How do I determine my Annual Financial Statement (AFS) reporting period?

The reporting period is determined by the date the licensee was issued its first medical license. The AFS report must cover all medical licenses held by the licensee at any time during the reporting period. Refer to the chart and examples below for more details:

Initial Licensure

Number of Reports Due

Reporting Period(s)

AFS Due

July 2018

1

August 1, 2019 - June 30, 2020

October 31, 2020

August 2018

2

August 1, 2018 - June 30, 2019

July 1, 2019 - June 30, 2020

October 31, 2020

October 31, 2020

September 2018

2

August 1, 2018 - June 30, 2019

July 1, 2019 - June 30, 2020

October 31, 2020

October 31, 2020

October 2018

2

October 1, 2018 - September 30, 2019

October 1, 2019 - September 30, 2020

October 31, 2020

January 31, 2021

November 2018

2

October 1, 2018 - September 30, 2019

October 1, 2019 - September 30, 2020

October 31, 2020

January 31, 2021

December 2018

2

October 1, 2018 - September 30, 2019

October 1, 2019 - September 30, 2020

October 31, 2020

January 31, 2021

January 2019

February 2019

March 2019

1

January 1, 2019 - December 30, 2019

October 31, 2020

April 2019

May 2019

June 2019

1

April 1, 2019 - March 30, 2020

October 31, 2020

July 2019

August 2019

September 2019

1

July 1, 2019 - June 30, 2020

October 31, 2020

October 2019

November 2019

December 2019

1

October 1, 2019 - September 30, 2020

January 31, 2021

Example #1:

A licensee holds the following licenses:

  • Processor - Issued 9/25/2019
  • Grower Class C - Issued 3/20/2020
  • Grower Class C - Issued 3/20/2020
  • Grower Class C - Issued 5/17/2020
  • Provisioning Center - Issued 7/09/2020

The reporting period is determined by the date the licensee was issued its first medical license. In this case, the processor license was the first license to be issued to the licensee, which was on 9/25/2019. Based on the reporting period chart, one AFS report is due for Fiscal Year 2020:

  • The AFS report should cover the reporting period for July 1, 2019 - June 30, 2020.
    • The report should cover all the medical licenses held by the licensee during the reporting period. The licenses for the Processor (issued 9/25/19) and all Grower Class C's (issued 3/20/20 & 5/17/20) would need to be included in the AFS report. This is because the licensee held those licenses during the reporting period.
    • The Provisioning Center license (issued 7/09/20) would not be included in the AFS report for FY20 because the license was not held during the reporting period.
    • Any adult-use establishment licenses held by the licensee would not be included in the AFS report.

Example #2:

A licensee holds the following licenses:

  • Grower Class C - Issued 8/08/2018
  • Processor - Issued 10/10/2018
  • Provisioning Center - Issued 2/22/2019
  • Provisioning Center - Issued 10/30/2019
  • Grower Class C - Issued 4/14/2020
  • Grower Class C - Issued 7/09/2020

The reporting period is determined by the date the licensee was issued its first medical license. In this case, the Grower Class C license was the first license to be issued to the licensee, which was on 8/08/2018. Based on the reporting period chart, two AFS reports are due for Fiscal Year 2020:

  • The first AFS report should cover the reporting period for August 1, 2018 - June 30, 2019.
    • The report should cover all the medical licenses held by the licensee during the reporting period. The licenses for the Grower Class C (issued 8/08/18), Processor (issued 10/10/18), and Provisioning Center (issued 2/22/19) would need to be included in the first AFS report. This is because the licensee held those licenses during the reporting period.
    • The licenses for the Provisioning Center (issued 10/30/19), Grower Class C (issued 4/14/20) and Grower Class C (issued 7/09/20) would not be included in the first AFS report because the licenses were not held during the reporting period.

 

  • The second AFS report should cover the reporting period for July 1, 2019 - June 30, 2020. 
    • The report should cover all the medical licenses held by the licensee during the reporting period.  The licenses for the Grower Class C (issued 8/08/18), Processor (issued 10/10/18), Provisioning Center (issued 2/22/19), Provisioning Center (issued 10/30/19), and Grower Class C (issued 4/14/20) would need to be included in the second AFS report. This is because the licensee held those licenses during the reporting period.
    • The Grower Class C license (issued 7/09/20) would not be included in the second AFS report because the license was not held during the reporting period.
    • Any adult-use establishment licenses held by the licensee would not be included in the AFS report.