Hospital board amends budget

During their meeting Tuesday evening, the Hot Springs County Memorial Hospital Board of Trustees approved amending the budget for the 2017-18 fiscal year. Chief Financial Officer Shelly Larson explained because they are a hospital district they are subject to different rules in terms of their budget. The state auditor’s office requires the board amend the budget for any line items so they don’t exceed what was approved by the board. Larson further explained she takes the actual revenue and expenses from July to May and tries to estimate June’s, providing the amended budget.

Larson pointed out the total operating revenue on the amended budget was about $18,861,000, compared to the budgeted $18,165,000. Total operating expenses were $18,942,000, compared to the budgeted $18,244,000. There is an estimated net operating loss of about $80,000, where there was a budgeted net income of about $20,000, causing a variance of -$100,000. As for non-operating revenue the amended amount was about $88,000 for the year against an original budgeted amount of $45,000.

The hospital has a total net operating surplus, before restricted grants and taxes, of $8,486 on the amended budget, compared to $65,574 on the original budget.

The board also approved the preliminary budget for the 2018-19 fiscal year, presented by Larson. Among the budget estimates: gross patient revenue is about $32,170,000; total operating revenue is about $21,228,000; and total operating expenses are about $21,518,000. A net operating loss of about $290,000 is also expected, but so is a non-operating income of $243,000.

There will be a public hearing on the budget at 6 p.m. July 31 in the hospital conference room, prior to the regular board meeting.

Another financial decision made at the Tuesday meeting was to approve renewal of the hospital line of credit with Central Bank and Trust.

Also during the meeting, Dr. Jason Weyer reported he is looking into creating binders for new providers so they have an easy introduction to things such as procedures, passwords and other items. Weyer also reported there has been some discussion regarding the creation of an “easy” button, something that can be activated to get a helicopter immediately. As part of the process he is looking into whether one company would be used for the helicopters or the service would be spread across multiple agencies.

Phil Scheel, a member of the hospital foundation board, said the board meets every quarter but some members have discussed becoming more active. One of the primary roles of the foundation, he noted is to help with equipment needs for the hospital and they will hopefully be very active in the hospital’s renovation and expansion.

Scheel noted they are also looking at potentially having an executive director or professional grant writer to help the foundation board set and accomplish goals. Among the goals already discussed, he said, is to be more directly connected to the hospital board. “I’m just here to communicate our ideas and our enthusiasm,” Scheel said, “and see if we can work with you.”

He encouraged the board to attend their regular meetings if they would like to see what the foundation board is all about.