Positives Mounting For Hospital

Beginning with a March financial report that SVH Finance Committee Chairman Warren Cross termed as “fabulous,” Sierra Vista Hospital (SVH) Governing Board members were presented with reports outlining a series of positive developments in and about the facility during their regular meeting Wednesday afternoon, April 22…

SVH Audit Shows Improvement

During their regular session Wednesday, November 5, Sierra Vista Hospital (SVH) Governing Board members were assured the facility is on-track toward a long stated goal of operational self-sufficiency.
Finance Committee Chairman and Governing Board Vice Chair Warren Cross offered this confirmation after contracted auditor Tom Dingus presented the board with a clean result from the facility’s 2014 fiscal year audit.
In his review of the audit, Dingus first noted SVH’s overall Net Patient Revenue was up by a full 18-percent over last year’s figures and said this correlated appropriately with an approximate 9-percent rise in expenditures, which were primarily associated with staff salaries.
While board members were told SVH did incur an operational loss of approximately $1 million in 2014, Dingus emphasized this was a significant improvement over an approximate $1.7 million in operational losses acknowledged in 2013.
Overall, Dingus reported the 2014 fiscal year audit resulted in an unmodified opinion, with no significant findings and no material weaknesses within the facility’s financial operations. Board members were assured all issues highlighted in the 2013 audit noted as “minor,” had been duly addressed and corrected…

SVH Improving Amid Concerns

In what is becoming a consistent and welcome report, Sierra Vista Hospital (SVH) Governing Board members were once again told the facility’s finances are continuing to improve at their regular meeting Wednesday, October 1.
After Finance Committee Chairman Warren Cross reported that the hospital recorded “another excellent” month during August and was steadily moving toward the facility’s goal of operational self-sufficiency, Chief Executive Officer (CEO) Michael Zimmerman detailed the monthly financial statements, confirming Cross’ assertion.
Zimmerman began by noting SVH’s cash on hand was approximately $4.4 million, saying it did not include a full $2 million set aside as restricted funds (to cover costs relating to the facility’s ongoing construction project and other initiatives).
The CEO reported that gross patient revenue increased by $338,000 during the month of August and said the hospital’s fund balance also saw an increase of approximately $215,000.
Concurring with Cross’ statement, Zimmerman said the hospital is moving closer and closer to operational self-sufficiency, which when achieved, would allow the facility to pursue future construction and facility upgrades utilizing its own cash reserves.
•Following the CEO’s financial report, Sierra County Manager Bruce Swingle told board members that the county’s first quarterly contribution to the state’s Safety Care Net Pool (SCNP) had been made and noted annual funding for the program would amount to approximately $188,000…

T-or-C Endorses Software Upgrades

With a four to one majority vote, Truth or Consequences City Commissioners approved the acquisition of a new financial software system during a special board meeting Friday evening, September 26.
Outlining the proposed software from Tyler Technologies, T-or-C City Manager Juan Fuentes suggested that while the new system would be somewhat costly, it would greatly improve the city’s overall accounting practices, utility office operations and effectively aid in compliance with recently revised State Department of Finance (DFA) requirements regarding annual reports and data submission.
Fuentes explained how the city’s present software system came online in 2001 and how its capabilities and compatibility with state software systems has steadily diminished due to the continued development of related technology over the past decade.
The city manager told commissioners that the system upgrade would allow the administration to efficiently manage in-house fiscal responsibilities while also simplifying staff’s efforts to comply with DFA mandates regarding report submission in an effective and timely manner.
Fuentes told commissioners that the Tyler Technologies software system would cost the city approximately $350,000, then outlined two options that would move the final figure slightly above, or below this estimated mark…

Hospital Improving Despite SCNP Lag

One of the primary action items on the Sierra Vista Hospital (SVH) Governing Board’s June 25 regular meeting agenda was the review and approval of the facility’s final budget for the 2014/2015 fiscal year. Prior to unanimous support of a motion endorsing the new budget, and forwarding it on-ward to the Joint Powers Com-mission for final approval, Chief Financial Officer (CFO) Bret Goebel provided governing board members with a review of financial highlights for the month of May…