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OPC <br /> Area Program Kathleen Bucher Interim Finance Director Phone (919) 913 4137 Fax (919) 913 4086 e-mail kbucher@ope-nihe.org <br /> 100 Europa Dr. Suite 490 <br /> Chapel Hill, NC 27517 <br /> To : OPC and LME Boards <br /> From : Kathleen Bucher, Interim Finance Officer <br /> Date : July 19 , 2005 <br /> Subject : Financial Status Report <br /> A final amended budget for fiscal year 2004 — 2005 is attached . A number of factors make this revision <br /> necessary, primarily a late-year flurry of new allocations, realignments of UCR to non-UCR funds, and the <br /> usual June/July increase in claims for contracted services and the corresponding Medicaid revenue . Since <br /> there is so much activity affecting year- end results that occurs in July, we have not yet prepared the June <br /> financial statements . I hope to have preliminary results by the time of the Board meeting . <br /> The fiscal year ended with an influx of cash, primarily from DMH . As of the end of the first week of July, <br /> we had received all of the anticipated revenue from DMH, including the LME administrative payment . <br /> Subsequently, we received a memo informing us that in the future the LME payments will be made one <br /> month behind, so we can anticipate July ' s payment sometime in August . <br /> We have begun the audit process with Dixon Odum for fiscal year 2005 . The auditors were on site the <br /> second week in July to do preliminary fieldwork, and will return in early September to do the final <br /> fieldwork. This should give time to complete the preparation of audited financial statements by the <br /> deadline . <br /> Providing mental health, developmental disabilities and substance abuse services in <br /> Orange , Person, and Chatham Counties <br />