of the issuance of an Order regarding the Petition for Waiver or Variance, filed on March 9, 2015, by Bruce Leon and Tandem Professional Employer Services, Inc. The Notice of Petition for Waiver or Variance was published in Vol. 41, No. 50, of the ...

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Board of Employee Leasing Companies

RULE NO.:RULE TITLE:

61G7-5.0033Consolidated and Combined Financial Statements

The Board of Employee Leasing Companies hereby gives notice:

Of the issuance of an Order regarding the Petition for Waiver or Variance, filed on March 9, 2015, by Bruce Leon and Tandem Professional Employer Services, Inc. The Notice of Petition for Waiver or Variance was published in Vol. 41, No. 50, of the March 13, 2015, Florida Administrative Register. Petitioner sought a waiver or variance of subsection 61G7-5.0033(4), F.A.C., entitled, “Consolidated and Combined Financial Statements,” which provides that a Florida-licensed employee leasing company, employee leasing company group, employee leasing company groups, or any combination thereof, may submit combined audited or reviewed financial statements to meet the requirements of Section 468.525(3)(e), F.S. as applicable, so long as there are Board-approved cross-guarantees between all employee leasing companies and all entities covered in the combined financial statement are Florida-licensed employee leasing companies; non-licensed entities may not be included in combined financial statements. Petitioner is also seeking a variance or partial waiver of subsection 61G7-10.0015, F.A.C., which provides that an employee leasing company (referenced in this rule “an authorizing employee leasing company”) may satisfy the requirements of its quarterly and annual filing obligations as set forth in Rules 61G7-10.001 and 61G7-10.0011, F.A.C., by being accredited in good standing by the Employer Services Assurance Corporation (ESAC), and by authorizing ESAC to provide the Department, on the licensee’s behalf, certification of compliance and electronic access to information provided to ESAC by the licensee that is consistent with the reporting requirements of Rules 61G7-10.001 and 61G7-10.0011, F.A.C., and is consistent with the requirements of Section 668.50, F.S., (the Florida Uniform Electronic Transactions Act).

The Board considered the instant Petition at a duly-noticed public meeting, held April 15, 2015, in St. Augustine, Florida, and granted the petition with the condition that the approval of the waiver/variance only apply to Petitioners’ use of described combined audited financial statements for 2014 forward, finding that Petitioner had established that the purpose of the underlying statute, Section 468.525(3)(d), Florida Statutes, would be met by granting a variance from Rule 61G7-5.0033, F.A.C. The Board further found that Petitioner established that applying the requirements of the aforementioned rule to their circumstances would violate principles of fairness and impose substantial hardship. The Board’s order was filed on May 27, 2015.

A copy of the Order or additional information may be obtained by contacting: Richard Morrison, Executive Director, Board of Employee Leasing Companies, 1940 North Monroe Street, Tallahassee, Florida 32399-0750.