The hospital paid back all the Medicare advance funding in March 2023, draining it of nearly all its cash reserves. However, an audit found that the payment would improve the hospital’s cash flow.
Delta County residents looked to improve the hospital’s financial position as they approved the county’s first special sales tax for the hospital last year. The sales tax is expected to generate $2.7 million a year for the hospital until 2030.
The hospital reported a $5.9 million operating loss for 2022.
“The hospital has suffered recurring losses from operations and negative cash position,” the June audit said. “These conditions raise substantial doubt about its ability to continue as a growing concern.”
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