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Pine Valley subcommittee approves vouchers as finance report shows June cash shortfall and staffing shifts
Summary
Pine Valley’s financial presenter reported a roughly $31,000 negative cash flow for June, accounts-receivable days under the 40-day goal, and year-to-date operating losses; the committee approved vouchers by voice vote and heard that agency staffing is slated to end by September.
Speaker 4, the meeting’s financial presenter, said the facility’s accounts-receivable metric was well under the goal of 40 days, reporting "28.76 days," and walked the committee through June’s receipts and vouchers.
"Cash receipts for June were reported at approximately $856,010," Speaker 4 said, and the presenter told members the month produced a negative cash flow of about $31,003.71. The financial overview also noted a state SP recoupment that required a repayment; Speaker 4 said the facility kept about $53,000 and returned roughly $84,000 related to that adjustment.
Speaker 4 reviewed voucher details, including capital expenditures (a zero-turn mower charged to capital), training costs and a Medicare cost-reporting service fee. After discussion, Speaker 2 asked for a motion to approve the vouchers; the motion was seconded and approved by voice vote with no opposing votes recorded in the transcript.
The committee also reviewed the quarterly aging report. Speaker 4 said one account for $14,009.65 had posted the same day and that staff had negotiated monthly payment agreements on several delinquent accounts. One probate-related receivable remains open.
On census and operations, Speaker 6 reported the facility census at 56 residents and said June had 8 admissions and 6 discharges; the meeting also recorded five resident deaths in the previous two weeks. Speaker 6 said recruiting and retention efforts had picked up, and the administrator reported hiring seven CNAs and three nurses. "We will be totally out of agency staffing by September 1," Speaker 6 said, noting some transitional overlap in August for different units.
The financial presenter closed by saying the facility remained below budget year-to-date, with a reported revenue shortfall and a total income loss reported at the meeting; staff said they were pursuing lower staffing costs and other operational improvements to address the shortfall.
The committee moved on after the finance and census discussion; Speaker 2 confirmed the requested public-apology item would be placed on the next agenda for full discussion.
