Nebraska Administrative Code
Topic - HEALTH AND HUMAN SERVICES SYSTEM
Title 404 - DEVELOPMENTAL DISABILITIES SERVICES
Chapter 6 - PROVIDER DATA COLLECTION AND REPORTING
Section 404-6-004 - ANNUAL AUDIT OF CERTIFIED PROVIDERS

Universal Citation: 404 NE Admin Rules and Regs ch 6 ยง 004

Current through September 17, 2024

The certified provider must contract with a certified public accountant licensed to practice in the State of Nebraska for an annual independent audit of its financial operations. This audit must be conducted using generally accepted auditing standards acceptable to the Department. A certified provider is exempt from the annual audit requirement described in this paragraph if the certified provider's gross receipts from Medicaid Home and Community Based Services developmental disabilities waiver program payments for its fiscal year are less than $1,500, 000.00. A certified provider must comply with the annual audit requirement for any fiscal year in which its gross receipts from Medicaid Home and Community Based Services Developmental Disabilities Waiver program payments equal or exceed $1,500, 000.00.

004.01 AUDIT REPORT. The certified provider must submit the required audit report, if any, to the Department within 180 calendar days after the end of the provider's first full fiscal year, and for every fiscal year thereafter unless otherwise exempt. At a minimum, the audit report must include:

(A) A review of receipts and disbursements;

(B) A review of cash control procedures;

(C) An audit of the provider's income statement, balance sheet, source, and use of funds statement;

(D) An accounting of all lease agreements and mortgages and, if requested by the Department, a copy of any such documents;

(E) A review of the cash balance on hand at the beginning and at the end of the fiscal year;

(F) A disclosure of all related party transactions, or a statement attesting that no such transactions were found;

(G) A disclosure of all deficiencies in internal control over financial reporting identified during the audit; and

(H) An accounting of all business lines of credit for which the provider is approved at the end of its fiscal year.

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