943.02 ACCOUNTING RECORDS AND REPORTING.

   (a)   The Board of Governors shall have primary responsibility for the maintenance of the system of accounting records and reporting. The Board may delegate to the Hospital Chief Executive Officer and such other individuals as it deems necessary, responsibility for the daily operations of the system of accounting records and reporting.

   (b)   The Hospital Chief Executive Officer will maintain a set of books and records on the accrual basis in accordance with American Hospital Association chart of accounts and generally accepted accounting principles and in a manner sufficient to satisfy the reporting requirements of third party payers.

   (c)   The Hospital Chief Executive Officer will prepare and submit all third party reimbursement reports.

   (d)   The Hospital Chief Executive Officer will maintain financial and statistical records sufficient to manage the Hospital in an efficient manner.

   (e)   The Vice-President of Fiscal Services will provide the Director of Finance with all data necessary to maintain the fund accounting records of the City.

   (f)   The Vice-President of Fiscal Services will maintain for the Hospital, in sufficient detail, a revenue, encumbrance, and expenditure accounting system, as applicable, sufficient to monitor the Hospital appropriations.

   (g)   The Vice-President of Fiscal Services will submit to the Director of Finance a monthly income statement, balance sheet and a statement of cash flows for each of the funds maintained by the Hospital as designated by Council ordinance, or as may be required by general law or contractual obligation.

   (h)   Representatives of the Vice-President of Fiscal Services’ staff and the Director’s staff will meet as needed, but not less than quarterly, for the purpose of reconciling the Hospital’s financial records to the City’s financial records and analysis of the Hospital’s monthly financial statements.

   (i)   The Vice-President of Fiscal Services will serve as financial advisor to the Hospital Board of Governors.

   (j)   The Hospital financial records, including all funds related to Hospital operations, may be audited annually by an independent certified public accounting firm selected from a list approved by the State Auditor. The auditing firm will be selected by the Board of Governors and the Vice-President of Fiscal Services based upon review of proposals submitted by the accounting firms. Each proposal shall include the qualifications of the firm as well as the qualifications of the individuals assigned to the audit team. These qualifications should include demonstrated experience in hospital auditing, familiarity with hospital auditing and accounting literature, knowledge of third party cost reimbursement formulas as well as current legislation which might affect hospital cost reimbursement. The auditing firm will be required to provide such consulting services as the Board of Governors and Vice-President of Fiscal Services determines from time to time to be necessary. The Auditor’s report will be submitted to both the Board of Governors and the Vice-President of Fiscal Services. After their review, a copy of the report will be filed with the Clerk of Wooster City Council and the Secretary of the Joint Township Hospital District Board. The Auditor’s management letter will be first submitted to the Hospital Chief Executive Officer for review and then to the Board of Governors and the Vice-President of Fiscal Services with the Hospital Chief Executive Officer’s review comments.

(Ord. 2021-04. Passed 1-19-21.)