The loss is less than the originally projected $227 million loss the health system expected earlier in the year, due in part perhaps to the hiring of a new interim CFO and other cost-cutting measures.
The public health system has been on a financial “roller coaster” for the last few years, posting a $25 million gain in 2008 before its financial situation changed dramatically the following year, according to the report. However, the Miami Herald report suggests that 2008 was not as flush as reported.
For example, the health system’s auditors found a $50 million loss in FY 2008 that was not included in that year’s financial statement and had to be written off in FY 2009. Additionally, the system received a one-time $45 million in extra funding from surplus property tax revenue from the county in 2008, according to the report.
Read the Miami Herald report on Jackson Health System.
Read more coverage on Jackson Health System:
– Board of Miami’s Jackson Health System Approves Negative Budget for Next Year
– Miami’s Jackson Health Gains $1.7M in April, Annual Losses Still Expected
