Providers registered in all categories, except providers that are government entities, must use this form to notify the Commission of a change in circumstances relating to financial and prudential matters.

If the change relates to liquidity, then providers must use this form to notify the Commission if all the below applies:

  • the provider is registered in category 6 (residential care)
  • the provider is not a government entity or local government authority
  • the provider is not delivering aged care services through the specialised aged care program NATSIFACP.

Financial and prudential changes may impact on your ability to meet the Financial and Prudential Standards. If you are a registered provider in categories 4, 5 or 6 and the Financial and Prudential Standards apply to you, it is important you ensure you remain in compliance.

The guidance for this smart form does not cover questions, such as those relating to identification or contact details, which are self-explanatory.
 

Section 2: Adverse changes to financial capacity

Your Administration or liquidation contact must be a Responsible Person. Fill out the ‘Adding a Person as a Responsible Person’ form if they are not already in your organisation.

These questions are about requirements detailed in section 167(3)(i) of the Aged Care Act 2024

Question 2.1.3 and 2.1.4

  • Include a detailed description of adverse changes to your financial capacity, the impact on your business operations. This may include:

    • any immediate financial status issues and longer-term sustainability issues
    • any impact on your ability to meet your (evaluated) minimum liquidity amount. Complete Section 3: Change to liquidity, if your (evaluated) minimum liquidity amount is impacted
    • any impact on your ability to refund your refundable deposits to residents.

  • Explain how this change will affect how you deliver current care and services. This should include: 

    • A description on how this change will impact your systems, practices and procedures, and your plan to minimise the impact
    • A description of how you plan to ensure ongoing and long-term financial viability
    • If you are intending on delivering services in Category 6, your answers should cover liquidity, record and disclosure management
  • Provide evidence for practices and procedures for liquidity, record and disclosure management. You may also include attachments to support your response (e.g. a financial audit report, financial governance policy or strategic financial plan)

Section 3: Change to liquidity

These questions are about requirements detailed in section 167(3)(i) of the Aged Care Act 2024

Questions 3.1, 3.2, 3.4 and 3.5

  • Provide details in relation to your current liquidity and the predicted change to your liquidity, including if your ability to meet your (evaluated) minimum liquidity amount is impacted.

  • Outline the reasons for the drop, or predicted drop in liquidity. This may include 

    • Circumstances of your liquidity arrangements, including any financial or contractual arrangements
    • Any changes to any related third-party transactions that impact your liquidity
  • Outline the processes to be implemented and/or planned actions currently being taken to return to your (evaluated) minimum liquidity amount.  

  • Liquidity management strategy

  • Financial documentation such as loan agreement, credit agreement, statements relating to sale of assets, letter of assurance, etc.

  • Any other documents to support your response

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Acknowledgement of Country

In the spirit of reconciliation, the Aged Care Quality and Safety Commission acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, water and community. We pay our respect to their Elders, past, present and emerging and extend that respect to all Aboriginal and Torres Strait Islander peoples. 

Aboriginal and Torres Strait Islander readers are advised that content on this website may contain images of deceased persons.