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

According to the financial report provided by Mrs. Dawne Holmes, the Hospital had an operating loss of $4.3 million in June, up from $3.2 million in May. A portion of that increase in operating loss is due to a large one-time expenditure for employee retention.

However, the Hospital posted a lower overall loss for June of $3.3 million, by drawing down $971,000 in CARES ACT and other grant money being held in reserve to offset the large operating loss.

The cash and cash equivalents burn for June was $1.9 million.

The overall loss for the first nine months of fiscal year 2021 is $10.2 million, up from $1.8 million for the same period last year.

The amount of CARES ACT and other grant money still held in reserve is $109,000, which must be applied to offset COVID-19 losses. An additional $500,000 in COVID grant money was received in June, but it can only be applied to a narrow list of specific COVID related costs in the clinics.

The Medicare advanced payment of $16.5 million, which the Hospital has not dipped into, is now being paid back. As of the end of June, GLH has paid back almost $1.2 million, including $587,000 in June.

The Board went into executive session and excluded the media and the public for 86 minutes.

In executive session, the Board voted to cancel a lease, but the identity of the lease was not disclosed.