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

CFO Dawne Holmes reported that the final insurance renewal premium is $755,961 for the upcoming year, a savings of just over $41,000 from the previous year.

The required three year bidding for hospital depository, the bank that will hold the hospital's bank deposits and pay a certain interest rate on the collected balance, has been completed, and the winner was the Bank of Commerce.

According to the financial report reviewed by Mrs. Holmes, the Hospital had an overall profit of $60,712 in May. For the fiscal year beginning with October 2023, the overall profit is $4.38 million, largely due to the one-time receipt of over $5 million in "catch-up" MHAP enhanced payments for the last half of 2023.

At the end of May, the useable cash and equivalents is $5.6 million.

As of the end of May, the hospital still owes Medicare $3.74 million. The Medicare loan is being paid down at around $102,000 per month.

The board then went into executive session, with the public and the press excluded for 55 minutes. While in executive session, the board authorized the administration to draft papers regarding the possible purchase, lease, or sale of real properties. In addition, the administration was authorized to pursue possible capital improvement projects.