Pursuant to §
63.2-1808A
3 of the Code of Virginia, the resident shall be free to manage his personal
finances and funds regardless of source, unless a committee, conservator, or
guardian has been appointed for a resident. However, the resident may request
that the facility assist with the management of personal funds, and the
facility may assist the resident in such management under the following
conditions:
1. There shall be
documentation of this request and delegation, signed and dated by the resident
and the administrator. The documentation shall be maintained in the resident's
record.
2. All resident funds shall
be held separately from any other moneys of the facility. No resident funds
shall be borrowed, used as assets of the facility, or used for purposes of
personal interest by the licensee, operator, administrator, or facility
staff.
3. The resident shall be
given a choice of whether he wishes his funds to be maintained in an individual
resident account or in a single account for the accumulated funds of multiple
residents, Either type of account may be interest-bearing. If the account is
interest-bearing, the resident must be provided his appropriate portion of the
interest.
4. The facility may
charge a reasonable amount for administration of the account, except for
residents who are recipients of an auxiliary grant as account administration is
covered by the grant.
5. The
facility shall maintain a written accounting of money received and disbursed by
the facility that shows a current balance. The written accounting of the funds
shall be made available to the resident at least quarterly and upon request,
and a copy shall also be placed in the resident's record.
6. The resident's funds shall be made
available to the resident upon request.
