Morgan Memorial Authority adopts FY13 budget
By Michael Prochaska
The Morgan County Hospital Authority adopted Morgan Memorial Hospital’s (MMH) FiscalYear 2013 budget last Thursday.
With total hospital revenue at $13.27 million and total operating expenses at $12.73 million, MMH is projecting a net operating income of $539,118 and a net loss of $281,588 in non-operating expenses.
According to Chief Financial Officer Courtney Moore, the FY13 budget is based on an average daily census of 23, as opposed to what has historically been an average of 26 patients.
County contributions are up from $600,000 to $700,000 after MMH CEO Ralph Castillo requested an additional subsidy of $100,000. The request is listed as the county’s largest line item expenditure increase.
Supply cost is a census driven number and is therefore projected to be $250,000 less than the FY12 budget.
FY13 and FY14 will include a $300,000 deprecation for the purchase of electronic health records (EHR), which is added to non-operating expenses.
Morgan Memorial will no longer pay interest on a loan from the Bank of Madison because the hospital paid that note off last month, Moore said.
In other hospital authority news, it was announced that interim nursing head Beth O’Neil will now serve as the permanent department head. “I assure you I will strive to exceed the expectations for this position,” O’Neil said.
Net income for the month of April was $656,000 with operating expenses below budget by $38,000 and salaries below budget by $37,000.
Printed in the June 7, 2012 edition