Section 26-A8206. COMPILED FIVE-YEAR FORECAST

8206.1The compiled five (5) year forecast shall consist of the following:

(a)A balance sheet including, at a minimum, individual categories or line items that sum into the following subtotals:

(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)Overdue revenue – refundable;

(9)Deferred revenue – nonrefundable;

(10)Equity or fund balance – unrestricted; and

(11)Equity or fund balance – restricted;

(b)A statement of operations including, at a minimum, the following categories or line items:

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

(8)Dietary expenses;

(9)Administrative expenses;

(10)Interest expenses; and

(11)Depreciation;

(c)A statement of cash flow; and

(d)A narrative detailing all significant assumptions.

authority

The Commissioner of the Department of Insurance, Securities and Banking, pursuant to the authority set forth in section 7 of the Continuing Care Retirement Communities Act of 2004, effective April 6, 2005 (D.C. Law 15-270; D.C. Official Code § 44-151.01 et seq.)(2005 Supp.)(“Act”).

source

Notice of Final Rulemaking published at 53 DCR 1399 (February 24, 2006); as amended by Corrected Notice of Final Rulemaking published at 53 DCR 8475, 8481 (October 20, 2006).