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Winneshiek Medical Center has an operating loss of $825,761 for the first 11 months of its fiscal year

Posted: Wed, Jul 11, 2012 9:22 PM

Winneshiek Medical Center had operating losses of $307,789 in May.  That means the hospital has lost $825,761 in its first eleven months of its fiscal year.

The operating loss in May came despite the fact that total operating expenses were five percent lower than budgeted.

WMC Chief Financial Officer Lynn Luloff says revenues during June for the hospital were also lower than budgeted, leading to the possibility that the hospital will show an operating loss of 1 million dollars for its 2011-2012 fiscal year.

$661,600 in other non-operating revenues have reduced the hospital's net loss to $164,161 for its fiscal year, but that represents a negative margin of 0.41 percent, versus a budgeted total margin of five percent.