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DPH reports $103.3M operating surplus; builds $107.6M management reserve
Summary
DPH—s CFO reported a projected $103.3 million operating surplus for FY2015-16 and described use of one-time funds to boost a $107.6 million management reserve and to fund EHR and Laguna Honda capital projects; commissioners asked for continued scrutiny of recurring versus one-time revenue.
Greg Wagner, DPH Chief Financial Officer, presented the department—s fourth-quarter FY2015-16 revenue and expenditure statement and said the department projects an operating surplus of about $103.3 million for the year. Wagner said the department and controller—s office have deposited one-time surpluses into a management reserve, which now totals $107.6 million after a $12.4 million contribution this year.
Wagner described key drivers of the year-end position: transitions between Medicaid waivers and…
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