La. Admin. Code tit. 48 § I-4947
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-4947 - Financial ManagementA. The provider must establish a system of financial management and staffing to assure maintenance of complete and accurate accounts, books and records in keeping with generally accepted accounting principles.B. The provider must demonstrate fiscal accountability through regular recording of its finances and an annual external audit conducted by a certified public accountant.C. The provider must not permit public funds to be paid, or committed to be paid, to any person to which any of the members of the governing body, administrative personnel, or members of the immediate families of members of the governing body or administrative personnel have any direct or indirect financial interest, or in which any of these persons serve as an officer or employee, unless the services or goods involved are provided at a competitive cost or under terms favorable to the provider. The provider shall have a written disclosure of any financial transaction with the provider in which a member of the governing body, administrative personnel, or his/her immediate family is involved.D. The provider must be capable of reporting fiscal data from July 1 through June 30.E. The provider must have adequate and appropriate general liability insurance for the protection of its consumers, staff, facilities, and the general public.La. Admin. Code tit. 48, § I-4947
Promulgated by the Department of Health and Human Resources, Office of the Secretary, Division of Licensing and Certification, LR 13:246 (April 1987), amended by the Department of Health and Hospitals, Office of the Secretary, LR 20:890 (August 1994).AUTHORITY NOTE: Promulgated in accordance with R. S. 28:380-451.