What is the minimum amount that must be held in residence funds?

The minimum amount that must be held in residence funds is $25. This requirement serves several essential purposes in the context of residential care and assisted living facilities. It ensures that residents have access to a small amount of money for personal expenses, which may include things like purchasing snacks, toiletries, or other personal items that may not be provided by the facility.

This minimum amount is designed to balance the needs of residents with the financial management aspects of running a care facility. By establishing a specific minimum, it creates a standard that can help in budgeting and ensuring that each resident has a basic level of financial liquidity available to them, aiding in their autonomy and quality of life within the care setting.

In summary, the requirement to maintain a minimum of $25 in residence funds helps to promote personal financial independence for residents while ensuring they have sufficient funds available for their immediate needs.