NC DHHS Reports Medicaid Finishes Fiscal Year 2014-15 With $130.7M Cash On Hand
Raleigh, N.C. The Department of Health and Human Services reported today that the North Carolina Medicaid program ended the 2014-15 state fiscal year with $130.7 million cash on hand. This is the second consecutive year the Medicaid program has finished with cash on hand.
"This important accomplishment is a result of the prudent fiscal stewardship by our administration and Department of Health and Human Services Secretary Aldona Wos," said Governor Pat McCrory. "North Carolina's Medicaid budget is in far better shape, but there is still more work to be done to implement a long-term solution for our Medicaid program."
Prior to the past two fiscal years, the Medicaid program experienced shortfalls of nearly $2 billion over a four-year period.
"Finishing with cash on hand for a second consecutive year is an indication that North Carolina continues to make progress in strengthening its Medicaid program," said Secretary Wos.
The State of North Carolina's budget is established and operates on a cash basis. As required by state law, DHHS has returned the cash on hand in the Medicaid program to the State of North Carolina's General Fund.