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Good news at Westlake on the financial front

2013-08-28 - Westlake Regional Hospital, 901 Westlake Drive, Columbia, KY - Photo by Ed Waggener. Westlake CFO David Hayes and Assistant CFO Tammy Curry conferred before Mr. Hayes financial report at the Adair County Hospital District's regular board meeting last night. Hayes presented financials up through June 30, 2013, which show, overall, a much improved financial picture. Mr. Hayes summed up the most important news: The hospital is still in he red, with a projected $669,912 net loss for the preceding year. But the most important information is the trend. The Westlake has a winning vector. Losses have been reduced from $3.1 million in 2011 (largely in the Rusty Tungate era), to $2.2 million in 2012 (in the Spectrum HealthPartners era), to $669,912 under the current board. The hospital's cash position has dramatically improved in the past month, since the organization obtain Chapter 9 protection, the audience was told last night. A payroll was made on Tuesday, and for the first time in recent memory, enough money is on hand for two more payrolls. The complete records are all public record at the hospital. - Ed Waggener
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