TRENTON – An audit released Wednesday of the Veterans Memorial Home at Paramus recommended ways to reduce delinquent accounts that as of April 30, 2012 totaled $1.3 million.
In general, the N.J. Auditor’s report found that financial transactions at the home of 324 residents were reasonable.
However, the auditor disclosed in one category that 74 residents were not receiving a particular pension, Aid and Attendance Improved Pension, and they potentially were eligible to receive it. If those residents ended up receiving the maximum benefit, that would generate $1.2 million a year in increased revenue.
The home in Paramus as of May 31, 2012, had annual general fund revenues of $18.6 million and expenditures of $34.2 million, according to the audit.
In another area, the audit found a variance of $300,000 between the resident bank account system maintained by the home and a Health Care Information System. The report said the veterans home should investigate and reconcile the difference between residents’ funds and the institution’s accounts.
In its response to the audit, the veterans home said it took steps to deal with the findings.
For one thing, it addressed delinquent accounts that were pointed out by the audit, and said that led to a 25 percent increase in accounts now being handled by a representative payee.