|Title:||Bank Accounts - Patients' Private Property|
|Document ID:||Administrative Circular A 6620|
|Date of issue:||Wednesday, 23 September 1987|
|Status:||NO LONGER APPLICABLE|
|Applicable to:||General Medical Units, Psychiatric Service Units|
|Print version:||View print version|
|To be read in conjunction with:||
Bank Accounts - Patients' Private Property
For some time now it has been apparent that the past practice of crediting interest earnings derived from long-term patients' cash balances to accounts other than individual patients' accounts has not been appropriate. The Department has, therefore, been examining ways of overcoming this problem.
Following considerable investigation, and bearing in mind the need to minimise the associated workload on hospital staff, it is considered that the most appropriate means of resolving the legal issues involved is by use of non-interest bearing accounts. It will therefore be necessary for those Service Units holding funds for long-term patients to enter into arrangements with their banks to utilise this type of account.
As a first step in converting to the new scheme, where a long-term patient holds funds in excess of $400,that excess should be deposited in an interest bearing account in the patient's name, subject of course to the patient's approval. This will enable any interest so derived to be credited to that person's account. The balance of up to $400 should be held in a non-interest bearing account in the hospital's name.
Following this initial step and to avoid an increase in work-load, the non-interest bearing account can be permitted to accumulate up to $800 for individual patients before a further transfer of surplus funds (over $400) has to be effected.
Some patients may, for personal reasons, prefer not to have an interest bearing account opened in their name. Should this situation arise, those patients should be asked to sign a letter addressed to the Administrator/Co-ordinator authorising retention of funds in the Hospital's non-interest bearing account. This letter should be retained for audit purposes.
Where the patient is considered by a medical practitioner to be incapable of maintaining his/her financial affairs, funds in excess of $400 should be forwarded to the Public Trustee for investment on behalf of the patient.
Commissioner of Heal - -
This circular last updated: Wednesday, 23 September 1987 at 12:00am