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Pine Valley board approves May vouchers, reviews receivables and cash flow
Summary
At a Pine Valley committee meeting, members reviewed May financial statements, discussed accounts receivable metrics and cash flow, and approved a set of vouchers including payments to staffing agencies and medical suppliers.
The Pine Valley board reviewed May financial statements and approved the month’s vouchers after hearing an accounts receivable and cash-flow update.
Brittany Helm, presenting administrative and financial materials, reported that days revenue in accounts receivable (AR) stood at 40.8 days for May; the board’s stated goal is under 40 days. Helm said April Medicare payments were received in May and that $132,858.17 is available to be posted in the financials. If posted, she said, the days-revenue-in-AR metric would fall to 36.79 days.
Helm also reported May receipts of $871,312.62 and expenses of $853,248.38. The board reviewed a set of vouchers the packet flagged for approval. The vouchers presented included (amounts and payees as listed in the packet): check 275 to Walmart for $1,094.55 (cleaning and resident supplies); a credit-card statement subtotal of $7,391.96 that included training, subscriptions, staff training and employee appreciation; check 329 for $8,839.85 to Clipboard Health (contracted CMA/RN wages); check 345 for $12,562.84 to Clipboard Health (contracted CNA/RN wages); check 351 for $34,461.75 to Breakthrough Medical Staffing (wages for contracted CNAs and personal care workers); check 353 for $1,300 to JT and Associates (Medicare cost report work); check 355 for $1,808,122.46 to Lang Medical (beds and alarms); and check 373 for $2,500 to Brian Shanick (Medicaid cost report team fee).
Board members moved and seconded approval of the vouchers. The chair called for the vote; members said “aye” and the motion passed.
The board also briefly approved the agenda and the prior meeting minutes earlier in the session before the financial review.
