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 $2.62 million in June. Operating expenses were $9.26 million, while operating revenue was $6.64 million
However, the anticipated one-time USDA loss revenue grant of $1 million was received in June. This allowed the overall loss for June to drop to $1.65 million.
For the first three quarters of this fiscal year, the total loss is $10.6 million, even taking into account grants received of $9.2 million during the same three quarters.
At the end of June, the usable cash reserves, after netting out the deferred revenue and the Medicare short term loan which must be paid back, are $3.69 million. The net cash burn for June was $940,000.
The board went into executive session, with the public and press excluded for 58 minutes.
During the executive session, the Board approved a recommendation to the hospital's owners (city and county) to solicit proposals from parties interested in leasing and/or operating the hospital properties. The recommendation did not name any particular possible suitor.