Common use of Financial Accounting Requirements Clause in Contracts

Financial Accounting Requirements. The Contractor shall maintain separate accounting records for the Hoosier Healthwise line of business that incorporates performance and financial data of subcontractors, as appropriate, particularly risk-bearing subcontractors. The Contractor’s accounting records shall be maintained in accordance with the IDOI requirements. If the Contractor does not provide Hoosier Healthwise-specific information, FSSA may terminate the Contract. The Contractor shall provide documentation that its accounting records are compliant with IDOI standards. In accordance with 42 CFR 455.100-104, which defines ownership and control percentages and requires disclosure thereof, the Contractor shall notify OMPP of any person or corporation with five percent (5%) or more of ownership or controlling interest in the Contractor and shall submit financial statements for these individuals or corporations.