The guidance, released Dec. 22, outlines how providers should audit the money received from several bills, including the Coronavirus Aid, Relief, and Economic Security Act and Paycheck Protection Program.
Under the guidelines, providers that received more than $750,000 in grants from the programs will need to conduct a single audit. Most providers received more than this when accounting for all of the programs.
Typically, single audits are due nine months after an organization’s fiscal year ends, but organizations will have three more months to file these single audits if their deadlines were between October 2020 and June 2021.
Providers don’t need to provide a reason for the delayed filing, the budget office said.
More articles on healthcare finance:
Congress passes COVID-19 relief, spending bill: Here’s what hospitals should know
Chicago’s Mercy Hospital can’t close, Illinois regulators say
‘There are bound to be loopholes’: Americans may face unexpected bills with COVID-19 vaccination
