Common use of Contract Reconciliation Clause in Contracts

Contract Reconciliation. Upon conclusion of each fiscal year of this Operating Agreement, final contract reconciliation shall be completed as a net cost settlement wherein the Medicaid funding prepaid by the ENTITY to each Member, and the total of the Member’s expenditures pursuant to this Operating Agreement, will be reviewed and reconciled in direct accordance with the service and financial provisions hereunder. The contract reconciliation of this Operating Agreement will be completed in full compliance with MDHHS requirements and in accordance with the revenue and expenditure reconciliation process and requirements of the ENTITY’s contract with MDHHS. The contract reconciliation for each fiscal year under this Operating Agreement will be completed in accordance with the timelines that have been established by ENTITY policy and/or procedure or contractual requirements.