Finance and Banking Operations (FBO)

The FBO Unit is responsible for:

Overseeing the management of and monitor the financial and banking functions of the fiscal agent to ensure appropriate payment ($20+ billion) of Medicaid claims.
Coordinating all federal IRS tax reporting efforts for payments made to providers.
Oversight of the retroactive rate adjustment process to ensure appropriate payment to facilities.
Assisting in the development of audit programs relating to fiscal agent operations and review audit engagements, prepare findings and review responses to findings.
Conducting routine or special independent audits of all processes/parties involved in Medicaid claims processed by the fiscal agent to determine compliance with Medicaid program policy.
Executing and managing all contract amendments for the Medicaid fiscal agent.