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Pine Valley financials: cash flow swings, solar tax credit and voucher details reviewed
Summary
Committee reviewed balance sheet and cash-flow differences between 2023 and 2024, a solar tax credit, outstanding accounts receivable and a list of December vouchers and checks.
Pine Valley staff presented the facility balance sheet and operations packet and fielded questions about a notable cash-flow difference between 2023 and 2024.
The packet showed a cash-flow figure of 1,052,233 and noted a solar tax credit received of $81,150. Staff reported expenses of $897,136 and identified payroll and workers’ compensation among the outflows. Angela, a Pine Valley staff member, told the subcommittee that Pine Valley did not receive its Medicare A and B payment for December (reported at about $92,000) in December because of a system conversion to Matrix; the payment appeared in January and therefore was not reflected in December’s banking.
Committee members questioned a year‑to‑year cash-flow variance. Staff said Pine Valley returned funds to the county in prior years; the transcript shows staff reporting a return amount of "600" for one prior year and a return of $750,000 this year (the transcript is unclear on the units for the earlier figure). Members requested follow-up to reconcile the apparent differences on page 13 of the packet.
The subcommittee reviewed December checks and vouchers highlighted in the packet. Noted items included: - Check #8: $4,580.44 (refund to a resident who did not stay the full month) - Check #9: $3,630.00 (refund to another resident) - Check #11: $7,916.81 (credit-card charges including staff travel/seminar, backup service and repairs) - Check #24: purchases for new soap/sanitizer dispensers (amount not specified in transcript) - Check #52: SmartNet renewal and switches, $28,023.37 (budgeted expense) - Check #54: $2,447.76 (per-bed charge noted in packet) - Check #61: $599.00 (electric post dryer) - Check #71: $795.00 (maintenance pumping) - Check #74: $528.00 (two new van tires and a truck tire repair)
Staff also reported accounts receivable at 35.58 (document did not specify the unit or metric; staff noted this is under a 40 threshold highlighted in the packet). The subcommittee did not take a formal vote on budget changes at the meeting but asked staff to return with reconciled cash-flow figures and supporting documentation.
No legal authorities or new contracts were approved during this portion of the meeting.
