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Proof of Financial Ability to Operate

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Proof of Financial Ability to Operate

Proof of Financial Ability to Operate



John Folson CPA has several years of experience assisting apllicants seeking a healthcare license from the Florida Agency for Health Care Administration (AHCA). One of the requirements of the application process is to submit a proof of financial ability to operate report prepared by a Certified Public Accoutant CPA  in accordance with GAAP.

The proof of financial ability to operate report is one of the most important parts of the application process. The report primarily consists of financial information for the next twenty four months about the facility such as the size of the facility, list of staff positions required by law and the amount of compensation, operating expenses of the facility, and the source of the revenue.

The proof of financial ability to operate report is an excel based report with about seven tabs, however, not all the tabs have to be completed. The tabs that an applicant has to complete depends on the license being applied for. The proof of financial ability to operate report is very detailed and it must be acurate if not it will be rejected during review. You are not allowed to add or delete rows in the spreadsheet or your application will be rejected and you will be asked to submit another proof of financial ability to operate report using the original spreadsheet without adding or deleting lines.

The State of Florida will typically allow an applicant three chances to rectify any issues uncovered when an application is reviewed.

We have prepared several proof of financial ability to operate reports over the years for applicants all over the State of Florida and we have a near perfect approval rate with for our clients with Agency for Health Care Administration (AHCA).

The fee (cost) for preparing a proof of fiancial ability to operate report starts from $625.00.

Please call our Melbourne, FL office (321) 951-0036 or toll free (877) 640-7368 to inquire about how you may engage our services to prepare a proofo of financial ability report for your application. It does not mater where you live in Florida as long as you have access to a phone or internet we can prepare a report for you.

Before you choose a level of attest service from a CPA , the following will serve as a brief analysis of your options. 

Compilation

A compilation is the lowest level of service that a CPA can perform on financial statements for third parties. Despite it being the lowest level of service, it is a very common deliverable provided by a CPA and an inexpensive solution for many businesses, when required or accepted by third parties. Compilation procedures includes assembling, to the extent necessary, the prospective financial information based on the responsible party's assumptions.

Performing the required compilation procedures, including reading the prospective financial statements with their summaries of significant assumptions and accounting policies, and considering whether the prospective financial statements appear to be presented in conformity with American Institute of Certified Public Accountants(AICPA) guidelines and obviously appropriate.

The compilation procedures are performed without expressing an opinion. The CPA may prepare the financial statements or when they are prepared by the business’ management to make sure that they appear appropriate. Since the CPA does not perform any other procedures he/she does not opine that the financial statements are free of material misstatement. 

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John Folson, CPA. LLC

Certified Public Accountant
129 W. Hibiscus Blvd. Suite Q
Melbourne, FL 32901
Phone: (321) 951-0036

Toll Free: (877) 640-7368
Fax: (866) 243-4101
cpa@edisonaccounting.com

IRS Tax Problems/Help Page                         Wage Garnishment Relief Page

Melbourne, FL CPA 

John Folson, CPA. LLC
129 W. Hibiscus Blvd. Suite Q
Melbourne, FL  32901
Phone: (321) 951-0036 | Fax: (866) 243-4101
cpa@edisonaccounting.com
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