While ending the month down financially, CareArc did manage to close out the 2022 calendar year with a positive ending balance yet again.
Chief Financial Officer Surresa Howe delivered the center’s monthly finance report to the Board of Directors during their monthly meeting Tuesday. The report showed the health center ended the year with a year-to-date net gain of $581,000.
This is the fourth consecutive year in which the health center has ended with a positive balance.
That being said, CareArc did see a net loss of $9,000 for the month of December, however, Howe tells KVOE News it is still a positive considering the health center had planned for a net loss of $46,000. Days cash on hand decreased to 198.6 days from 213 days and expenses were $823,000 for the month.
For the year, CareArc was actually below its projected expense total by more than 7 percent.
In other business, the board approved the listing of a new Dental Referral and Outreach Clerk position, approved the 2023 federal poverty guidelines, the 2023 CQI work plan and the center’s organizational chart recommendations. The CareArc Board of Directors will next convene on Tuesday, Feb. 28 at noon via Zoom.
