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Board reviews March finances and $8 million new-facility progress at Mountainview Medical Center
Summary
Directors reviewed March financials showing an $11,000 operating loss offset by investment gains and were updated on a new facility with $7.764 million in work-in-progress, expected to reach about $8 million in April; investment balances and cash metrics were also presented.
Mountainview Medical Center’s board received a financial update for March and a construction progress report at its April 23 meeting.
Rob Brandt, CEO, presented investment balances: “1st Security 11K, US Bank 306K, Merrill Lynch 989K, Merrill Lynch CDs 5K,” and said the transfer of funds from general to CDs was initiated and will show in April. He reported new facility work-in-progress of $7,764,000 and said the project had a $316,000 pay draw; he added, “It will be 8 million in April.”
March operating figures showed hospital revenue of $770,000 and clinic revenue of $55,000 against total expenses of $808,000. Brandt listed a $50,000 hospital utilization fee and a $13,000 Cibolo fee; the operating loss was $11,000 but investment returns produced a net positive of $7,000. The board was given utilization metrics (census, swing beds, ER visits, clinic visits) and operating liquidity measures (155 days cash on hand; 75 AR days).
On capital, Brandt said construction crews are active, pad compaction testing is largely complete, geogrid and vapor barrier installation held up, water piping is functioning, and forms are ready for installation. A structural engineer is scheduled to be on site May 5. Board members asked for brief monthly architect reports and weekly OAC (owner/architect/construction) notes; Brandt said he will include those in the electronic board packet.
Procedural motions at the meeting included approval of the March 26 minutes and the meeting adjournment; the transcript records the motions, movers and seconders and that the motions passed, but it does not provide roll-call vote tallies.
