.J. Admin. Code § 10:44A-2.10 - Individual financial records: personal funds

(a) Each individual shall have the right to manage his or her own personal funds consistent with his or her abilities.

1. If it has been determined that the individual cannot independently manage his or her funds/finances, the PT shall determine how much money, if any, can be managed by the individual at any given time.

(b) For all personal funds entrusted to the licensee, the licensee shall maintain records and receipts of all income received and all disbursements of the individual's funds.

1. All receipts related to disbursements of an individual's entrusted funds and purchases made on behalf of an individual shall be maintained while the individual resides at the residence.

2. If an individual's personal funds are entrusted to a licensee, moneys received by an individual in excess of $ 200.00 shall be placed in an interest-bearing account, unless otherwise determined by the PT.

3. The licensee may keep up to $ 200.00 of an individual's entrusted funds in a non-interest-bearing account or petty cash fund, to be readily available for current expenditures, providing it is kept for safekeeping in an account separate from all other funds for the residence.

4. Any increase in this amount shall be authorized by the individual and his or her guardian, where applicable, and documented in the individual's record.

(c) The licensee shall, upon written request from the individual and his or her guardian, where applicable, return any or all of the individual's funds entrusted to the licensee, including the interest accrued from deposits.

(d) There shall be no loans of finances, resources, or property from an individual receiving services to the licensee, staff member, or any other individual receiving services.

(e) The licensee to whom the individual entrusts his or her funds shall ensure that the management of such funds does not jeopardize the individual's entitlements to any appropriate Federal or private benefit.

(f) The licensee shall allow each individual and guardian, where applicable, access to a written record of all financial arrangements and transactions involving the individual's entrusted funds, upon request.

1. Copies of this record shall be made available to the individual and his or her guardian, upon request.

Notes

N.J. Admin. Code § 10:44A-2.10

Amended by 55 N.J.R. 171(a), effective 2/6/2023