In responding to OSC audits, the NYSED’s rate setting unit has been accepting OSC’s findings, claiming they do not have the discretion to reject or modify such findings, pursuant to a lawsuit that occurred several years ago. On October 1st, the Board of Regents adopted a new regulation that would give SED discretion if they believe that the OSC’s findings are not in agreement with SED regulations. The new regulations have been released for public comment and expected to be officially adopted by the Board of Regents at their December meeting.
This is good news for providers, providing SED the discretion to evaluate the appropriateness of SED findings. The New York State Education Department has made the information available here.
If you have any questions, please do not hesitate to call us.
Kenneth R. Cerini, CPA, CFP, FABFA
Ken is the Managing Partner of Cerini & Associates, LLP and is the executive responsible for the administration of our not-for-profit and educational provider practice groups. In addition to his extensive audit experience, Ken has been directly involved in providing consulting services for nonprofits and educational facilities of all sizes throughout New York State in such areas as cost reporting, financial analysis, Medicaid compliance, government audit representation, rate maximization, board training, budgeting and forecasting, and more.