Stonewall Memorial Hospital approved lower tax rate

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Financial reports showing an unusually low hospital cash flow didn’t concern board members enough to consider raising taxes to cover the 2019-20 budget cycle. With minimal changes from last year, the SMH board voted last week on the effective tax rate again this year.

Although anticipated to bring roughly the same amount of tax revenue for the district as last year, the approved .586793 effective rate will be costing the Stonewall taxpayers slightly less than last year. As the construction on the new Stonewall Living Center continues to progress, the administration said any potential revenues are not factored into the budget but would certainly be welcome.

Stonewall Hospital CFO Lou Robbins informed the board last month’s bottom line was not what he had hoped, but it was almost exactly the same as the prior year’s report. As it has been in the last few monthly reports, Robbins said his most urgent concern is the low cash flow.

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