Changes for residential and home care providers

The Federal Department of Health is making changes to financial-reporting requirements for residential aged care and home-care package providers.

A single template called the Aged Care Financial Report (ACFR) will consolidate the:

  • Annual Prudential Compliance Statement (APCS)
  • Building activity component of the Survey of Aged Care Homes (SACH), and
  • Home Care Financial Report (HCFR).

A general-purpose financial report will continue to be required, and the ACFR will need to be submitted with the general-purpose report.

Providers are not required to submit an audit opinion with their ACFR.

Providers of home care that do not also provide residential care will not be required to submit a general-purpose report, needing only to complete the home-care section of the ACFR.

Under the new arrangements, the residential-segment format will be replaced by mandated line items at both the approved provider and residential-segment level.  However, providers will be able to include mandated line items in their general-purpose report or ACFR.

The new arrangements are mandatory for all residential and packaged home-care providers in the 2016-17 financial year.  Providers who report on 30 June will submit their new reports by 31 October.

Providers will complete the ACFR online, data to be entered into a new portal.  Residential aged care providers will also upload and submit their audited GPFR through the portal.

Introducing the ACFR will require changes to the Accountability Principles 2014 and the Fees and Payments Principles 2014 (No. 2).  Details of the changes will be available shortly.
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