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Finance committee reviews year-end figures, Meharry lease entries and revenue-cycle progress
Summary
Hospital finance staff reviewed year-end income statement variances, a large city subsidy and Meharry lease entries, and reported improving revenue-cycle indicators after the Cerner go-live. Board members praised KPMG’s work and asked for further detail on certain lease and Cerner expense entries.
Hospital finance staff reviewed the year-end income statement and revenue-cycle performance, noting key variances tied to subsidy receipts and lease accounting.
Ray, the hospital controller, reported actual revenue of $24,000,002.56 versus a budgeted $28,000,001.48 for the current month, a shortfall the staff said has been a trend since April. Ray and other staff said the city subsidy line reflected $11,000,005.82 compared with a budget of $4,900,000 — an increase driven by subsidy receipts plus an additional $1.5 million and…
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