11 NCAC 11H .0108          COMPILED FIVE YEAR FORECAST

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

(1)           a balance sheet;

(2)           a statement of operations;

(3)           a statement of cash flows; and

(4)           a narrative detailing all significant assumptions.

(b)  The balance sheet shall include individual categories or line items that sum into the following sub‑totals, at a minimum:

(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)           deferred revenue‑refundable;

(9)           deferred revenue‑nonrefundable;

(10)         equity or fund balance‑unrestricted; and

(11)         equity or fund balance‑restricted.

(c)  The statement of operations shall include the following individual categories or line items, at a minimum:

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

(8)           dietary expenses;

(9)           administrative expenses;

(10)         interest expenses; and

(11)         depreciation.

History Note:        Authority G.S. 58‑2‑40; 58‑64‑20; 58‑64‑65;

Eff. April 1, 1993;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 20, 2015.