What are Financial Management Services (FMS)?

What are Financial Management Services (FMS)?

  • October 21, 2024

Financial Management Services (FMS) help participants manage their individual budget and spending plan.  The FMS does not control the budget or spending plan.  The FMS supports participants by paying for the services they choose.  Some of the ways an FMS can help are:

  • Paying for services, including paying employees
  • Assist with hiring employees
  • Verifying provider qualifications
  • Helping providers get criminal background checks, if needed
  • Helping the participant comply with employment laws and tax requirements.

The FMS also makes sure the participant has funds to purchase needed services and support for the entire year.  The FMS provides the participant and the regional center with a monthly expenditure report.  This report provides the following information:

  • The amount of funds allocated by budget category;
  • The amount spent in the previous 30 days; and,
  • The amount of funds remaining in the individual budget.
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