Hospital says finances improving

Published 5:45 pm Friday, April 21, 2017

Finances continue to show improvement for Memorial Hospital and Manor according to the financial report given at the April board meeting held Tuesday.

Net income for March was $236,619, with a year-to-date of $230,035. Compare that to last YTD, which was a loss of  $6,346,502. 

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The accounts payable went down in the amount of $472,056 in March. All in all, “It was a pretty good month,” according to newly elected finance chairman Rusty Davis. Interim CFO Gregg Majors tagged the report as “promising results.”

The Authority approved the nomination of Donald Barber as vice-chairman.

The amended Hospital Authority By-Laws were brought up for approval. Following a discussion regarding the definition and implementation of “conflict of interest” and the revised wording that “Employees of Memorial Hospital and Manor will not be eligible to serve on the Authority,” the amended by-laws were approved as submitted. The vote was four ayes and two nays. Voting “no” were Dr. Charles Walker and Dr. Linda Jones.

It was announced that the Hospital Foundation Derby Night will be held Saturday, May 6 at Southwind Plantation.

Following a closed session, the Authority returned to open meeting and passed a motion not to renew the contract of CEO Billy Walker, whose contract expires April 30. A nationwide search for a replacement will be undertaken by the Authority.