Hospital board approves 2010-2011 budget

The Winneshiek Medical Center Board of Trustees has approved a 2010-2011 budget for the hospital. The financial picture at the hospital has been improving at the hospital in recent months as cost control measures have taken effect.

The Fiscal Year 2011 budget calls for nearly $69 million in total patient revenues. $25 million in deductions will be taken because of contractual agreements and charity care, leaving over $44 million in total operating revenues. The hospital expects $43 million in total operating expenses. When $700,000 in revenues revenues from non-operating sources is added to the $1.2 million in net operating revenue, the hospital expects to wind up with a net gain of $1,909,237 during Fiscal Year 2011.

The WMC Board of Directors also passed a FY2011 Capital Budget that totaled $1,490,925. Of that total, $539,300 would go for Medical Equipment; $16,800 for Non-Medical Equipment; $435,000 for IT Equipment and infrastructure upgrades; $424,825 for Engineering/construction projects and $75,000 for contingency fund expenses.