CA SB650

Requires skilled nursing facilities to prepare and file annual consolidated financial reports with the Office of Statewide Health Planning and Development, starting with fiscal years ending December 31, 2023

Consolidated reports must include balance sheets, income/expense statements, patient revenue by payer type, cash flow statements, and combined financial statements from all related entities in which the organization has 5% or more ownership or control interest

Requires reports to be reviewed by a certified public accountant in accordance with generally accepted accounting principles, or audited if an audit was already prepared for any reason

Mandates submission of organizational structure diagrams showing all related parties with 5% or more ownership interest and unrelated vendors paid more than $200,000 annually

Requires the office to post all submitted reports to its internet website as public records and develop policies and procedures for information submission format, though the office is not required to verify accuracy