Michigan § 554.943 - Financial forecast.
Full text of Michigan Michigan Compiled Laws § 554.943 — Financial forecast., with citation guidance and answers to common questions.
§ 554.943. Financial forecast.
A pro forma financial plan shall include a financial forecast for a period of 3 years, presented on the same accounting basis as the financial statements, including all of the following:
(a) A balance sheet.
(b) A statement of changes and activities or statement of operations.
(c) A statement of cash flow.
(d) Expected cash proceeds from sales of continuing care agreements based on projected occupancy and attrition rates.
(e) Expected cash proceeds from monthly service fees, donations, interest, and entrance fees.
(f) Amount of reserves expected to be provided for capital replacement, improvements, maintenance, refunds, and other expenses.
(g) A statement of assumptions and principles used to make the forecast.
Frequently Asked Questions About Michigan § 554.943
What does Michigan Compiled Laws § 554.943 cover?
Section 554.943 ("Financial forecast.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 554.943?
A common citation format is "Michigan Compiled Laws § 554.943" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 554.943 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.