Commonwealth of Kentucky Awards Fairbanks to Renew Contract for Annual Cost Reporting and Settlement Services

Chicago, Illinois, June 15, 2020

In 2020, the Commonwealth of Kentucky Cabinet for Health and Family Services, on behalf of the Division of Medicaid Services, again awarded a competitively bid contract to Fairbanks to collect and review the annual cost reports submitted by local school districts under a cost-based payment methodology approved by CMS. Fairbanks will provide training to the school districts regarding the proper completion of cost reports, review the reports for accuracy and allowable costs, and complete cost settlement reports. In addition to the compilation and review of the annual cost reports, Fairbanks will conduct multiple audits regarding the submitted cost reports and provide rate setting amounts for each of the 176 participating LEAs.

This multi-year award includes up to two annual extensions following the initial two-year term, which has extended the contract until 2026.