Latest LHA Financials Show Hospital Could Survive Another 20 Years?
Posted: Tue Nov 10, 2015 6:26 pm
The 9/30/15 financial statements show:
1. A $4.5 million EBIDA loss for 2015 vs $3.39 million in income for 2014---that's a nearly $8 million swing----This is largely due to the premature announcement to close the hospital and CCF's proactive efforts to destroy the hospital.
2. Revenues dropped nearly $19 million but CCF still paid themselves $17.7 million to manage the destruction---so CCF is getting nearly 25% of every dollar collected.
3. Even with all of this, the financial statements show only a $2.75 million drop in investments over the first 9 months of the year.
4. LHA still has $50.4 million in investments and LHF has $33.5 in assets.
So even with CCF trying to destroy the hospital, it may take 20 years to deplete the hospital reserves?
Just imagine if we had an honest manager and a real board of Trustees that worked to restore programs and oversee the manager.
1. A $4.5 million EBIDA loss for 2015 vs $3.39 million in income for 2014---that's a nearly $8 million swing----This is largely due to the premature announcement to close the hospital and CCF's proactive efforts to destroy the hospital.
2. Revenues dropped nearly $19 million but CCF still paid themselves $17.7 million to manage the destruction---so CCF is getting nearly 25% of every dollar collected.
3. Even with all of this, the financial statements show only a $2.75 million drop in investments over the first 9 months of the year.
4. LHA still has $50.4 million in investments and LHF has $33.5 in assets.
So even with CCF trying to destroy the hospital, it may take 20 years to deplete the hospital reserves?
Just imagine if we had an honest manager and a real board of Trustees that worked to restore programs and oversee the manager.