WGH trustees hear latest financial report

Charles Cave, Wilbarger General Hospital chief financial officer, reported to the WGH board of trustees during a regular business meeting Oct. 5 that as of Aug. 31 the hospital’s total assets had dropped by $2,171,944,37 when compared to the previous fiscal period.

Cave said that as of Aug. 31 the hospital’s cash, investments, receivables and inventory assets totaled $12,498,561,29, a decline of $5,107,672.41 compared to the previous fiscal year.
Other assets/prepaid and fixed assets totaled $6,783,557.71 for the current year, representing an overall increase of $2,935,728.04 when compared to last year. This amount reduced the hospital’s decline in total assets to $2,171,944.37 overall.

Current total fixed liabilities for the hospital were reported as being $5,418,626.54, less than the previous year total of $7,429,867.03, for a total net change of $2,011,420.49.
The current general fund balance and retained earnings as of Aug. 31 totaled $20,872,934.21, a $160,703.88 decrease when compared to the previous year total of $21,033,638.09.