The Greenwood Leflore Hospital Board of Trustees held its regular monthly meeting.
According to the financial report provided by CFO Dawne Holmes, the Hospital had an overall operating loss of $149,000 in July. So far this fiscal year, the operating loss has totaled $15.9 million.
However, the Hospital has received COVID CARES Act grants totaling $22.9 million, along with a short term loan against future Medicare payments of $16.5 million.
The Hospital has applied $14.6 million of the grant money against its operating loss, leaving it with an overall loss of $1.3 million for the fiscal year. This month, including use of $570,000 in grant money, the hospital had an overall profit of $510,000.
As of end of July, according to Holmes, cash equivalents are $52.7 million, including the $16.5 million that must be repaid to Medicare.
The Board went into executive session and excluded the media and the public for 54 minutes.