Under the guidelines of section 456.025(9), Florida Statutes, MQA funds its operations through the collection of licensing fees and fines from health care practitioners, as well as enforcement actions. These revenues are allocated across the 22 regulatory boards and four councils responsible for overseeing daily licensing and enforcement tasks. By the end of Quarter Three, regulatory fines and fees totaled $669,834.61, with $309,516.46 successfully collected within the quarter. Each practitioner's application fee includes a dedicated $5 contribution towards enforcement efforts, with disciplinary action fines also augmenting this fund. These contributions are deposited into the MQA Trust Fund, which supports the regulation of practitioners and facilities. Regular quarterly financial reports on the fund's revenues and expenditures serve as a gauge of MQA's regulatory efficiency. For Quarter Three, MQA reported an overall total cash balance of $45 million, earmarked for licensing processes, program management, and marketing initiatives. This figure encompasses the fiscal year's beginning balance for 2023-24, detailing all revenues, expenses, and the closing balance at the end of the quarter. FINANCIAL SUMMARY QUARTER THREE REVENUES AND EXPENDITURES FY 2023-24 Beginning Cash Balance Licensed: $35,299,236 Unlicensed: $5,175,031 Total: $40,474,267 Total Revenues Licensed: $72,445,431 Unlicensed: $2,030,309 Total: $74,475,740 Total Expenditures Licensed: $66,450,791 Unlicensed: $2,771,324 Total: $69,222,115 Ending Cash Balance Licensed: $41,293,876 Unlicensed: $4,434,016 Total: $45,727,892 Q3 • Quarterly Performance Report • FY 2023-24 16
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