Mich. Admin. Code R. 400.4108 - Financing and audit
Rule 108. A licensee shall do all of the following:
(a) Obtain an annual audit of all financial
accounts. Audits for nongovernmental institutions shall be conducted by an
independent certified public accountant who is not administratively related to
the agency.
(b) Annually develop
and implement a plan to correct any deficiencies identified.
(c) Demonstrate sufficient financing to
assure that proper care of residents is provided and that licensing rules are
followed.
(d) Develop a budget that
includes projected income and expenditures.
Notes
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