W. Va. Code R. § 64-11-8 - Financial Management
8.1. The
provider shall have a written budget, approved by the governing body, that
shall serve as a plan for managing its financial resources for the fiscal
year.
8.2. The provider shall have
established financial management policies and procedures that follow generally
accepted accounting principles (GAAP).
8.3. Financial accountability for consumer
funds. -- A provider that assumes fiduciary responsibility for consumer funds
shall have written operational procedures that ensure:
8.3.1. Separate individual accounting of
funds with monthly statements to the consumer and his or her DLR, if any. Funds
managed on behalf of consumers shall not be commingled with provider funds.
Consumer funds may be maintained in one account for all consumer funds.
However, an individual accounting for each consumer must be maintained and one
consumer's funds may not be used for the expenses of another consumer;
and
8.3.2. Compliance with
applicable legislative, judicial, and governmental requirements, including
those applying to payment of benefits allotted by the state or federal
government.
8.4. The
chief executive officer, governing body, or both shall ensure adequate
resources to support the provider's services. Sufficient operating funds shall
consist of cash, liquid capital, or an irrevocable letter of credit.
8.5. All money earned by a consumer shall be
used for the sole benefit of that consumer.
8.6. Providers shall allow a consumer or his
or her DLR to use his or her personal funds.
Notes
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