UMC Governing Board Audit & Finance Committee
Summary
Operating loss of $20.8M YTD, ER visits down 21%.
What Matters to Employees 1 items
New compensation plan for 340B program.
All Agenda Items 12 items
Net loss $7.4M month, $15.6M YTD; SWB 62.5% unfavorable.
Operating loss $5.2M month, $20.8M YTD.
Goals focus on income and SWB targets.
$151.4B unallocated as of August.
One-year extension for lab millennium remote hosting.
Ratification for services through Dec.
Extension for eye disease treatment in premature infants.
Removed spine surgery from agreement.
2-year agreement for utilization management.
$1.5M upgrade for critical life safety areas.
5-year contract, not to exceed $2M.
10-year lease with two 10-year options.
Related Historical Findings
Hospital cuts staff via VSP while reporting $20.8M loss.
VSP (voluntary separation program) reduced salaries; 19 positions replaced at lower rate.
"Salaries are below budget and below prior year. This can be attributed to VSP offered to employees."