A
"Fiscal Intermediary" or FI, is a name taken out of the rule books
the tax people use (you know, the IRS!). According to them, an FI is an organization
or agency that does certain work that allows you or your family to serve as
the employer of record. This means hire, fire, pay taxes, give people paychecks,
etc. (It is a lot like running your own business! And it can be a lot of work!!)
Most people do not want to be the "Employer of Record," but they
DO want to decide who gets to help them and how and when. A Fiscal Intermediary
agrees to do all that paperwork and hiring and firing for you. They do charge
a fee, because it is a lot of work! The good thing is, they will only pay
what is agreed upon on your budget and they will send you regular statements
telling you how much money you’ve spent from your budget.
To make it simple, Fiscal Intermediaries provide technical and money supports without taking away your decision- making power about who your supports are.
Maybe you and your friends and family have arranged for some new and different kinds of help or activities. Maybe you need a person to help you certain hours of the day. You might have chosen people or things that normally don’t work with the Regional Center. That’s O.K.! But now someone has to pay them, give them a check for their help, maybe even hire them and call them employees. A Fiscal Intermediary can be a bank, or an accountant or a person who knows a lot about payroll, making checks, paying taxes, etc. The Project Committees are working hard to find some good Fiscal Intermediaries for people who would like to use one.
Once you have an approved budget, the SDRC will give the money you estimated in your budget to this Fiscal Intermediary, if you decide that’s what you want them to do. The Fiscal intermediary will give you regular statements on the money you spend for the new people or agencies helping you. They will also give this information to the Regional Center.
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This San Diego - Imperial Counties Self-Determination
Project is sponsored by the
San Diego Regional Center and Area Board XIII
Information Hotline: (858) 503-4409
