Changes to financial reporting requirements
Home care providers will have new reporting requirements incorporated into the 2021-22 ACFR. This is in response to recommendations from the Royal Commission into Aged Care Quality and Safety to improve accountability and transparency on how providers use subsidy and fees.
The proposed ACFR is available on the Draft Aged Care Financial Report Expenditure Statement 2021-22 webpage.
Feedback on the proposed ACFR is open until 5pm Tuesday 31 August 2021 at: firstname.lastname@example.org.
The department is holding an information webinar on 25 August 2021 to provide further information on the changes to financial reporting requirements and the Program Assurance Reviews.
What is the Aged Care Financial Report?
All approved providers of home care must complete the Aged Care Financial Report (ACFR).
You report home care finances such as:
- income from providing services — including income from fees, subsidies and transfers
- expenses — including wages and salaries, management fees and care-related expenses
- other financial information — including unspent package funds and cash and liquid assets
What you need to do
You must submit an ACFR each financial year by 31 October.
View the user guides and submit the ACFR through the online forms portal.