Restricted Cash and Equivalents

9 Months Ended

Sep. 30, 2024

Cash and Cash Equivalents [Abstract]

Restricted Cash and Equivalents

NOTE 3. Restricted Cash and Equivalents

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

	September 30,		December 31,
	2024		2023
	(amounts in $000’s)
MIP escrow accounts	$	787	$	794
Other escrow and debt deposits		274		737
Property tax and insurance escrow		4,935		6,842
Interest and expense reserve bonds escrow		6,305		3,924
HUD replacement reserves		11,662		13,288
Total restricted cash and equivalents	$	23,963	$	25,585

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 A, C and 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.