Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financial Report Votes topic
No spam. Unsubscribe anytime.
CFO reports $22.8M projected surplus; commission adopts routine minutes and consent items
Summary
CFO Greg Wagner said the department projects a $22.8 million fiscal-year surplus despite a $7.3 million projected overspend; staff proposed hiring controls, appropriation adjustments and a planned $25 million transfer to the EHR project. The commission approved minutes and the consent calendar and adjourned the meeting.
Greg Wagner, chief financial officer, summarized the department's second-quarter financial report and corrective actions. Wagner said the department projects a net surplus of $22,800,000 for the fiscal year, driven by roughly $30,000,000 in additional revenues and about $7,000,000 in expenditure overages. He said the largest variances were at San Francisco General, where higher census drove both additional revenue and required staffing costs.
Wagner described corrective steps including additional review on hiring for vacant positions, recharging salary costs to appropriate capital projects where possible, and seeking a limited supplemental appropriation from the Board of Supervisors to move fringe benefit savings into salaries for Zuckerberg. He also said the department assumed the option to transfer up to $25,000,000 per year into the EHR project and that a management reserve balance remained at $92,100,000.
Procedural votes recorded during the meeting: approval of the minutes from 02/20/2018 (motion moved, seconded and approved by voice), adoption of the consent calendar (adopted by voice vote) and adjournment (motion approved). The commission also adopted the medical staff bylaws revisions (see separate article). No public comments were recorded for these items.
