ALBANY — The Phoebe Putney Memorial Hospital Finance Committee reviewed and recommended for full board approval Tuesday the hospital’s operating and capital budget for Fiscal Year 2014.
“Like in years past, the FY 2014 proposed budget focuses on service, technology and facility needs,” Phoebe Putney Health System Chief Financial Officer Kerry Loudermilk said in a statement. “The budget also allocates millions of dollars in total community benefit, specifically in health programs, clinics and indigent and charity care.”
An operating outlook shows that Phoebe’s main campus, Phoebe Putney Memorial Hospital, is expecting 19,500 admissions, up slightly from the 19,366 the previous fiscal year. There are 3,550 admissions anticipated at Phoebe North for the 2014 fiscal year, up from the 3,463 admissions the year before.
A presentation on the budget also shows that a payment in lieu of taxes on Phoebe North of $750,000 is budgeted for 2014, up from the $679,000 in 2013. There is also $33.2 million budgeted in charity expenses, reflecting an increase from $31.5 million the previous year.
Meanwhile, $650,000 is expected to be spent on the school nurse program, $230,000 will be slated for Phoebe Network of Trust and $788,000 is expected to be spent on inmate care, the budget shows.
A consolidated budget shows a net income of $5.5 million, up significantly from the $1.6 million the year before. Gross patient revenue is expected to be up 3.5 percent, and net revenue down 1.1 percent.
A capital expenditure budget presented Tuesday shows that $6.2 million is expected to be spent on the new distribution center at Pecan Grove Corporate Park — which officials say will house all the incoming supplies throughout the Phoebe Putney Health System and allow them to be bought in bulk — during FY 2014. In the meantime, $2.6 million is slated to be spent on inpatient oncology renovations, and $4.3 million is to be spent on routine capital replacement.
In all, there is $37.4 million budgeted in capital expenditures for the coming year, the budget shows.
The budget was approved by the full board at its meeting Tuesday afternoon.