New York Laws
Article 46 - Continuing Care Retirement Communities
4607 - Annual Statement.

(i) 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,
(D) a statement of changes in financial position,
(ii) notes to the financial statements considered customary or
necessary to ensure full disclosure of the financial statements,
financial condition, and operation;
c. A detailed listing of the assets maintained for the reserves;
d. A copy of the most recent actuarial review of the community,
including such information as may be required by the superintendent
including an opinion of a qualified consulting actuary, as to the
current and projected soundness of the community, provided however that
a new actuarial review must be submitted triennially; and
e. 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 and superintendent a computation of the annual
long-term debt service and a projected annual revenue and expense
summary for the next ten years.