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 $689,000 in September. The fiscal year ended September 30, 2020, and the annual operating loss totaled $17.6 million.
For the entire fiscal year, operating revenue is down $10.9 million from $108.8 million in 2019 to $97.9 million this year. Expenses, however, have dropped only $400,000 during the fiscal year, from $115.9 million in 2019 to $115.5 million in 2020.
The Hospital has received COVID CARES Act grants of around $22.9 million, along with a short term loan against future Medicare payments of $16.5 million. In addition, GLH received $1.7 million in funds from the Mississippi legislature in August, some of which went to employees.
The Hospital has applied $16.2 million of the grant money against its operating loss for the fiscal year, leaving it with an overall loss of $783,000 for the fiscal year. For the month of September, including use of $661,000 in grant money, the hospital had an overall loss of $29,000.
The Board went into executive session and excluded the media and the public for 27 minutes.