MOREHEAD CITY — Amid a COVID-19 surge that broke numerous records at the hospital and is only now beginning to abate, the Carteret Health Care Board of Directors recently adopted the hospital’s fiscal 2021-22 operating and capital budgets, with no patient fee increase needed for the fifth consecutive year.
The budget vote came during the board’s regular meeting Sept. 27 at the hospital at 3500 Arendell St. in Morehead City. The News-Times attended the meeting by teleconference.
Board treasurer Pat Joyce introduced the budget during the committee reports portion of the meeting, but there was no substantial discussion among members prior to a vote. Mr. Joyce mentioned there were informational sessions held previously board members could attend to get more detailed information about the annual budget.
The board adopted the capital and operating budgets under a single motion, which received a swift, unanimous vote. The hospital’s fiscal year runs Oct. 1-Sept. 30.
According to a summary of the adopted budget sent to the News-Times upon request, total projected operating revenues for FY22 are $182,272,434, including net patient revenues totaling about $179 million and “other” operating revenues coming in around $3 million.
Projected expenses for CHC in FY22 total $171,551,195, giving the hospital $10,721,239 in income from operations. With an additional $2,318,220 in net nonoperating income, the final excess revenues over expenses is estimated at just more than $13 million.
As for expenses, once again, employee salaries and benefits are by far the hospital’s largest spending category. CHC projects it will spend $66,306,710 on salaries and $16,553,481 on benefits during the coming fiscal year. The next largest expense category is supplies at $44,054,741, which finance officer Joanie King noted is up compared to past years, in part, because of the pandemic.
After supplies, purchased services are the next largest expense at about $13.5 million, followed by “other expenses” at $9 million, “other contracts” at about $8.5 million and depreciation at $7.8 million. Other spending categories are for repairs and maintenance, utilities, physician contracts and interest expenses.
The hospital’s capital budget for FY22 totals $32,513,668, including $9,962,140 for “routine” capital and $22,551,528 for special projects. Routine items include computer network infrastructure, at $1,602,514, computer patient care at $609,794, and computer security at $475,000. It also includes medical and non-medical capital purchases totaling $5,933,946 and $1,340,886, respectively.
The special capital projects category includes funding for several larger projects broken down into the following categories: computers – patient care, $6.4 million, medical, $9 million and non-medical, $7,151,528.
Contact Elise Clouser at email@example.com; by phone at 252-726-7081 ext. 229; or follow on Twitter @eliseccnt.