N.Y. Comp. Codes R. & Regs. tit. 18, § 488.6 – Resident funds and valuables.

(1) The operator must issue a receipt to a resident for any funds received for:
1. (i) payment of the facility rate;
2. (ii) payment of appropriate supplemental charges;
3. (iii) payment of funds owed to the operator by the resident;
4. (iv) deposits to a personal allowance account established pursuant to section 485.12 of this Title;
5. (v) any other funds held in custody for the resident; and
6. (vi) any other funds received by the operator from the resident.
(2) An operator who receives any funds from a resident must issue a signed receipt to the resident which contains the following information:
1. (i) the date of the receipt;
2. (ii) the amount of funds received;
3. (iii) the purpose of the transaction;
4. (iv) the name of the resident; and
5. (v) the signature of the person receiving the funds.
(3) Notwithstanding paragraphs (1) and (2) of this subdivision, an operator may establish a system other than individual receipts to document the exchange of funds for incidental shopping done for a resident. Such a system must have the prior written approval of the department.
(4) Resident personal allowance accounts or other resident personal funds must not be mingled with the personal funds of the operator or the operating funds of the facility, or become an asset of the operator.
(5) Personal allowance accounts and accounts for other resident personal funds must be separate and distinct from each other and from any other accounts.
(6) Upon change of operator, the current operator must transfer all records to the proposed operator and provide the proposed operator with a written statement of all resident personal allowance accounts, and other resident accounts held in custody for the residents. This statement must document that the balance being transferred in each resident account is true and accurate as of the date of the proposed transfer, and must be confirmed by resident signature(s).
(7) Upon change of operator, the new operator must assume, in writing, responsibility for account balances of funds of residents turned over upon the change of operator, together with responsibility for all requirements of this section.
(8) Records of all transactions must be maintained as part of the enriched housing program records.
(b) Personal allowance.
(1) Each resident who is receiving Supplemental Security Income (SSI) or Home Relief (HR) benefits, and who is entitled to a monthly personal allowance by section 131-o of the Social Services Law or section 352.8(c) of this Title, must receive that allowance in accordance with the requirements of section 485.12 of this Title and subdivision (c) of this section.
(2) In the event that the resident negotiates the full SSI or HR check to the operator, distribution of the personal allowance must be made to the resident within two banking days of the transaction.
(3) The operator must obtain written acknowledgement monthly from each resident, confirming receipt of his/her personal allowance.
(c) Personal allowance accounts.
(1) At the time of admission and at the time of the first increase in the personal allowance occurring in any calendar year, the operator must in writing, offer an SSI or HR recipient or the recipient's representative, if any, an opportunity to place personal allowance funds for incidental use in an enriched housing program maintained account.
(2) The operator must provide for the safekeeping and accountability of a personal allowance account.
(3) The operator must hold personal allowance funds in custody for the sole use of the resident and must not use these funds for any other purpose.
(4) No service fee shall be charged by the operator for maintaining a personal allowance account for a resident who is in receipt of SSI or HR.
(5) Residents must have access to personal allowance accounts at least four hours a day, daily, except Saturdays, Sundays, and legal holidays. The access schedule must be posted and may not be changed without five days advance notice.
(6) Upon request, each resident must have the opportunity, during scheduled access hours, to examine his/her personal allowance account record including deposits, withdrawals and current balance.
(7) If the operator deposits resident personal allowance funds in individual or collective interest-bearing bank accounts, the operator must develop a written procedure for the equitable distribution of interest to each resident's account. Such distribution must be made quarterly.
(8) The operator must maintain individual records for each resident who has a personal allowance account, showing all deposits, withdrawals and the current balance.
(9) The operator must document all personal allowance transactions on department form (DSS-2854), Personal Allowance Ledger, and maintain all paid bills, vouchers and other appropriate payment and receipt documentation in the manner prescribed by the department.
(10) The operator must reconcile personal allowance account balances to the total personal allowance funds maintained by the enriched housing program at least monthly. The reconciliation requirement must be met by maintaining a Personal Allowance Summary (DSS-2855).
(11) No alternative system of recordkeeping for resident personal allowance accounts may be substituted for the above without the prior written consent of the department.
(12) At least quarterly, the operator must give each resident who has a personal allowance account, a statement showing total deposits, withdrawals and current balance of the resident's account and secure the resident's acknowledgement in writing, of the accuracy of the statement.
(13) The operator must not require a resident to maintain a personal allowance account at the facility.
(14) The operator is not required to maintain any personal allowance account in amounts in excess of the SSI resource limit.
(15) The resident may terminate the personal allowance account at any time.
(d) Other funds held in custody.
(1) The operator may offer an SSI or HR recipient or any other resident the opportunity to place funds, other than personal allowance funds provided pursuant to section 485.12 of this Title, in the operator's custody.
(2) Such funds must not be mingled with any personal allowance funds maintained pursuant to subdivision (b) of this section.
(3) The operator must maintain records and provide for the security of all funds which the resident has voluntarily given to the operator and the operator has voluntarily accepted to hold in his or her custody or to exercise control over.
(4) The operator must obtain written authorization from the resident to hold the resident's funds.
(5) Records of all transactions must be maintained as part of the enriched housing program records.
(e) Resident property and valuables.
(1) The operator may offer a resident the opportunity to place property or items of value in the operator's custody.
(2) The operator must maintain inventory records and provide for the security of all property or items of value which the resident has voluntarily given to the operator to hold in custody or to exercise control over.
(3) The operator must obtain written authorization from the resident to hold property or items of value and must provide each resident with a receipt for the items placed with the operator.
(4) Resident property or items of value must be segregated from the assets of the operator.
(5) Records of all transactions must be maintained as part of the enriched housing program records.
(f) Return of resident funds and valuables.
(1) At the time of discharge or termination of the admission agreement but in no case more than three business days after the resident leaves the enriched housing program, the operator must provide the resident or the resident's representative with:
1. (i) a final written accounting of the resident's payment and personal fund accounts;
2. (ii) a check for the outstanding balance, if any; and
3. (iii) any property or things of value held in trust or in custody by the operator.
(2) The operator must refund, in accordance with the admission agreement, any advance payment(s) made by the resident.
(3) The operator must return to the resident, representative or other appropriate individual or agency, any property or items of value of the resident which come into the possession of the operator after discharge or transfer.
(4) Upon the death of a resident, the operator must contact the next of kin or legal representative and arrange for the transfer of all property of the individual. When the whereabouts of the next of kin or legal representative are unknown, the operator must contact the appropriate surrogate's court to arrange for the transfer of the property.

(a) Funds.