Trust Funds

317:30-5-125.

When a new recipient is admitted to a nursing facility, the administrator will complete and send to the county office the Management of Recipient’s Funds (08MA085E) form to indicate whether or not the recipient has requested the administrator to handle personal funds.  If the administrator agrees to handle the recipient’s funds, the Management of Recipient’s Funds 08MA084E form will be completed each time funds or other items of value, other than monthly income, are received.

• By using the Management of Recipient’s Funds form as a source document, the facility personnel will prepare a Ledger Sheet for Recipient’s Account in a form acceptable to the Authority, for each recipient for whom they are holding funds or other items of value.  This form is used to keep an accurate accounting of all receipts and expenditures and the amount of money on hand at all times.  This form is to be available in the facility for inspection and audit.  The facility must have written policies that ensure complete accounting of the recipient’s personal funds.  All recipient’s funds which are handled by the facility must be clearly identified and maintained separately from funds belonging to the facility or to private patients.  When the total sum of all funds for all recipients is $250.00 or more, they must be deposited by the facility in a local bank account designated as “Recipient’s Trust Funds.”  The funds are not to be commingled with the operating funds of the facility.  Each resident in an ICF/MR facility must be allowed to possess and use money in normal ways or be learning to do so.
• The facility is responsible for notifying the county office at any time a recipient’s account reaches or exceeds the maximum reserve. The 08MA085E form is also prepared by the facility when the recipient dies or is transferred or discharged, and at the time of the county eligibility review of the recipient.
• When the ownership or operation of the facility is discontinued or where the facility is sold and the recipients’ trust funds are to be transferred to a successor facility, the status of all recipient’s trust funds must be verified by the Authority and/or the buyer must be provided with written verification by an independent public accountant of all residents’ monies and properties being transferred, and a signed receipt obtained from the owner.  All transfers of recipient’s trust funds must be acknowledged, in writing, by the transferring facility and proper receipts given by the receiving facility.
• Unclaimed funds or other property of deceased recipients, with no known heirs, must be sent to the Property Services Division at Oklahoma Health Care Authority 4345 N. Lincoln Blvd. Oklahoma City, Oklahoma 73105 any funds left over would be reported to the Oklahoma Tax Commission.
• It is permissible to use an individual trust fund account to defray the cost of last illness, outstanding personal debts and burial expenses of a deceased recipient of this Authority; however, any remaining balance of unclaimed funds must be reported to the Oklahoma Tax Commission.  The Unclaimed Property Division, Oklahoma Tax Commission, State Capitol Complex, Oklahoma City, Oklahoma, is to be notified for disposition instructions on any unclaimed funds or property.  No money is to be sent to the Oklahoma Tax Commission until so instructed by the Unclaimed Property Division.
• Books, records, ledgers, charge slips and receipts must be on file in the facility for a period of six (6) years and available at all times in the facility for inspection and audit purposes.