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Hospital posts positive October operating margin but warns cash remains tight until IGT and parcel‑tax receipts
Summary
Finance reported an October operating EBITDA of $820,000 and an operating margin over $300,000, driven by volume gains including imaging and surgeries; leadership cautioned that cash remains constrained until $8 million in accrued IGT and parcel‑tax revenues are collected.
Ben Armfield told the board October was the best operational month since April 2022, with operating EBITDA of $820,000 and a positive operating margin of over $300,000 driven by higher volumes in imaging, CT, mammography and surgical services. "We posted an operating EBITDA of 820,000 ... and we actually had a positive operating margin of over $300,000 in October," Armfield said, noting surgical volumes were 30% over budget for the month.
Armfield cautioned that while revenues have been accrued (about $8 million related to IGT and parcel tax), actual cash receipts had been limited so far — about $600,000 received to date — and the hospital remains dependent on parcel‑tax receipts and expected rate‑range IGT funds (due in January) to relieve tight cash conditions. He asked the board and staff to continue daily cash management until receipts arrive.
