Per section 456.025(9), Florida Statutes, MQA sustains its operations by collecting fees and fines from health care professions and enforcement activities. These funds are allocated among the 22 regulatory boards and four councils responsible for executing daily licensure and enforcement duties. In Quarter Two, a total of $636,898.46 in regulatory fines and fees were levied, with $294,008.46 collected during this period. Five dollars from every practitioner’s application fee is specifically designated for ULA enforcement efforts. Disciplinary actions may involve the imposition of fines. These funds are held within the MQA Trust Fund and utilized for overseeing practitioner and facility regulation. Quarterly reports on the revenues and expenditures of this fund serve as indicators of MQA's effectiveness in compliance. At the close of Quarter Two, MQA maintained an overall cash balance of $34 million, dedicated to licensing activities, ULA monitoring, and marketing initiatives. The figure below encompasses the initial cash balance at the beginning of FY 2023-24, the total revenues and expenses, and the closing cash balance for the quarter's end. Q2 • Quarterly Performance Report • FY 2023-24 15 FINANCIAL SUMMARY QUARTER TWO REVENUES AND EXPENDITURES FY 2023-24 Beginning Cash Balance Licensed: $35,299,236 Unlicensed: $5,175,031 Total: $40,474,267 Total Revenues Licensed: $37,824,136 Unlicensed: $1,167,148 Total: $38,991,284 Total Expenditures Licensed: $43,454,072 Unlicensed: $1,963,672 Total: $45,417,744 Ending Cash Balance Licensed: $29,669,300 Unlicensed: $4,378,507 Total: $34,047,807
RkJQdWJsaXNoZXIy MjA3OTMwMA==