Changes to financial and prudential matters apply to every registered provider, except government entities.
Liquidity changes only apply to providers in Category 6 that aren’t:
- a government entity or a local government authority
- providing aged care services through National Aboriginal and Torres Strait Islander Flexible Aged Care Program.
Providers must notify us of changes to specified financial and prudential matters.
Financial and prudential matters
Changes to financial and prudential matters are any change to your capacity to deliver funded aged cares services. This includes:
- being unable to pay the entitlements of your aged care workers
- any change that significantly affects an existing or anticipated revenue source
- any time you can’t pay your debts when they become due.
Changes to liquidity are any circumstance when you can’t maintain, or are at risk of not maintaining, your default minimum liquidity amount or your evaluated minimum liquidity amount for a quarter.
Notifying us of changes to financial and prudential matters
To notify us of specified financial and prudential matters you must complete the:
- Change in circumstance notification form
- Financial and Prudential matters form.
You can find these forms on Applications, requests and notifications.
When completing the forms use the Change in Circumstance Guidance. It outlines what evidence and supporting documents you’ll need to attach.
Your notification must include:
- the type of change
- the date of the change
- if you’re notifying adverse (negative) changes to financial capacity, you must also provide:
- details of the change
- details of the administration or liquidation contact person
- type of administration
- if you’re notifying a change to liquidity, you must also provide:
- details on your current liquidity
- details on your predicted liquidity
- reason for the drop or predicted drop in liquidity
- your plan for returning to your evaluated minimum liquidity amount.
