The Cedar County Memorial Hospital Board of Trustees at their May 20 meeting received the FY2019 Audit Report from Josh Wilks CPA with Clifton Larson Allen at their May 20 meeting. Wilks told the board that the audit was clean and unmodified. He said that the hospital has $15.8 million in total assets. He said the hospital exhibited a net loss of $1,223,399 for the year. He mentioned capital assets have decreased due in part to operating expenses and continued cash flow losses over the past three years is a concern. Less in-patient volume, lower reimbursement rates by Medicare and Medicaid and non-compensated care/bad debts continue to have a negative impact. He stated that tax levy dollars allow Critical Access Hospitals to survive and he noted the importance of getting the levy increase passed.

Director of Finance Carla Gilbert gave the financial report noting the net profit for April was $103,005 with the days cash on hand at 165, up from March.

The Board discussed the levy proposition. Marketing Director Jeanne Hoagland said that a Community Support Group needs to be formed. Hoagland expressed how vital it is that the Board be active in making face-to-face contact with voters.

CEO Jana Witt said the hospital had received notification that the American College of Radiology’s Committee on  Mammography Accreditation granted the hospital’s mammography services re-accreditation for three years. She also said that the Directors and Officers/ Employment Practices Liability Insurance with Providers Insurance Consultants, Inc had been renewed. The renewal premium was up 5% over last year.

Stephanie Gant, Director of the CCMH Exercise Center in Stockton, plans a 5K/1 mile fun run on June 1 starting on the west side of the Stockton Dam. Registration is $20. T-shirts will be given to each participant. Call Stephanie at 417/276-7762.

Present for the meeting were: Board Members Judy Renn, Carla Griffin, John Walker, Julia Phillips and Marvin Manring as well as Witt, Gilbert, CNO Rob Simon, Hospital Attorney Bryan Breckenridge, Recoding Secretary Terri Heitz and Wilks.

Facebook Comments