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Pine Valley reports higher Medicaid interim rates, $787,007 in August receipts and staffing needs
Summary
Staff reported August cash receipts of $787,007.83, a negative August tax variance of about $203,000, a planned $725,000 transfer for 2025 debt service, and that interim Medicaid rates boosted revenue; administrators also reported openings for several nursing positions and upcoming training events.
Finance and facility staff presented August financial and operational updates at the Richland County committee meeting.
A finance presenter reported total cash receipts for August of $787,007.83 and noted a high‑payroll month because three payrolls occurred, totaling $32,744.98. Staff cited employee sign‑on bonuses of $4,500 and other voucher items. They recorded a tax variance for August of a negative approximately $203,000 and pointed out check number 11009 for Johnson Box, $7,080, as the final bill for the 2023 audit.
Capital and scholarship payments included check number 11036 for computer equipment (eight computers and one laptop) totaling $8,549 from the capital fund, and a scholarship payment by check 11058 for $1,012. Staff said a planned transfer of $725,000 will be moved into the 2025 debt service fund; the account balance discussed was about $2,207,701, which staff described as roughly two to two‑and‑a‑half months of operating expenses.
Staff attributed improved revenue to Medicaid interim rates booked in August, saying the interim increase equated to roughly $30 per day and produced an additional $37,000 in a subsequent month. They cautioned that interim rates may be adjusted once final cost reports are completed, but said the interim credits were timely and beneficial for cash flow.
On staffing, administrators said Pine Valley had openings for a part‑time PM nurse, one IP nurse, a part‑time night nurse and several CNA openings. Staff reported a promising RN interview that could fill a day‑shift vacancy and announced an on‑site CPR class and a community trick‑or‑treat event.
No formal votes on budget changes or staffing authorizations were recorded in the provided portions of the transcript. After the finance and staffing reports, the committee moved on with other business and later announced a closed session.
