This fund holds assets belonging to residents at the Utah State Hospital for their personal expenditures.
During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $1,156,400 from all sources for State Hospital Patient Trust Fund. This is a 0 percent change from Fiscal Year 2015 revised estimated amounts from all sources.
There are no fund-specific reports. Due to the fiduciary nature of this fund, the Analyst recommends the fund be reported annually to the Social Services Appropriations Subcommittee and be included in an annual appropriations act.
The Social Security Administration performs audits every three years as part of its oversight responsibility. The most recent audit was in May 2013. The Social Security Administration reported no items needing correction. Federal regulations governing organizational payees cover topics such as: 1) the role and duties of a representative payee, 2) limits to what a payee may do, 3) the proper and improper uses of benefits, and 4) managing and conserving funds.
The balance of the fund is currently made up of cash. The largest amounts of money flowing into the account are deposited assets of resident clients of the Utah State Hospital. Interest is also credited to client's accounts. Expenses are solely for resident client personal needs such as: 1) health and hygiene items, 2) clothing, 3) convenience items, 4) transportation expenses, and 5) hobby and craft items.
COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.