By JOE SPAULDING
A proposed budget for the 2013 calendar year was adopted at the recent meeting of the Adams Memorial Hospital Board of Trustees.
Chief Financial Officer Dane Wheeler told the trustees the budget "is a very conservative estimate, very tight. One major catastrophe could throw the whole budget out of whack."
Wheeler budgeted a payment for the state's "hospital tax" that cost hospital officials over $1 million this year (AMH was just one of a handful of hospitals in the state that had to pay the tax which was based on a formula adopted by the Indiana General Assembly), but said the tax "should be a little lower next year."
The overall budget proposed by Wheeler calls for total operating revenue of $42,518,597 with operating expenses of $43,359,939. That $841,342 deficit will be overcome by non-operating revenue received by the hospital in the form of CEDIT money of $1,343,512 to help pay off the bonds issued to build the new hospital.
The CEDIT addition gives the budget a proposed $502,170 balance to the good at the end of the year if everything goes according to Wheeler's projections.
"We'll still need to watch it very closely because tomorrow it could all change," he added.
Among expenses figured into the budget were $19,613,346 for employee salaries, $6,071,000 for employee benefits, $6,012,286 for direct purchases, $3,806,666 for capital expenses, $2,874,873 for other expenses, $2,051,216 for management fees, $1,582,700 for professional fees, $1,174,658 for store room supplies, $96,447 for travel expenses, and $76,747 for education.
Nearly $90 million is listed in patient service revenue, but contractual agreements with insurance agencies and other groups takes $47,747,000 away from that figure. Inpatient revenue for 2013 was estimated at $27,477,653 by Wheeler with the out-patient figure at $61,858,894. The county commissioners will provide $432,000 to assist the hospital in operating EMS while other operating money of $497,050 rounds out the revenue budget.