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Petersburg Medical Center board approves revised FY25 budget and adopts FY26 operating and capital budgets
Summary
The Petersburg Medical Center Board approved a revised fiscal year 2025 operating budget and adopted the fiscal year 2026 operating and capital budgets after reports showing higher patient volumes, new revenue from the 340B program and a pending employee-retention tax-credit claim.
The Petersburg Medical Center Board on a voice and roll-call vote approved a revised fiscal year 2025 operating budget and then adopted the fiscal year 2026 operating and capital budgets after hospital staff presented financial reports and grant updates.
Board members were told the hospital’s operating position has strengthened this year amid higher patient volumes and new program revenues. Jason (staff member) reported that cash on hand was about $2,000,000 and that month-to-month net income for May was about $346,003.53 above budget. The board heard that outpatient revenue and long-term care volumes had contributed to stronger-than-expected collections.
Hospital staff said several one-time and ongoing items shaped the revised FY25 figures. Officials said the hospital has begun operating a 340B pharmacy program (reported as “3 40 b” in…
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