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Financial information that approved providers are required to provide

• Residents or their representatives
• Prospective residents or their representatives

Residents or their representatives

If you’ve paid an accommodation bond (more information) to stay in an aged care home, your provider (more information) must provide you or your representative with the following information, within four months after their financial year has finished:

• how many bond balances weren’t refunded within the statutory timeframe
• statements about whether they’ve complied with the applicable Prudential Standards set out by the government, and
• a copy of your entry in their bond register (presuming that you have paid your bond prior to the end of the financial year).

Also, if you’ve paid an accommodation bond and if requested, your provider should give you a copy of the following documentation within seven days of your request:

• the entry in their bond register that relates to you at the time you made your request, and
• either the most recent statement of their audited accounts, or the most recent accounts that relate to the aged care component of their organisation.

If your provider is receiving the government’s Conditional Adjustment Payment (CAP) (more information), the accounts they’re obliged to show you, should be the audited General Purpose Financial Report for the previous financial year.

In fact, if your provider receives CAP, you or your representative may request a copy of the most recent statement of the service’s audited accounts even if you haven’t paid a bond.

Read more: About the Conditional Adjustment Payment

Prospective residents or their representatives

If you have been approved by an Aged Care Assessment Team (ACAT or ACAS in Victoria) (more information) and you have strong interest in entering an aged care home which requires you to pay an accommodation bond, you can request the following information from the provider:

• how many bond balances weren’t refunded within the statutory timeframe in the previous financial year
• a statement about whether they’ve complied with the applicable Prudential Standards set out by the government, and
• either the most recent statement of their audited financial accounts, or the most recent accounts that relate to the aged care component of the organisation.

This information must be given to the prospective resident within 7 days of the request.

Read more: About getting an assessment

This page was last updated on: 04 April 2008

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