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Hospital YTD $2.4 million net loss Print E-mail

At the July 18th regular meeting of the Bamberg County hospital, Derek Pierce, Bamberg County Hospital Chief Financial Officer reported to council members that the hospital has seen a year-to-date financial net loss of $2,428,629. The CFO also reported a net loss of $122,737 more this month than last . Also for the month of May, the hospital reported a loss of $186,584 compared to $309,321for the previous month. “Revenue was up a little from May, but down from this time last year”, reported the Pierce. He said revenue was down $3,004,894 from this same time last year. Additionally, Pierce’s financial narrative of the hospital’s status included the following:

• Patient days for the month of June were down 35 percent. The average daily census in June was 5.80 patients per day. YTD, the ADC is 9.01 patients per day.

• Emergency room visits were up 2.4 percent in June with 843 emergency room visits compared to 823 visits in May.

• Expenses increased $234,693 from last month, but decreased $796,880 from the same time last year.

• The total amount of funds collected for the month of June was $600,245. This amount was $425,607 less than what was collected during the month of May.

• May cash and cash equivalents totaled $353,575 which represented 10.83 calculated days cash on hand compared to 25.2 and 14.7 days cash on hand May 31 and April 30 respectively.

By contract, T. M. Thomas, finance director for the county said revenue was up seven percent from last month. He said the county has collected 80 percent of the estimated annual revenue. According to Thomas, the county has operated within the budget and the YTD revenue is $6,118,359. He reminded council that June’s collections were not included. Thomas also reported the following explanations for some expenses:

• Increase in cost relating to computer taxes such as software maintenance, technical services, software updates, homestead applications, etc.

• Sheriff Department is spending more for gas.

• Professional financial services for interim CEO ($56,542.60)

• County Recreation Grants ($13,000)

• Legal service fees increased due to a paralegal assisting with delinquent tax matters.

In other business:

• After meeting with representatives from MAMAS (Mary Ann Morris Animal Shelter), the executive committee approved dispersing funds from the first quarter of the FY 2012 while working out contractual matters between the group and the recommendation to hire an animal/litter control officer. Council said they would meet with MAMA officials before the second quarter to discuss the shelter’s relationship with the county.

• Approved honoring Willie King, Sr. with a resolution in recognition of his 101st birthday.

 
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