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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.

Resource Information

  • Fiscal Agent Contract: ME170

Additional Reference Information