2014 Uniform Financial Reporting
On August 28th, AAF held a UFR Update webinar for more than 80 registered viewers. Our presenter, Robin Kelley, CPA, provided the participants with an update of the impact of Chapter 257 on the UFR and the new reporting requirements as well as discussion of risk areas and surplus revenue retention management. If you missed the webinar, here is a summary of the new reporting requirements in the 2014 UFR preparation manual:
- Salary Survey: the Executive Office of Health and Human Services (EOHHS) requires POS providers to complete a Staff Salary Snapshot report to assist EOHHS with setting and reviewing regulated rates. The Staff Salary Snapshot report is due by November 15 each year regardless of your fiscal year end. The submission is done separately from the UFR filing and should be sent firstname.lastname@example.org. The spreadsheet, frequently asked questions and other info related to this reporting requirement can be found at http://www.mass.gov/eohhs/provider/contracting/salary-snapshot-report.html
- Supplier Diversity Program (SDP): POS providers are also required to upload an annual SDP with their UFR submission or an exemption request. Failure to submit the SDP Form will impact the process of contracting with the state and the renewal of current contracts. The SDP Form can be found online on the Uniform Financial Report Resource Center website.
For Day Habilitation Programs, the Center for Health Information and Analysis (CHIA) has issued specific UFR reporting requirements for day habilitation providers via email in addition to the specific instructions in the UFR manual. If you are operating a Day Habilitation Program, you may want to review the email andUFR preparation manual in detail prior to preparing the UFR.
Additionally if you have a Caring Together contract with the state, you should have received some clarifying information regarding how and what to group together on the Schedule B of the UFR. Please be sure to read through that information to make sure you are gathering and combining costs appropriately.
For more information, please contact your AAF Partner, or Robin Kelley, at 774.512.4011 email@example.com.
Alexander Aronson Finning CPAs is the premier CPA and consulting firm based in New England. AAF has been dedicated to service excellence since its founding in 1973. Our growing team of 170+ service professionals provides best-value audit, tax, consulting, and IT advisory solutions for nonprofit organizations, commercial companies, wealthy individuals and estates. We also work with public companies who appreciate exceptional value, providing them with non-attest services and employee benefit plan audits.
AAF is an independent member of the BDO Alliance USA. This provides our clients with seamless national and global reach and full access to the resources of the fifth largest CPA firm in the world. Our pay as you use model is recognized as the best of both worlds by our diverse client base who consider us an attractive alternative to the Big 4 and national firms. Please visit www.aafcpa.com for more information.