HCMH sees improved financials in current year

There was good news and bad news imparted at Monday’s Humboldt County Memorial Hospital (HCMH) Board of Trustees meeting. The bad news is that after a review of the financial audit report, FY 2014 was not a good year financially for HCMH. The good news is that through the first four months of FY 2015, the financial picture is ostensibly better, with a chance to improve further in the new year. Chief Financial Officer (CFO) Heather Shaull presented the audit report and also provided the monthly financials for the board to digest. The fiscal 2013-14 year showed an operating loss of $378,968, decreasing the hospital’s net position by $473,329, or 2.6 percent below the previous year. Net non-operating revenues also decreased for the year. Total operating revenue for October was $1,277,603, compared to $1,270,582 in expenses, for a net operating revenue of $7,021. When non-operating revenues and county tax dollars were added in, the hospital showed a net income for the month of $133,901. For all of your local news and sports, along with advertising information to save you money, subscribe to the Humboldt Independent print or online editions by clicking on the link at the top of this page.

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