Licensed Unlicensed Total Beginning Cash Balance 07/01/2022 $38,088,177 $4,133,050 $42,221,227 Total Revenues 12/31/2022 $32,222,214 $1,068,592 $33,290,806 Total Expenditures 12/31/2022 $41,836,410 $1,200,514 $43,036,924 Ending Cash Balance 12/31/2022 $28,473,981 $4,001,128 $32,475,109 MEDICAL QUALITY ASSURANCE | FY 22-23 QUARTERLY PERFORMANCE REPORT 2 14 FINANCIAL SUMMARY This report provides the most current financial data available to illustrate MQA’s fiscal status. As required by section 456.025(9), Florida Statutes, the quarterly report includes revenues and expenditures, in addition to fees collected and expenses paid by the trust fund. MQA is funded through the MQA Trust Fund which comprises fines and fees that are collected throughout the fiscal year including application fees, unlicensed activity fees, and disciplinary fines. These funds are distributed between the 22 regulatory boards and councils, and MQA, to support the administrative functions of health care practitioner licensing and regulation. The costs to regulate each profession are reassessed annually to determine if the associated fees provide adequate revenue to maintain support and regulatory services. The following data include cumulative totals for revenues and expenditures from the start of FY 2022-23 to the end of the second quarter. Also included is MQA’s cash balance at the start of the fiscal year and cash balance as of the conclusion of the second quarter. The financial data are segmented between funds associated with licensed health care practice, and funds relating to the prevention and investigation of ULA, to monitor funding adequacy for the latter.
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