Updated Provider Relief Fund Reporting Guidance Now Available from HHS

Claire Hilleary, CPA | July 19, 2021

New reporting information is now available for healthcare providers who received funding from the Provider Relief Fund (PRF). The Department of Health and Human Services (HHS) has released revised reporting requirements that include updated information about expanding the amount of time that providers can report on the use of funds, as well as an extension of some key deadlines on when the funds can be spent. Read more.

CARES Act Loans – Correcting Potential Errors

Jessica Bundy | April 28, 2021

The CARES Act included many moving parts and different deadlines related to loans. As a result, many plan sponsors—or their third-party service providers—may have made errors related to participant loans, including missing important cutoff or restart dates. Plan sponsors should work with their service providers to ensure that loans are being administered accordingly—or take advantage of federal self-correcting programs to get retirement plan loans back on track. Read more.

HHS Provider Relief Fund Reporting Updates: Impact of New Requirements

Emily Wilson | January 21, 2021

Healthcare providers have a sense of relief following the announcement from the U.S. Department of Health and Human Services that reporting requirements for Provider Relief Fund (PRF) use of funds were no longer required to be submitted by February 15, 2021. Read more.

HHS Amends Provider Relief Fund Reporting Requirements

Chris Tyhurst | October 28, 2020

On October 22, 2020, the U.S. Department of Health and Human Services (HHS) updated its Provider Relief Fund “Post-Payment Notice of Reporting Requirements.” The most notable change was made to the definition of “lost revenues” attributable to coronavirus. Read more.

Single Audit Compliance: New OMB Guidance Rescinds Some Due Date Extensions

REDW LLC | June 26, 2020

New guidance (M-20-26) issued by the federal Office of Management and Budget rescinds the blanket six-month single audit deadline extension for fiscal year-ends through June 30, 2020 and revises some of the administrative flexibility regarding single audit compliance outlined in previous memos. Read more.

New Relief and Grant Flexibility Under the Uniform Guidance

REDW LLC | March 23, 2020

The Office of Management and Budget (OMB) intends to provide agencies with additional grant flexibility to assist in the response to COVID-19. The new M-20-11 memo defines relief for administrative, financial management, and audit requirements under the Uniform Guidance. We have compiled some major highlights. Read more.

Financial Reporting in the Age of Coronavirus

REDW LLC | March 23, 2020

CFOs should be prepared for an unpredictable year. Disruptions in the supply chain and stock market turmoil will affect the way audit preparation, writing of financial statements, audit fieldwork, and review processes are all conducted. Like other industries, those in financial reporting need to plan for the unknown. Read more.