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Legal Update: Document everything

Legal Update: Document everything

ST custerQ. What do I need to know about the updated requirements for Provider Relief Funds? 

A.Suppliers across the country were pleasantly surprised with the release of updated reporting requirements and deadlines in connection with funds received from the CARES Act Provider Relief Fund (PRF). 

With the prior July 1 deadlines looming, suppliers had been increasingly concerned with the reporting burdens and the amount of time available to gather final data and complete the submissions and required attestations.   

Suppliers should review the updated notice and plan now for meeting the reporting requirements as deadlines come closer. We recommend creating a system for reporting that ensures all deadlines are met for each of the reporting periods in which you may have received funds. Further, if you have not already categorized your expenses into those that were permitted by the PRF terms and conditions, now is a good time to start that process. Also, be sure to carefully document lost revenues and discuss with your accountant and attorney your estimated revenue losses and the treatment of significant financial transactions in the reporting time periods in question. When submitting information in the reporting portal, assume that you may be subject to a detailed audit.  Be sure to retain all records and contemporaneously note any key items or facts that may be relevant in a future audit.  

Like all reporting systems you maintain, assume an audit may not happen for years and your organization may have experienced staff turnover and loss of institutional knowledge in the intervening time period. Over-documentation is always preferred. It is much easier to make contemporaneous records than to try to recreate documentation years down the road.

Kelly T. Custer is a shareholder with the Health Care Group at Brown & Fortunato. Reach him at (806) 345-6343 or at [email protected]

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