Hospital Boards Get Financial Update

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Sierra Vista Hospital’s (SVH) governing board and Joint Powers Commission (JPC) met in separate sessions Wednesday, June 28, and the focus of both bodies was squarely upon financial concerns left in the wake of former Chief Executive Officer (CEO) Mike Zimmerman’s recent resignation.
Governing board members gathered first at 1 p.m. for their final regular meeting of the fiscal year. After accepting several public comments criticizing recent billing, and other aspects hospital operations, members moved on to a financial report for the month of May.
Chief Financial Officer (CFO) Steve Stewart began by noting that SVH recorded a solid cash increase of $142,990 and saw the important “Days of Cash on Hand” figure increase to 43.6 in May. This figure denotes the number of days full operations could continue without any realized income.