Overall Plan, Annual Operating Budget, and Capital Expenditure Plan
Sets out how the Agency, under the direction of the governing body, prepares an overall plan and budget that includes an annual operating budget and a capital expenditure plan for at least a 3-year period, through a committee of the governing body, administrative staff and medical staff (if any), and reviews and updates them at least annually, as 42 CFR §484.105(h) requires; and how fiscal records are kept for Michigan Medicaid review.
About this policy
- Policy number
- MI-HH-BUS-01
- Version
- 1.0
- Main rule
- 42 CFR §484.105(h)
- Library
- Michigan home health · 57 policies
- Category
- Business
- Sections
- 16
In short
- The Agency plans its services and money each year under the governing body’s direction.
- There is an annual operating budget and a capital plan covering at least 3 years.
- The plan and budget are reviewed and updated at least once a year.
- Financial records are kept so Medicaid and other reviewers can check them.
What's inside
16 sections. The full text comes with the One-time Policy Pack.
- Terms of Reference
- 1. Purpose
- 2. Scope
- 3. Definitions
- 4. Policy Statement (42 CFR §484.105(h))
- 5. Planning and Budget Committee
- 6. Content of the Overall Plan and Budget
- 7. Approval, Monitoring, and Annual Update
- 8. Fiscal Records
- 9. Responsibilities
- 10. Records and Compliance Monitoring
- 11. Staff Training
- 12. References
- 13. Related Policies and Forms
- 14. Approval
- 15. Revision History
An inspector may ask
- Show me your overall plan and annual operating budget. Who prepared them, and when were they last reviewed?
- Do you have a capital expenditure plan covering at least 3 years?
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