§ 27-19-15 - Agreement on budgets.
SECTION 27-19-15
§ 27-19-15 Agreement on budgets. –(a) The budgets and/or each hospital's projected expenses and relatedstatistics shall be agreed upon not later than thirty (30) days prior to thebeginning of each hospital fiscal year. The agreement shall be prima facieevidence that the budgets and related statistics are:
(1) Consistent with the proper conduct of the business of thecorporations and the interest of the public to the extent that the budgetsconstitute in the aggregate a component of hospital service rates filed forapproval in any rate hearing; and
(2) Reasonable as a component of rates paid by the state as apurchaser of hospital services.
(b) Each hospital shall file its proposed budget to the statebudget office which shall include projected expenses for the current fiscalyear and planned expenses for the next fiscal year. Each hospital will alsofile with the state budget office a copy of its audited financial statementswith rates within thirty (30) days of acceptance by the hospital's board oftrustees. The provisions of this section shall not apply and shall be repealedupon the implementation of amendments and new methodology pursuant to§§ 40-8-13.3 and 40-8-13.4, but in any event no later than March 30,2010.