Kan. Admin. Regs. § 112-104-5 - Standard financial reports
(a) Each facility manager's internal control
system shall include internal controls for standard financial reports. The
internal controls shall be submitted to and approved by the commission under
K.A.R. 112-104-1 . A facility manager shall file the following financial data
reports:
(1) A balance sheet submitted
monthly, quarterly, and annually;
(2) an income statement submitted monthly,
quarterly, and annually;
(3) a cash
flow statement submitted monthly, quarterly, and annually;
(4) daily net EGM income submitted daily,
monthly, quarterly, and annually; and
(5) a comparison of net EGM income to
projected net EGM income submitted monthly, quarterly, and annually.
(b) Standard reporting forms and
corresponding filing instructions may be prescribed by the executive director
to be used by a facility manager in filing the monthly reports specified in
subsection (a).
(c) The annual
reports shall be based on a fiscal year beginning July 1 and ending June 30,
unless otherwise approved by the executive director. The quarterly reports
shall be based on the quarters ending September 30, December 31, March 31, and
June 30, unless otherwise approved by the executive director. The monthly
reports shall be based on calendar months. Interim reports shall contain a
cumulative year-to-date column.
(d)
The annual financial statements shall be prepared on a comparative basis for
the current and prior years and shall present financial position, results of
operations, and cash flows in conformity with GAAP.
(e) The electronically transmitted reports or
hard copy reports required to be filed pursuant to this regulation shall be
authorized by individuals designated by the facility manager. In addition, the
facility manager shall submit a letter attesting to the completeness and
accuracy of the reports. The letter shall be signed by the facility manager's
chief financial officer or controller.
(f) The reports required to be filed pursuant
to this regulation shall be addressed as prescribed by the executive director
and received no later than the required filing date. The required filing dates
shall be the following:
(1) Monthly reports
shall be due on the last calendar day of the following month or the next
business day if the day falls on a weekend or legal holiday.
(2) Quarterly reports for the first three
quarters shall be due on the last calendar day of the second month following
the end of the facility manager's quarter. Quarterly reports for the fourth
quarter shall be due on the last calendar day of the third month following the
end of the facility manager's fourth quarter.
(3) Annual reports shall be due on the last
calendar day of the third month following the end of the facility manager's
year or 10 days after form 10-K is filed with the securities and exchange
commission, whichever comes first.
(g) In the event of a license termination,
change in business entity, or a change in ownership of at least 20%, the
facility manager shall file with the commission the required financial and
statistical reports listed in paragraphs (a)(1) through (3) for the previous
month through the date of occurrence. The facility manager shall file the
reports within 30 calendar days of the occurrence.
(h) All significant adjustments resulting
from the annual audit required in K.A.R. 112-104-6 shall be recorded in the
accounting records of the year to which the adjustment relates. If the
adjustments were not reflected in any annual report and the commission
concludes that the adjustments are significant, the facility manager may be
required by the executive director to file a revised annual report. The revised
filing shall be due within 30 calendar days after written notification to the
facility manager, unless the facility manager submits a written request for an
extension before the required filing date and the extension is granted by the
executive director.
(i) Additional
financial reports may be requested in writing by the executive director to
determine compliance by the facility manager with the act and this
article.
Notes
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