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Logan Acres reports positive cash-flow and ongoing renovations; ribbon-cutting targeted for Jan. 9, 2025
Summary
Logan Acres and The Homestead presented financial and operational updates: Logan Acres reported increased cash flow from operations (excluding construction) and ongoing renovations at about 60% completion; managers said a ribbon-cutting for the renovated facility is tentatively scheduled for Jan. 9, 2025.
Representatives from Logan Acres and The Homestead gave the Board of Commissioners detailed operational and financial updates on Dec. 10. Julia Hower reported cash-flow highlights: Logan Acres showed a $388,397 increase in cash flow from operations (excluding construction disbursements); construction fund cash decreased $245,841 due to payments to RCS Construction; accounts receivable patient collections decreased $319,565 to $627,922. The Homestead reported increased cash flow from operations of $61,128 and resident collections of $162,779.
Lorraine Fischio told the board the Logan Acres census was "88/7 census projected to be ninety-four on December 13th," with one mill room out of service. She summarized October activity (15 admissions, 14 discharges, two deceased). The residing/renovation project was approximately 60% complete; new furniture and fixtures are in place and a temporary door is to be replaced with delivery expected around Dec. 17. Staff completed new fire safety education; Medicare revalidation and JFS case reviews were submitted to the Ohio Department of Health and are pending surveyor visits.
Commissioners heard a schedule for a tentative ribbon-cutting ceremony on Jan. 9, 2025 at 1 p.m. for the renovated facility. No formal county funding decisions were recorded at these meetings; presenters provided financial figures and operations updates for the commissioners’ review.
