posted August 25, 2008
Erlanger Medical Center reported a $1,655,818 profit in the first month of the new fiscal year.
Britt Tabor, finance director, said the July budget received a boost from a disproportionate share payment of $2,349,596 from the state.
Admissions were under budget by seven percent and were under the previous year by 1.4 percent.
Mr. Tabor said two charity cases during the month cost the hospital a total of almost $700,000.
He said final figures are still not in from the last fiscal year.
Mr. Tabor said Erlanger is now funding its employee pension plan at 99.2 percent.
He said it was in the mid-80s, then was up to 97 percent last year.
Trustee Dan Quarles said, "A lot of trustees are praying for these kinds of numbers."
Mr. Tabor said the fund was boosted by the fact that earnings are above 10 percent over a three-year period.
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