 | Board of Visitors minutes February 7, 1997 |  |
AMENDMENT OF THE MEDICAL CENTER BUDGET 1996-1997
The following resolution was adopted:
- WHEREAS the Medical Center budget plan for 1996- 97 anticipated the potential need to revise the budget after the beginning of the fiscal year;
- WHEREAS the operating results through the first half of the fiscal year have yielded significant improvements in financial performance over the original budget; and
- WHEREAS the Medical Center recommends adjustments in its budget to reflect improved revenues and additional expenditures-to support operations, and the Health Affairs Committee of the Board of Visitors has heard and recommends approval of the proposed amendment;
- RESOLVED that the Medical Center's 1996-97 budget according to the following amendment, is approved:
| Description | Operating Revenue | Operating Expen. (a) | Operating Margin | Non-Oper. Gain (Loss) | Total Margin |
| Original Budget | $386.7 | $386.1 | $0.6 | $3.2 | $3.8 |
| Actual revenue increase over budget (b) | $18.8 | ||||
| Projected revenue increase over budget | $8.0 | ||||
| $4.0 | |||||
| ($4.0) | ($4.0) | ||||
| $1.2 | |||||
| $1.5 | |||||
| Gain-sharing | $3.0 | ||||
| $413.5 | $391.9 | $21.6 | ($0.8) | $20.8 |
a) -includes $30.3 million in depreciation
b) equals the increase over budget through December 1996 plus indigent care increase for second half of year to
reinstate a $4 million reserve since the original reserve
was committed almost entirely to salary increase
| Board of Visitors minutes February 7, 1997 | |