Virginia Administrative Code › Title 12 - HEALTH › Agency 30 - DEPARTMENT OF MEDICAL ASSISTANCE SERVICES › Chapter 90 - METHODS AND STANDARDS FOR ESTABLISHING PAYMENT RATES FOR LONG-TERM CARE › Part II - Nursing Home Payment System › Subpart II - Rate Determination Procedures › Article 7 - Cost Reports › Section 12VAC30-90-70 - Cost report submission

Current through Register Vol. 40, No. 24, July 15, 2024
A.
						Cost reports are due not later than 150 days after the provider's fiscal year
						end. If a complete cost report is not received within 150 days after the end of
						the provider's fiscal year, it is considered delinquent. The cost report shall
						be deemed complete for the purpose of cost settlement when DMAS has received
						all of the following (note that if the audited financial statements required by
						subdivisions 3 a and 7 b of this subsection are received not later than 120
						days after the provider's fiscal year end and all other items listed are
						received not later than 90 days after the provider's fiscal year end, the cost
						report shall be considered to have been filed at 90 days):
1. Completed cost reporting forms provided by
						DMAS, with signed certifications;
2. The provider's trial balance showing
						adjusting journal entries;
3.
a. The provider's audited financial
						statements including, but not limited to, a balance sheet, a statement of
						income and expenses, a statement of retained earnings (or fund balance), a
						statement of cash flows, the auditor's report in which he expresses his opinion
						or, if circumstances require, disclaims an opinion based on generally accepted
						auditing standards, footnotes to the financial statements, and the management
						report. Multi-facility providers shall be governed by subdivision 7 of this
						subsection;
b. Schedule of
						restricted cash funds that identify the purpose of each fund and the
						amount;
c. Schedule of investments
						by type (stock, bond, etc.), amount, and current market value;
4. Schedules that reconcile
						financial statements and trial balance to expenses claimed in the cost
						report;
5. Depreciation
						schedule;
6. Schedule of assets as
						defined in
						12VAC30-90-38;
7. Nursing facilities that are part of a
						chain organization must also file:
a. Home
						office cost report;
b. Audited
						consolidated financial statements of the chain organization including the
						auditor's report in which he expresses his opinion or, if circumstances
						require, disclaims an opinion based on generally accepted auditing standards,
						the management report and footnotes to the financial statements;
c. The nursing facility's financial
						statements including, but not limited to, a balance sheet, a statement of
						income and expenses, a statement of retained earnings (or fund balance), and a
						statement of cash flows;
d.
						Schedule of restricted cash funds that identify the purpose of each fund and
						the amount;
e. Schedule of
						investments by type (stock, bond, etc.), amount, and current market value;
						and
8. Such other
						analytical information or supporting documentation that may be required by
						DMAS.