FFH business plan approved

The annual business plan approved by Hospital Service District 1 Board of Commissioners Thursday includes Franklin Foundation Hospital’s 2013 budget projections.

The budget predicts $518,357 in net income on the fiscal year that begins Oct. 1 and ends Sept. 30, 2013. It projects just over $18 million in net revenue and almost $23 million in operating expenses with $2 million in tax revenue and $2.5 million in Rural Upper Payment Limit funds, the state’s Medicaid reimbursement program.

There also is a 3 percent employee merit pay increase as well as almost $2.3 million in capital expenditures that includes $1.8 million for construction of the new medical office building to be constructed next to the hospital.

Hospital Chief Executive Officer Parker Templeton said he would highlight the hospital’s 2012 accomplishments detailed in the business plan at a future meeting.

In other business the board:

—Passed a resolution establishing a fund with Community Foundation of Acadiana to receive charitable donations for benefit of the hospital. The board agreed to contribute $10,000 to the fund as seed money.

—Heard from Chief Financial Officer Ron Bailey that there was a $240,464 profit in August bringing the year to date bottom line to $931,447.

—Heard from Don Smithburg of the Quorum health group that Templeton was among nominees for the national Up and Comers recognition program by Modern Healthcare magazine.

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