4658 - Annual statement.
* § 4658. Annual statement. 1. Within four months of close of an operator's fiscal year, unless an extension of time to file has been granted, the operator shall file an annual statement with the commissioner showing the condition as of the last day of the preceding calendar or fiscal year. If the commissioner does not receive the annual statement within four months of the end of the operator's fiscal year or has not granted an extension of time to file, the council may charge a late fee. 2. The annual statement shall be in such form as the council prescribes and shall contain at least the following: a. Any change in status with respect to the information required to be submitted pursuant to section forty-six hundred fifty-seven of this article; b. Financial statements audited by an independent certified public accountant, which shall contain, for two or more periods if the community has been in existence that long, the following: (i) notes to the financial statements considered customary or necessary to ensure full disclosure of the financial statements, financial condition, and operation; and (ii) an accountant's opinion and, in accordance with generally accepted accounting principles: (A) a balance sheet, (B) a statement of income and expenses, (C) a statement of equity or fund balances, and (D) a statement of changes in financial position; c. A detailed listing of the assets maintained for the reserves; and d. Such other reasonable financial and other information as the council may require with respect to the operator or the community, or its directors, controlling persons, trustees, members, branches, subsidiaries or affiliates to determine the financial status of the community and the management capabilities of the operator. 3. Sixty days before commencement of each calendar or fiscal year or official opening date, whichever is applicable, each operator shall file with the commissioner a computation of the annual long-term debt service and a projected annual revenue and expense summary for the next ten years. * NB There are 2 § 4658's