Implementation of Quarterly Operator Financial Statements

||Implementation of Quarterly Operator Financial Statements

On March 6, 2015, Tim Gruenes, Director of Asset Management, Office of Residential Care Facilities, at HUD released a memo to all section 232 lenders/servicers, borrowers and operators.

Summary:

  • Quarterly balance sheets and income statements are required for all Section 232 FHA-insured projects.
  • If you operate on a calendar year, the reports must be sent to the Lender (via the online 232 Healthcare Portal or email) by May 31 for the first quarter of 2015.
  • The financial statements should be quarterly fiscal year-to-date and reflect operations at the facility level.
  • You will receive an email by March 9th to register for an online training about the 232 Healthcare Portal that may be used to submit the financial statements.

To read the entire memo, click the image below. Please contact financialstatements@lovefunding.com to learn more.

232-Operator-Financial-Statements-Memo-3-6-2015

Click to Learn More

Contact Us

Love Funding Asset Management
Phone: 844.344.LOVE
Email: financialstatements@lovefunding.com

2015-03-06T21:36:09+00:00 Industry News|