Section 5320.63. Resident funds

The provider shall develop written policies and procedures addressing:

(1) Costs and liabilities for service according to the Letter of Agreement between the LTSR provider and the county administrator, described in § 5320.11 (relating to prerequisites to licensure) and in the resident/provider contract described in § 5320.33 (relating to resident/ provider contract; information on resident rights).

(2) Training for residents who require assistance in the management of their financial affairs.

(3) Maintenance of a separate and current individual record of financial transactions made on behalf of the resident that is available on request to the resident or the resident’s designated person, if any.

(4) Financial assistance by the provider, which shall include:

(i) Written receipts and quarterly statements of transactions, deposits and expenditures made on behalf of residents as well as disbursement of funds. The provider shall obtain written acknowldgement by the resident of the receipt of funds.

(ii) Provisions for the availability to the resident of documented accounting of deposits, receipts of funds, dispersal of funds and the current balance.

(iii) Assistance with financial arrangements if a resident’s accumulated cash assets (after per diem care costs) exceeds $200. The provider shall notify the resident and offer assistance in establishing an interest-bearing account in the resident’s name at a local financial institution protected by the Federal Deposit Insurance Corporation, or another appropriate arrangement indicated by the resident.

(iv) Transfer of the resident’s funds and possessions to the administrator or the executor of the resident’s estate, together with an itemized written account upon the death of a resident. A signed receipt shall be obtained and retained by the provider.

(v) Providing the resident with an itemized written account of funds upon termination of service. A balance remaining on the resident’s account with the provider shall be immediately returned to the resident.