AUTHORITY: Implementing and authorized by Section 25 of the Hospital Basic Services Preservation Act [20 ILCS 4050/25].TREASURER
a) Submit documentation that the expenses for which the loan was granted were approved by the Illinois Health Facilities Planning Board (HFPB) in accordance with Section 15(a) of the Act [20 ILCS 4050/15(a)] and the Hospital Basic Services Review Board in accordance with Section 15(b) of the Act [20 ILCS 4050/15(b)].
b) File quarterly reports with the Treasurer. The reports shall include a cash basis statement of expenditures for the loan proceeds, a loan payment history, and the current loan balance. The cash basis method recognizes revenues and expenses at the time physical cash is actually received or paid out.
Each hospital receiving a loan collateralized under the Act shall: