Utah Admin. Code R432-270-20 - Management of Resident Funds
(1)
Residents have the right to manage and control their financial affairs. The
licensee may not require a resident to deposit their personal funds or
valuables with the facility.
(2)
The licensee is not required to handle a resident's cash resources or
valuables. However, upon written authorization by the resident or the
resident's responsible person, the facility may hold, safeguard, manage, and
account for the resident's personal funds or valuables deposited with the
facility, in accordance with this section.
(3) The licensee shall establish and
maintain, on the resident's behalf, a system that ensures a full, complete, and
separate accounting according to generally accepted accounting principles of
each resident's personal funds entrusted to the facility. The system shall:
(a) preclude any commingling of resident
funds with facility funds or with the funds of any person other than another
resident, and preclude facility personnel from using a resident's funds or
valuables as their own;
(b)
separate a resident's funds and valuables intact and free from any liability
that the licensee incurs in the use of its own or the facility's funds and
valuables;
(c) maintains a separate
account for resident funds for each facility and does not commingle such funds
with resident funds from another facility;
(d) for records of a resident's funds that
are maintained as a drawing account, include a control account for receipts and
expenditures and an account for each resident and supporting receipts filed in
chronological order;
(e) keep each
account with columns for debits, credits, and balance; and
(f) include a copy of the receipt that it
furnished to the resident for funds received and other valuables entrusted to
the licensee for safekeeping.
(4) The licensee shall ensure individual
financial records are made available on request through quarterly statements to
the resident or the resident's legal representative.
(5) The licensee shall purchase a surety bond
or otherwise provide assurance satisfactory to the department that resident
personal funds deposited with the facility are secure.
(6) The licensee shall ensure:
(a) resident funds over $150 are deposited
within five days of receipt in an interest-bearing bank account at a local
financial institution separate from any of the facility's operating
accounts;
(b) interest earned on a
resident's bank account is credited to the resident's account;
(c) each resident's share, including
interest, has separate accounting in pooled accounts; and
(d) resident personal funds that do not
exceed $150 are kept in either a non-interest-bearing account, an
interest-bearing account, or a petty cash fund.
(7) Upon discharge of a resident with funds
or valuables deposited with the facility, the licensee shall ensure the
resident's funds are conveyed the same day, and a final accounting of those
funds provided to the resident or the resident's legal
representative.
(8) Upon discharge
of a resident with funds or valuables kept in an interest-bearing account, the
licensee shall ensure the funds or valuables are accounted for and made
available to the resident or resident's legal representative within three
working days.
(9) Within 30 days
following the death of a resident, except in a medical examiner case, the
licensee shall ensure the resident's valuables and funds entrusted to the
facility are conveyed, and a final accounting of those funds, to the individual
administering the resident's estate.
Notes
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