“The audit begins this week.”
That is what CFO Amanda Ellis and consultant Greg Brit told Knox Hospital Governing Board members during their July board meeting Monday.
Auditors are scheduled to begin conducting their annual review of the hospital’s finances on Tuesday.
Not surprisingly, much of the board meeting focused on the hospital’s current financial situation. Board members reviewed the financial records and check register and discussed the status of the accounts payable and receivable balances.
The hospital’s overall revenues were trending positively. April’s revenue exceeded $4.9 million. But, lower patient counts in May caused revenue to fall approximately $1.2 million to $3.7 million, and resulted in a loss for the month of $437,959.
In other action, the board reviewed and approved policies and procedures for the hospital’s Human Resources and Information Technology functions. The group also reviewed and discussed the monthly ER patient satisfaction surveys. Hospital administrator Ray Canady also thanked Jim Tye and the county government for providing new sweepers to the hospital to clean and maintain the new carpeting recently installed in the hospital.
Prior to adjournment, the board went into executive session to discuss a pending legal issue, but returned to open session without taking any action. The next board meeting is set for Aug. 3.