Posted by: thepinetree on 08/04/2016 12:29 PM
Updated by: thepinetree on 08/04/2016 12:29 PM
Expires: 01/01/2021 12:00 AM
:
Quorum Health Consulting Contract Decision Pushed Back At MTHCD Board Meeting
San Andreas, CA...The biggest item on yesterday's Mark Twain Health Care District Board meeting was pushed back until the August 24th meeting. There may need to be some state specific contract adjustments. The agenda item was: "Consider approval of an agreement with Quorum Health Resources LLC for a financial, operational and strategic assessment of hospital operations to determine the District’s ability to sustain itself as an independent hospital and identify alternatives if independence is not an option"
Below is also the overview of the latest financials. The complete financial statement as part of the Board's packet is at MTHCD Financials.
MARK TWAIN HEALTH CARE DISTRICT:
The Statement of Revenues and Expenses for the District reported an operating gain
before Programs and Events of $22,307 as compared to the budgeted operating income of
$16,447. For the month of May total revenues were above budget due to an adjustment to
property tax revenue based on the first tax apportionment that was received in February.
Total expenses before Programs & Events were 5% over budget for the month due to higher
than expected operational consulting costs, legal fees, and payroll expenses. Year to date,
utility costs are 62.1% of District tax revenue.
Programs and Events expenses in May were $2,066 versus a budget of $9,042. YTD
Programs and Events are $97,969 versus a budget of $186,459.
Operating income after Programs & Events in May was $20,240 versus a budget of $7,405.
Year to date Operating income after Programs and Events was a profit of $66,406 versus a
budgeted loss of < $5,545>.
The Minority Interest in Mark Twain Medical Center decreased by < $342,649> in May
versus a budgeted loss of < $72,300>, due to losses from the operations of the Medical
Center. Year to date, Minority Interest in Mark Twain Medical Center has decreased by
< $2,837,242>, which is the District share of the < $5,674,544> of losses from operations and
investments of the medical center. This is a 14% decrease in the District’s Minority Interest
for the year.
The District’s cash and investments balance as of May 31, 2016 is $1,533,402 as compared
to the yearend balance of $2,386,298; the change is mostly due to the $903,112 purchase of
land for the new Valley Springs clinic location.
“Through community collaboration, we serve as the stewards of a community health system that ensures our
residents have the dignity of access to care that provides competent,
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