Tuesday, February 27, 2024, 7:03 pm News Flash Archive

The Greenwood Leflore Hospital Board of Trustees held its regular monthly meeting.

Horne LLP's audit for the fiscal year ending September 30, 2023 was presented by Horne management.

The audit included an "emphasis of matter regarding going concern" for the hospital, noting financial viability issues "that raise substantial doubt about its ability to continue as a going concern."

The audit covered the transfer of around $2 million of ARPA funds, as well as the millions of dollars transferred to the hospital by Leflore County from the $10 million loan the county obtained to keep the hospital afloat.

The final audited loss for the fiscal year ending September 30, 2023, was $7.576 million.

According to the financial report given by Mrs. Dawne Holmes, the Hospital had an overall profit of $5.76 million in January.

At the end of January, the useable cash and equivalents were $7.21 million.

As of the end of January, the hospital still owes Medicare $4.2 million. The Medicare loan is being paid down at around $102,000 per month.

Mrs. Holmes also reported that the lump sum catch up payment for the enhanced MHAP reimbursement from Medicaid was received in early January, which explains the large profit last month.

The board then went into executive session, with the public and the press excluded for 34 minutes.

The Board of Trustees meeting may be viewed here: GLH Board Meeting, February 27, 2024

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To review our reporting on GLH and its financial woes, please see here: Index of Greenwood Leflore Hospital news articles

John Pittman Hey
The Taxpayers Channel

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