March 29, 2024 —In the ever-evolving landscape of senior living, maintaining financial stability is paramount. It’s not just about providing exceptional care and amenities; it’s also about ensuring that the financial foundation remains solid to support long-term sustainability. In this regard, Kendal at Lexington is thrilled to share that we have achieved the A.V. Powell & Associates (AVP) exemplary recognition seal for being in Satisfactory Actuarial Balance for 2023.
The AVP exemplary recognition seal is a prestigious acknowledgment within the senior living industry. It signifies that a community has demonstrated prudence, foresight, and effective management in maintaining a balanced actuarial position.
But what does it mean to be in Satisfactory Actuarial Balance, and why is it so crucial for retirement communities?
Actuarial balance refers to the equilibrium between a community’s financial assets and its projected liabilities, particularly in relation to residents’ long-term care needs and operational expenses. Achieving satisfactory actuarial balance is a delicate balancing act that requires careful financial planning, risk assessment, and strategic decision-making.
For Kendal at Lexington, this recognition is the result of years of diligent financial management and adherence to best practices in the industry. Moreover, being in Satisfactory Actuarial Balance enhances residents’ confidence in the stability and continuity of services provided by Kendal at Lexington.