Common use of Cost Reporting Clause in Contracts

Cost Reporting. The Contractor must submit annual financial cost reports based on the state’s fiscal year which begins October 1 and ends September 30 in the following calendar year. The reports must contain the actual costs incurred by providers in delivering services required in this contract to MDHHS clients for the reporting period. Costs for non-MDHHS youth are not to be included. Reports will be submitted using a template provided by MDHHS. The financial reports must be submitted annually, and will be due November 30 of each fiscal year. The Contractor must comply with all other program and fiscal reporting procedures as are or may hereinafter be established by MDHHS. Reports must be submitted electronically to MDHHS-Xxxxxx-Care- Xxxxxx@xxxxxxxx.xxx with the subject line: RFCAN Cost Report. Failure to meet reporting responsibilities as identified in this contract may result in MDHHS withholding payments until receipt of annual financial cost report. MDHHS may withhold from current payments an amount equal to five percent of the Contractor’s reporting year MDHHS revenue (not to exceed $60,000) until the required filing is received by the Department. MDHHS may retain withheld funds as a penalty if delinquency reaches sixty (60) days past due. MDHHS may terminate the contract if the Contractor is ninety (90) days delinquent in submitting the required annual financial cost report.

Cost Reporting. The Contractor must submit annual financial cost reports based on the state’s fiscal year which begins October 1 and ends September 30 in the following calendar year. The reports must contain the actual costs incurred by providers in delivering services required in this contract to MDHHS clients for the reporting period. Costs for non-MDHHS youth are not to be included. Reports will be submitted using a template provided by MDHHS. The financial reports must be submitted annually, and will be due November 30 December 15th of each fiscal year. The Contractor must comply with all other program and fiscal reporting procedures as are or may hereinafter be established by MDHHS. Reports must be submitted electronically to MDHHS-Xxxxxx-Care- Xxxxxx@xxxxxxxx.xxx with the subject line: RFCAN RFCJJ Cost Report. Failure to meet reporting responsibilities as identified in this contract may result in MDHHS withholding payments until receipt of annual financial cost report. MDHHS may withhold from current payments an amount equal to five percent of the Contractor’s reporting year MDHHS revenue (not to exceed $60,000) until the required filing is received by the Department. MDHHS may retain withheld funds as a penalty if delinquency reaches sixty (60) days past due. MDHHS may terminate the contract if the Contractor is ninety (90) days delinquent in submitting the required annual financial cost report.