As an approved provider, Estia Health has certain obligations under the Financial and Prudential standards as outlined in the Aged Care Act.
The Act has strict rules about the management of money paid as a Refundable Accommodation Deposit (RAD) including what we as providers are able to use the money for.
Providers have requirements around providing financial reports confirming that we comply with these requirements.
Should you require it, you may request a copy of the following information:
- A summary of the permitted uses for which refundable deposits and bonds have been used during the previous financial year
- If we have been required to submit it to the Department, a permitted uses reconciliation
- Information as to whether we have complied with the sections of the Act that relate to our use of refundable deposits and whether they were refunded in accordance with the Act
- If we are required to implement and maintain a written investment management strategy under the Financial and Prudential standards, then you may request us to provide our investment objectives
- A copy of the audit opinion referred to in section 166-380(f) of the Aged Care Rules for the previous financial year
- Our most recent statement of the audited accounts
- The most recent audited general purpose financial report
If you have paid an RAD, you will see the balance of this on your monthly statement, and we will also give you a copy of this at the end of the financial year. However, you may request a copy of the RAD statement that relates to you at any time.
Any of this financial information requested will be provided within 7 days of request, as per the requirements of the Aged Care Act.
We are committed to transparency in our financial management and are happy to discuss any questions you may have.
