MQA Quarterly Performance Report 3

Q3 • Quarterly Performance Report 2021-22 12 MQA is funded by a trust fund, which consists of fees and fines collected throughout the licensing and enforcement processes. These funds are allocated among the regulatory boards and councils to provide administrative support for the licensure and regulation of health care practitioners. Per Section 456.025(9), Florida Statutes, MQA continues to provide a quarterly management report of revenues and expenditures, including the fees that are collected and the expenses paid from the trust fund (Figure 7.1). At the end of each year, MQA calculates the cost to regulate professions and reviews the adequacy of license renewal fees to ensure professions cover their costs of regulations. MQA collaborates with the regulatory boards and councils whenever possible to reduce fees and ensure that the administrative costs of licensure and regulation do not dissuade health care practitioners from practicing their profession in the State of Florida. Financial Data Financial Data MQA licenses qualified applicants in conjunction with the regulatory board that oversees each profession. Title Licensed Unlicensed Total Beginning Cash Balance $32,209,759 $5,405,926 $37,615,685 07/01/2021 Total Revenues $87,733,751 $2,199,103 $89,932,818 3/31/2022 Total Expenditures $60,010,230 $3,374,271 $63,384,501 3/31/2022 Ending Cash Balance2022 $59,953,244 $4,230,758 $64,164,002