2017 Community Health Center Cost Reports Due June 26, Regardless of Fiscal Year End

AAFCPAs would like to make clients aware that the Center for Health Information and Analysis (CHIA) has just announced it is now collecting cost reports for the fiscal year ending in 2017 from all Community Health Centers (CHCs). All CHCs, regardless of Fiscal Year End date, are required to file their fiscal year 2017 cost report by June 26, 2018.

Reporting Requirements

In the past, cost reporting requirements have been on a staggered schedule depending on whether the CHC operates using a fiscal year that ends on June 30th or on another date. CHIA’s goal going forward is to have all CHCs report for the same fiscal year at the same time.
In addition to the 2017 CHC INET cost report filing and financial statements, CHIA is requesting each CHC’s 2016 financial statements in lieu of an INET cost report for 2016.
2017 Community Health Center Cost Report Instructions and INET Instructions are available on the CHIA website at http://www.chiamass.gov/community-health-center-cost-report.
AAFCPAs advises that you not delay, and begin now preparing for your cost report preparation and filing.  AAFCPAs’ Healthcare Practice is available for assistance as needed to efficiently file your cost report accurately and on time.
If you have any questions, please contact your AAFCPA partner, or Matt Hutt, Partner, CPA, CGMA at 774.512.4043, mhutt@nullaafcpa.com.

About the Author

Matthew Hutt CPA
Matt leads AAFCPAs’ Healthcare Division, providing assurance, tax and advisory solutions for Federally Qualified Health Centers (FQHCs), behavioral health providers, home care agencies and hospices, nursing homes, and senior care living centers. Matt advises healthcare providers on consolidation and coordination of care, including the integration of behavioral health into the primary care delivery system. He also provides consulting solutions for providers transitioning to new value-based reimbursement models, and data driven patient care, including: developing business process and controls for collecting and advantaging data to provide analysis on: provider activity, delivery of care, and analysis of efficiency & cost effectiveness. Matt is also highly-sought after for his knowledge on issues related to affordable housing developers with requirements related to the US Department of Housing and Urban Development, MassHousing, Low Income Housing Tax Credits, Historical Tax Credits and New Markets Tax Credits.