by Rachel Owens
North Carolina requires program-specific reporting of facilities/homes based on their license. For many facilities this is not a new requirement, however, for adult care, mental health and dual-licensed facilities this is only required every other year. This year is an on year. Compliance with these state requirements fulfill the mandate enforced by the North Carolina General Assembly under General Statute 131 D-4.1-4.3 through the Office of the Controller. Facilities that do not receive funds through State/County Special Assistance are exempt, but all others must complete a cost report. The deadline for which, is just a few short months away – September 30, 2019!
What report is my facility required to file?
Requirements of the statute vary depending on the license and the number of beds in the facility. Facilities with 6 beds or less are required to prepare a cost report only. Facilities with 7 or more beds must complete a cost report and have agreed-upon-procedures performed by an independent CPA. The larger facilities with 31 beds or more have additional requirements for their cost report this year.
There are many factors to consider to determine exactly what is expected of each facility and what period is to be reported. The repercussions of non-compliance of these requirements are suspended admissions or worse! The OOC office anticipates releasing updated cost report information and agreed-upon-procedures in the next few weeks. The healthcare industry continues to be an ever-changing environment and we continue to be on the look out for additional information as the deadline approaches. We would be happy to answer any questions you have and would appreciate the opportunity to serve your organization.