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Finance Contacts for clients with HCN funding

Finance Contacts for clients with HCN funding. Objective of the session. Understanding: how the funding flows the business rules, important steps and key timeframes how the Lead Agency Manager, Finance Contact and Services Coordinator work together

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Finance Contacts for clients with HCN funding

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  1. Finance Contacts for clients with HCN funding

  2. Objective of the session Understanding: • how the funding flows • the business rules, important steps and key timeframes • how the Lead Agency Manager, Finance Contact and Services Coordinator work together • the purpose and use of the Financial Review form • year-end accrual procedures.

  3. Resources to help • currently these are on the website • they aim to make the processes and requirements clear • have examples

  4. The big picture An approval for clients to receive HCN funding means at least two government agencies have agreed to work together on one plan to significantly change a child or young person’s life. One of the agencies takes the role of Lead Agency. It is usually the agency with the most involvement with the child or young person. The Lead Agency leads the plan, contracts the services coordinator, contracts the providers, and manages the approved funding.

  5. The big picture There is an interagency fund of $4.5m per annum for client financial plans. Only 58% of what is requested is approved. Only 80% of what is approved is spent. Money that is not going to be spent needs to be identified so that we can reallocate it to others – In F08 $2.4m (54% of the total budget) was returned and reallocated. If funding is returned it is available to be reallocated.

  6. Who does what? Lead Agency Manager • is responsible for all finance processes • contracts services to provide the interventions in the interagency plan • contracts the Services Coordinator • is responsible for ensuring reports are completed quarterly on client progress and use of funding.

  7. Who does what? Services Coordinator • coordinates the plan with the interagency team • invoices the Lead Agency for their own services on a monthly basis as per their contract • verifies provider invoices before they are sent to the Lead Agency for payment • completes quarterly reviews of the plan • works with the Lead Agency Manager and the Finance Contact to complete quarterly financial reviews.

  8. Who does what? The finance contact • maintains an individual client financial record • works with the Lead Agency Manager and Services Coordinator • processes invoices from providers • monitors expenditure against the HCN approval • seeks reimbursement from the HCN Unit • helps complete the financial review.

  9. The Business Rules • all plans start on the first of a month • every three months a review is due that includes: • a summary of the client’s progress • a report on the use of funding (Financial Review) • invoices/journals are expected monthly for reimbursement • the HCN Unit will not reimburse invoices that are more than 90 days old • if a review is over a month late, we’ll remind the Lead Agency Manager it is overdue. If it is more than two months overdue, funding will cease • the HCN Unit does not fund retrospectively • the HCN Unit does not fund capital items.

  10. Once a plan is approved • The HCN Unit will send out: • a copy of the plan approval letter • a budget • a Funding Summary (Excel or PDF). • The Lead Agency should then flag or identify in your system that this client has HCN funding. • Use and modify the Excel format of the Funding Summary as your own record.

  11. Finance contacts Need to: • create an individual client financial record • update individual client records when funding changes • record payments against the approval in your own client financial record • invoice/journal the HCN Unit every month for reimbursement • note when reviews are due (these are on the initial approval letter).

  12. Paying Service Providers • providers will be paid by the Lead Agency in accordance with the contracts that are in place • you should follow your organisation’s usual procedures for paying invoices • every month you need to claim reimbursement from the HCN Unit for invoices that have been paid.

  13. Seeking Reimbursement – Child, Youth and Family as Lead Agency • for the Services Coordinator contribution, CYF do not need to seek reimbursement as we automatically credit this to the site • the internal journaling system is used for seeking reimbursement of other service provider invoices that are approved in the plan • details to be included on the journal are identified in the draft finance folder.

  14. Seeking Reimbursement – Education, Health or Disability as Lead Agency • you need to invoice the HCN Unit for reimbursement of all services that are provided to the client which are approved in the plan • you should follow your organisation’s procedures for generating an invoice. Details to be included on the invoice are listed in the draft finance folder • invoices should provide a breakdown of any GST paid.

  15. The Financial Review • is a review and reconciliation of approvals and payments made for the plan • local records need to match HCN Unit’s records • it is completed every quarter of the plan and should be submitted to the HCN Unit with the Plan Review.

  16. The Financial Review Before the financial review: • we will send a Funding Summary 21 days before the review is due • the Services Coordinator needs an interagency team meeting to review the young person’s progress to ascertain the team’s view: whether more, less, or different interventions are needed Then: • the Services Coordinator and Finance contact should complete the financial review.

  17. Section 1 – client details Do your records and HCN Unit records match? (HCN available amount will be on the Funding Summary) Yes – sign and return No – identify the invoices paid that have not been reimbursed and list these on the form

  18. Section 2 – Invoices received by Lead Agency • List details and attach copies of invoices that have been received by the Lead Agency but not yet sent or reimbursed by HCN.Do your records and HCN Unit records match now? • Yes – sign and return • No – what other differences are there?

  19. Section 3 – Reconciliation Summary Identify any other differences/reasons for difference in funding records. Section 4 - Manager sign off

  20. Any further action?

  21. Funding Change Request Form • all funding changes need to come in on the Funding Change Request Form • all funding changes need to be signed by the Lead Agency Manager • this form should be used to request: • new or additional funds • re-phasing of interventions (i.e. didn’t occur as planned, but will occur later) • identify funds not going to be needed for return.

  22. Funding Change Request Form

  23. Year-end procedures • we must be advised about any accruals at the end of the financial year • there is an end-of-financial-year accrual advice form • see the finance contact folder for more detail around accruals and processes for the end of the financial year

  24. Wrap-up Outstanding items What else do you want us to know? Further help – hcn@cyf.govt.nz More information www.hcn.govt.nz

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