Wednesday, June 29, 2016 at 7:30 A.M. Hospital Administrative

COGDELL MEMORIAL HOSPITAL
FINANCE COMMITTEE
Agenda
Wednesday, June 29, 2016 at 7:30 A.M.
Hospital Administrative Board Room,
1700 Cogdell Blvd., Snyder, Texas 79549
MISSION: To provide compassionate, High Quality Healthcare to the patients we serve and to improve healthcare and
healing within our community
VISSION: To be the Regional Healthcare System of Choice for Patients, Physicians and Employees
I.
Call to Order
Russell Riggan, Chairman
II.
Review of Previous Minutes/April
Russell Riggan, Chairman
III.
Review of Financial Report
John Everett, Chairman
IV.
Adjourned
Russell Riggan, Chairman
COGDELL MEMORIAL HOSPITAL
SNYDER, TEXAS
FINANCE COMMITTEE MEETING
WEDNESDAY, APRIL 27, 2016
PRESENT:
Russell Riggan, Chairman
James Cave
Morris Light
Ella Helms, CEO
John Everett, CFO
Kristi Hanley, RN, CQO
The meeting was called to order at 7:50 A.M.
I.
II.
REVIEW OF PREVIOUS MINTUES
The minutes of the previous meeting on Wednesday, March 30, 2016 were presented for
approval. A motion was made by Morris Light and seconded by James Cave to approve the
minutes as presented. The vote was unanimous.
REVIEW OF PREVIOUS MINTUES
Discussion: John Everett gave the Financial Report. The hospital came in with an overall income
of $129,626 for the month and $597,501 year to date compared to $344,053 for last March and
$912,801 last year to date. The biggest difference is the increase in depreciation of $375,000, this
is the addition of the MOB project and IT upgrades.
Volumes were up for the month and are pretty much in line with budget and prior year. Also,
Medicare case mix is up for the month.
Conclusion/Recommendation: This information was provided for “information only” and no
decision by the committee is required.
Action: As stated above
Follow-Up: Next month
III.
INCOME SUMMARY
Discussion: John Everett presented the Income Statement Summary. Revenue is are right in line
with budget this month and bet revenue is down and this is due to we budgeted DSRIP to hit each
month and we get paid only twice a year this $100,000 and we budgeted Tobacco Funds this
month in the amount of $128,000 but this will not hit until April. The payer mix was back in line
this month and no major issues noted. Expenses came in under budget and just a little more than
prior year. The biggest issue for the month with a slight increase in paid claims and this is due to
one large claim over $20,000 this month.
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Conclusion/Recommendation: This information was provided for “information only” and no
decision by the committee is required.
Action: As stated above
Follow-Up: Next month
IV.
BALANCE SHEET
Discussion: John Everett presented the Balance Sheet for the month of March 2016. Cash was
down for the month, most of this is related to the timing of funding for UC for the service
origination and when this hit the books. The annual audit went well, we will have a presentation
in May board meeting. We are paying back $480,000 recoupment from Medicaid DSH audit from
2015 at $80,000 a month this ends in June of this year. The cost report prepare will be on site in
April/May to do the cost report. We have requested this due to the fact it is our first cost report as
a Critical Access Hospital. It is Very Important to get the first one as clean and as right as
possible. The 2016 DSH application has been sent out and we are working on putting it together.
Conclusion/Recommendation: This information was provided for “information only” and no
decision by the committee is required.
Action: As stated above
Follow-Up: Next month
There being no further business to discuss, the meeting was adjourned at 8:05 AM.
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Russell Riggan, Chairman of Finance Committee
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Date
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Ella Raye Helms, CEO
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Date
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John Everett, CFO
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Date
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