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HMC's budget stable, but center still needs support
• Highland Medical Center's total fiscal year budget for 2007-08 is $950,000.
• Of that amount, $310,000 in revenue is from a federal grant, about 25 percent is from donations and other foundation grants, and the remainder is from fees collected from patients and their insurance providers.
• About 54 percent of HMC's expenses are for medical staff, medical supplies, and equipment. About 17 percent is used for other staff including scheduling and billing and the cost of the upkeep and utilities for the building. About 29 percent is used for other management and administrative staff, including expenses such as legal and audit fees, and travel.
• Of the medical expenses, about $50,000 is budgeted for equipment such as a new defibrillator to replace one from 1996, and a new electronic medical records system. Much of the money will come from financial reserves, the "rainy day fund. HMC hopes for donations or new grant money that will help pay for these expenses so the reserve money can remain intact.
• HMC has a foundation (a separate corporation) with a seed fund of about $150,000, part of which is a permanent endowment fund that provides interest.
• HMC also has a "wish list" of needs not currently budgeted due to lack of funds. It includes about $20,000 worth of expenses such as replacing the furniture and carpet in the waiting room; a new EKG machine which will need to be replaced next year; and a general overhaul of its acute care/minor surgery room.
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