Common use of Contract Reconciliation Clause in Contracts

Contract Reconciliation. Upon conclusion of each fiscal year of this Agreement, a final contract reconciliation shall be completed as a net cost settlement wherein the Medicaid subcapitated funding and SUD funding prepaid by the Payor to the Provider, and the total of the Provider’s expenditures pursuant to this Agreement shall be reviewed and reconciled in direct accordance with the service and financial provisions hereunder in order to assure that the Payor’s payments to the Provider have not exceeded the Payor’s obligations under this Agreement. Said fiscal-year contract reconciliation of this Agreement shall be completed annually in full compliance with MDHHS requirements and in accordance with the revenue and expenditure reconciliation process and requirements of the MDHHS/PIHP Contract, except that Medicaid funds unexpended by the Provider under this Agreement shall be returned to the Payor. Thereto, the revenue and expenditure reconciliation process and requirements for said fiscal year contract reconciliation of this Agreement on a net cost settlement basis shall meet the MDHHS’s financing, accounting, and reporting requirements of the PIHP as specified in Financial Reporting Forms and Instructions of the MDHHS/PIHP Contract. The contract reconciliation for each fiscal year under this Agreement shall be completed in accordance with the following procedures:

Contract Reconciliation. Upon conclusion of each fiscal year of this Agreement, a final contract reconciliation shall be completed as a net cost settlement wherein the Medicaid subcapitated funding and SUD funding prepaid by the Payor to the Provider, and the total of the Provider’s expenditures pursuant to this Agreement shall be reviewed and reconciled in direct accordance with the service and financial provisions hereunder in order to assure that the Payor’s payments to the Provider have not exceeded the Payor’s obligations under this Agreement. Said fiscal-year contract reconciliation of this Agreement shall be completed annually in full compliance with MDHHS requirements and in accordance with the revenue and expenditure reconciliation process and requirements of the MDHHS/PIHP Contract, except that Medicaid funds unexpended by the Provider under this Agreement shall be returned to the Payor. Thereto, the revenue and expenditure reconciliation process and requirements for said fiscal year contract reconciliation of this Agreement on a net cost settlement basis shall meet the MDHHS’s financing, accounting, and reporting requirements of the PIHP as specified in Financial Reporting Forms and Instructions of the MDHHS/PIHP Contract. The contract reconciliation for each fiscal year under this Agreement shall be completed in accordance with the following procedures: