Now in the second year of the pandemic, the challenges to completing the Consolidated Fiscal Report (CFR) continue. Programs fully or partially closed, staff reassigned, and new programs and services being billed were all part of normal business during 2021. Where to report these changes and how to capture them must be carefully considered. In addition, Paycheck Protection Program (PPP) forgiveness and other stimulus funding, including HHS’s Provider Relief Fund (PRF), may be recognized as income in 2021 financial statements. Ultimately, this funding will be reported on the CFR, which providers need to be planning. Because of a lack of guidance on how funding agencies will use the COVID-19(s) schedules and whether it could affect reimbursement, providers should carefully consider what they're reporting on these schedules. Join BKD Trusted Advisors™ as we share key issues providers should consider when preparing their 2021 CFR.
Upon completion of this program, participants will be able to:
- Discuss challenges and mistakes seen on prior year’s reporting on the New York State CFR
- Identify where the specific revenue and expenses related to program changes and funding are reported on the core CFR schedules and COVID-19 and COVID-19S schedules
- Recognize practical considerations for preparing the current year CFR, including COVID-19 schedules