Prudential Compliance
Protect residents’ money. Prove you can refund every dollar.
Providers holding refundable accommodation deposits have a fiduciary duty to protect those funds and maintain sufficient liquidity to refund them on demand. Statura Care’s Prudential module tracks every deposit, monitors your liquidity position in real time, and ensures compliance across all four Prudential Standards.
The Challenge
Refundable accommodation deposits can represent tens of millions of dollars in liability. If your liquidity falls short and you can’t refund a departing resident, you face immediate regulatory intervention. Tracking deposits, permitted uses, and liquidity ratios across spreadsheets is a risk no provider should take.
Key Capabilities
What the Prudential Compliance module does.
Refundable Deposit Register
Track every RAD, RAC, and bond held with amount, date received, resident, room, interest accrued, permitted uses applied, and current balance. The system calculates balances automatically.
Liquidity Dashboard
Real-time view of your liquidity position: total deposits held vs liquid assets, with a coverage ratio that triggers alerts at watch (1.2—–1.5), warning (1.0—–1.2), and critical (<1.0) levels.
Cash Flow Forecasting
Project refund obligations over 30, 60, 90, and 180 days based on resident profiles. Scenario modelling helps you plan for multiple departures simultaneously.
Permitted Use Tracking
Record every use of refundable deposits for permitted purposes — capital expenditure, debt repayment, working capital, investment — with approval documentation and supporting evidence.
Governance Compliance Checklist
Structured compliance tracking for all four Prudential Standards: Governance, Liquidity, Records, and Disclosure. Track board financial expertise, reporting cycles, independent audits, and risk management.
Prudential Reporting
Generate annual prudential compliance statements, liquidity position reports, deposit reconciliations, and financial governance attestations for ACQSC submission.
Regulatory Requirements
What the law requires.
The Aged Care Act 2024 (Chapter 4) sets specific obligations that this module helps you meet systematically.
Liquidity Requirement
Providers must maintain sufficient liquidity to refund all deposits as they fall due.
Monthly Reconciliation
Deposit registers must be reconciled with financial accounts monthly.
Governance Framework
Documented financial governance framework with board oversight, quarterly reporting, and independent audit.
Disclosure Obligations
Maximum RAD/DAP amounts must be published on My Aged Care. Annual statements provided to each resident.
Works With
Better together.
When modules work together, intelligence compounds. Prudential Compliance integrates with these modules for a complete compliance picture.
Responsible Persons
Governing body financial expertise from the skills matrix displayed as evidence for Prudential Standard 1.
Quality Standards
Prudential compliance feeds into Quality Standard 2 (The Organisation).
Agreements & Consent
Accommodation payment terms in agreements link to deposit records.
Billing & Finance
DAP charges and deposit interest flow into resident billing.
FAQ
Frequently asked questions
What are the four Prudential Standards?
The four Prudential Standards are: Governance (board oversight and financial expertise), Liquidity (ability to refund deposits on demand), Records (accurate deposit registers reconciled monthly), and Disclosure (publishing maximum RAD/DAP amounts and providing annual resident statements).
How does the liquidity dashboard work?
The dashboard shows your total deposits held versus liquid assets in real time, calculating a coverage ratio. Alerts trigger at watch (1.2-1.5), warning (1.0-1.2), and critical (below 1.0) levels — giving you early warning before a liquidity shortfall becomes a regulatory crisis.
What counts as a 'permitted use' of refundable deposits?
Providers can use refundable deposits for permitted purposes including capital expenditure, debt repayment, working capital, and investment. Each use must be documented with approval and supporting evidence. The module tracks every use against the deposit pool to maintain accurate balances.
See Prudential Compliance in action.
Request a personalised demo of the Prudential Compliance module tailored to your organisation.
Free trial includes Compliance Essentials tier (11 modules). No credit card required.
Not sure where to start? Take our free compliance assessment →