La. Admin. Code tit. 48 § I-4713

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-4713 - Accounting and Recordkeeping

A. A provider shall establish a system of business management and staffing to maintain separate and complete accounts, books, and records. Fiscal records will be maintained according to generally accepted accounting procedures, sufficient to reflect properly all direct and indirect costs incurred.

1. All transactions and events must be recorded, classified and summarized in appropriate journals; providing chronological records of transaction having a common origin and ledgers of accounts to receive and consolidate transaction amounts related to a given classification.

2. Expenditures must be kept in the following cost categories: Salaries, Fringe, Travel, Operating Services, Supplies, Equipment, Other. The provider will submit a monthly operating statement to the state detailing monthly expenditures by cost category.

3. All records shall be maintained in an accessible, standardized order and format and shall be subject at all reasonable times to inspection and audit by the state agency and the legislative auditor.

4. A provider shall not permit public funds to be paid, or committed to be paid, to any person to which any of the members of the governing body, administrative personnel, or members of the immediate families of members of the governing body, or administrative personnel have any direct or indirect financial interest, or in which any of these persons serve as an officer or employee, unless the services or goods involved are provided at a competitive cost or under terms favorable to the provider. The provider shall have written disclosure of any financial transaction with the facility in which a member of the governing body, administrative personnel, or his/her immediate family is involved.

5. All books, records and other documents relevant to the expenditure of state funds must be retained for six years after final payments.

6. A provider shall have sufficient space, facilities and supplies for providing effective recordkeeping services.

La. Admin. Code tit. 48, § I-4713

Promulgated by the Department of Health and Human Resources, Office of the Secretary, Division of Licensing and Certification, LR 13:246 (April 1987).

AUTHORITY NOTE: Promulgated in accordance with R.S. 46:2125.