FY13 starts with loss for hospital
By Michael Prochaska
The Morgan Memorial Hospital Authority reported a loss for the first month of its new fiscal year last Thursday at its monthly meeting.
Morgan Memorial Hospital (MMH) had a net loss of $136,222, which was about $111,900 more than budgeted for the month of July, according to financial reports.
Part of the loss in income was due to a low average daily census, said Chief Financial Officer Courtney Moore. On the positive side, she said, operating expenses were $41,000 under budget, salaries were under budget by $22,000 and supply costs were under budget by $31,000.
Moore said a slow start in revenue is not uncommon for the first month of the fiscal year. MMH’s auditing firm, Draffin & Tucker, will begin working on the fiscal year 2012 audit in September and will likely have it completed by the end of the calendar year, she said.
In other news, MMH raised more than $25,000 at its annual Festival of Friends said Megan Morris, director of community relations.
Printed in the September 6, 2012 edition.