OIG audits Iowa Foundation for Medical Care
Healthcare Auditing Weekly, October 23, 2007
The OIG posted an audit of the Iowa Foundation for Medical Care (IFMC). The purpose of the audit was to review six fiscal integrity areas requested by the Senate Finance Committee. The OIG focused closely on board member costs. They found the following:
- $208,974 of costs were unallowable for food, equipment purchases, and board member travel costs
- IFMC incurred $530,822 of costs for board member fees, associated board member travel costs, and executive compensation
The OIG recommended the following:
- Refund the costs for unallowable food and equipment
- Reduce the indirect cost pool for chartered air travel costs incurred by board members
- Work with CMS to determine the portion of board member fees, board member travel costs, and executive compensation that should be excluded from the indirect cost pool in order to determine final rates
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