CMS Pub. 100-16, ch. mc86c18a, § 100

Cost data developed by an HCPP must be current, accurate, and in sufficient detail for

CMS to make a proper determination of the HCPP's costs. Records must be maintained

in a consistent manner from one reporting period to another. However, a proper regard

for consistency need not preclude a desirable change in accounting procedures if the

HCPP makes a full disclosure to CMS of the significant changes in advance and secures

approval for the change.

At a minimum, the following financial records/information must be maintained:

• Matters of ownership, organization, and operation of the HCPP's financial,

medical, and other record keeping systems;

• Financial statements for the current and prior three reporting periods (this will

include such things as management letter comments and access to related

workpapers);

• Federal income tax or information returns for the current and prior three reporting

periods;

• Asset acquisition documents and leases;

• Agreements, contracts, and subcontracts;

• Franchise, marketing, and management agreements;

• Schedules of charges for the HCPP's fee-for-service patients;

• Records pertaining to costs of operations;

• Amounts of income received by source and payment;

• Cash flow statements;

• Any financial reports filed with other Federal programs or state authorities; and

• Minutes from the Board of Directors' meetings taking place during the reporting

period.