The Board of Trustees held its regular monthly meeting.
The Board welcomed its new interim CEO Gary Marchand.
According to the finance report, the Hospital closed out its fiscal year September 30, 2019 with a net loss of $7.87 million. This was slightly better than the 2018 loss of $8.87 million.
Although the cash balance increased by $766,054 in September, the end of year cash balance was $24.3 million, down $1.5 million from the start of the fiscal year.
Net patient revenue declined by $3.5 million in the fiscal year, down to $107.86 million. Expenses were trimmed by $4.3 million to $117.76 million for the year.
The Board went into executive session and excluded the public and media for 54 minutes.