Hospital finances improve
August 23, 2017
Memorial Hospital of Sweetwater County ended its fiscal year with 91 days of cash on hand, meaning it will not default on its bond issue.
During a presentation Tuesday evening, Interim CEO Irene Richardson said the hospital ended its fiscal year above the 75 days of cash on hand minimum that would have triggered a default on its revenue bonds, which would have caused the hospital board to seek a management company to run MHSC. Other measures the hospital administration had to worry about were its debt service coverage ratio and its debt to capitalization percentage.
“(The days of cash on...