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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report(Date of earliest event reported): June 18, 1996
Commission file number 0-26980
ARV ASSISTED LIVING, INC.
CALIFORNIA 33-016098
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER IDENTIFICATION NO.)
INCORPORATION OR ORGANIZATION)
33-95712
(COMMISSION FILE NO.)
245 FISCHER AVENUE, D-1 92626
COSTA MESA, CA (ZIP CODE)
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (714) 751-7400
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INDEPENDENT AUDITORS' REPORT
The General Partners of
San Gabriel Retirement Villa:
We have audited the accompanying balance sheets of San Gabriel Retirement Villa
(dba Villa Colima), a California limited partnership, as of December 31, 1995
and 1994 and the related statements of operations, partners' capital and cash
flows for each of the years in the three-year period ended December 31, 1995.
These financial statements are the responsibility of the Partnership's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of San Gabriel Retirement Villa
(dba Villa Colima) as of December 31, 1995 and 1994 and the results of its
operations and its cash flows for each of the years in the three-year period
ended December 31, 1995 in conformity with generally accepted accounting
principles.
/s/ KPMG Peat Marwick LLP
Orange County, California
March 1, 1996
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INDEPENDENT AUDITORS' REPORT
To the Board of Directors of
ARV Assisted Living, Inc.:
We have audited the accompanying historical summary of gross revenue and direct
operating expenses of Nature Trail Retirement Community (Nature Trail) for the
year ended December 31, 1995. This financial statement is the responsibility
of Nature Trail's management. Our responsibility is to express an opinion on
this financial statement based on our audit.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statement is free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in that financial statement. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis
for our opinion.
The accompanying historical summary of gross revenue and direct operating
expenses was prepared for inclusion in the Form 8-K/A of ARV Assisted Living,
Inc. and excludes certain material revenues and expenses, as described in note
2, that would not be comparable to those resulting from the proposed future
operations of the property.
In our opinion, the historical summary of gross revenue and direct operating
expenses referred to above presents fairly, in all material respects, the gross
revenue and direct operating expenses, as described in note 2, of Nature Trail
Retirement Community for the year ended December 31, 1995 in conformity with
generally accepted accounting principles.
/s/ KPMG Peat Marwick LLP
Fort Lauderdale, Florida
June 10, 1996
