UMC Governing Board Audit & Finance Committee
Summary
Revenue below budget $980K, labor over $2M, earnings $1.9M vs $3.5M budget.
What Matters to Employees 3 items
Sequestration resumed, ARPA denied, no significant COVID add-on impact.
Informational; 340B pricing benefits patients, no direct impact.
New vendor for on-call perfusion techs and equipment, 3-year term.
All Agenda Items 16 items
Net revenue above budget $7.3M; expenses over $3.2M; cash on hand 94 days.
Revenue below budget $980K, labor over $2M, earnings $1.9M vs $3.5M budget.
Auditors started; brief discussion on price transparency.
Capital purchase for neuro service line enhancement.
5-year agreement for janitorial supplies; 90% purchase commitment.
New 5-year agreement with current vendor, HPG tiered pricing.
5-year agreement; no minimum purchase; as needed.
5-year agreement for plasma and biologics for transplants.
Sub-recipient of grant funding through Feb 2023, amount TBD.
In-house testing saves time and money; 5-year agreement.
Adds product, integrates quality core measures, extends 3 years.
Mandated by fire department; end-of-life panels replaced.
Medical records review to improve accuracy and capture level of care.
One-year extension; consolidated invoices for natural gas.
One-time purchase to maintain HVAC functions.
Additional funding due to market changes and construction cost increases.