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CFO reports December loan close, revenue highs and Medicare clawback at Alva authority meeting
Summary
The authority's CFO reported that the December cash balance rose to $3,091,548 after a loan closed Dec. 10, noted a Medicare cost‑report clawback affecting results, and highlighted December as the highest revenue month with gross patient revenue of about $2.6 million; trustees heard the Trane construction scope but did not vote on it in the provided transcript.
Kelly, the authority's chief financial officer, briefed trustees on November and December financials and highlighted a loan closing and a Medicare cost‑report clawback.
"The cash balance for December was $3,091,548," Kelly said, explaining that the authority closed on a loan Dec. 10 and the funds were reflected in the Dec. 11 bank balance. Kelly described November as a month with an operating loss (net operating loss $365,903; net after sales tax…
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