20-1807. Annual report; civil penalty

A. Each year not later than ninety days after the last day of the provider's fiscal year, each provider shall file with the department an annual report accompanied by the fee prescribed in section 20-167. The annual report shall include the information required by section 20-1802, subsection B, except that the information required by section 20-1802, subsection B, paragraphs 5, 15 and 17 shall be filed in accordance with the provisions of subsection C of this section. The annual report need not include the information required by section 20-1802, subsection B, paragraph 16. The annual report shall be made on forms provided by the department. The annual report and any amendment to the annual report shall be signed under oath by the chief executive officer of the provider. For good cause, the director may extend the due date for a provider to file its annual report and pay the required fee.

B. A provider shall amend its annual report on file with the department at any time, without the payment of any additional fee, if an amendment is necessary to prevent the annual report from containing a material misstatement of fact or omitting to state a material fact required to be stated.

C. Any provider, manager or promoter shall comply with the requirements of this section as follows:

1. Information required by section 20-1802, subsection B, paragraph 5 shall be filed:

(a) Immediately on the substitution or installation of a member of the board of directors or an officer, trustee or managing partner different from the information disclosed in the provider's application or submission pursuant to subdivision (b).

(b) Every three years after the initial filing of the biographical affidavit by the provider.

2. Certified financial statements required by section 20-1802, subsection B, paragraph 15 for the two most recent fiscal years shall be filed with the annual report by the provider and manager only. The certified financial statements of the promoter shall be filed with the annual report unless the promoter is not currently employed by the provider.

3. The actuarial study required by section 20-1802, subsection B, paragraph 17 shall be filed by the provider on a triennial basis beginning with the year in which resident occupancy began at the facility or contract holders began receiving services pursuant to the permit issued to the provider. The director may require a provider to file an actuarial study on a more frequent basis if the director deems it necessary and may adjust subsequent triennial filings accordingly.

D. A provider shall not change the fiscal year end date disclosed pursuant to section 20-1802, subsection B, paragraph 4 without the prior approval of the director. The director shall approve the change if the commissioner of the internal revenue service grants a request for a change of a fiscal year pursuant to 26 United States Code section 442.

E. Assets shall be reported at values determined pursuant to sections 20-511 through 20-515. If the director deems it necessary to value any real estate the director may employ one or more competent appraisers for that purpose, and the reasonable expense shall be borne by the provider.

F. The director may assess and collect a civil penalty of not more than twenty-five dollars for each day the annual report is late against a provider who fails to file the annual report timely accompanied by the required fee.