Restricted Cash and Equivalents

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

Restricted Cash and Equivalents

NOTE 3. Restricted Cash and Equivalents

The following table presents the Company’s cash and equivalents and escrow deposits:

	December 31,
	2023		2022
	(amounts in $000’s)
Escrow with trustee	$	-	$	2,287
MIP escrow accounts		794		745
Other escrow and debt deposits		737		781
Property tax and insurance escrow		6,842		5,243
Interest and expense reserve bonds escrow		3,924		2,276
HUD replacement reserves		13,288		14,175
Total restricted cash and equivalents	$	25,585	$	25,507

Escrow with trustee - The Company transfers funds to the trustee for its Series C Bonds and Series D bonds to cover principal and interest payments prior to the payment date.

MIP escrow accounts - The Company is required to make monthly escrow deposits for mortgage insurance premiums on the HUD guaranteed mortgage loans.

Other escrow and debt deposits – The Company funds various escrow accounts under certain of its loan agreements, primarily to cover debt service on underlying loans,

Property tax and insurance escrow - The Company funds escrows for real estate taxes and insurance under certain of its loan agreements.

Interest and expense reserve bonds escrow - The indentures for the Series C Bonds and Series D Bonds require the funding of a six-month interest reserve as well as an expense reserve. See Note 7 - Notes Payable and Other Debt.

HUD replacement reserves - The Company is required to make monthly payments into an escrow for replacement and improvement of the project assets covered by HUD guaranteed mortgage loans. A portion of the replacement reserves are required to be maintained until the applicable loan is fully paid.