ITEM TITLE:
Approval of the Providence Valdez Medical Center 2025 Operating and Capital Projects Budget
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: Operating Budget: $23.0MM; Capital Projects: $8.0MM
Unencumbered Balance: Operating Budget: $24.7MM projected revenue; Capital Projects: $15.8MM PVMC Fund
Funding Source: Operating Budget: Operating Revenue; Capital Projects: PVMC Fund
RECOMMENDATION:
Review and approve or provide direction to Providence management
SUMMARY STATEMENT:
Providence Valdez CEO Melanee Tiura and CFO Lindsie King will be in attendance to field questions related to the PVMC 2025 Budget
The 2025 Providence Valdez Budget is comprised of:
Operating Budget
• Hospital $21.9 million
• Counseling Center $1.0 million
• Capital Equipment unavailable at publication date
Capital Projects
• LTC Expansion $7,476,667
• Emergency Room $568,000
Providence Valdez will provide a capital budget at a later date, for expediency only the operating budgets for Providence Valdez Medical Center (PVMC), Providence Valdez Counseling Center (PVCC), and Capital Projects are presented for approval.
The management contract between Providence and the City stipulates that budgets will be presented annually.
The 2025 PVMC Operating and Capital Projects Budgets include no cash contributions from the City. Providence Valdez will continue to provide cash-transfers where applicable, such as the physicians’ assistance program, capital, and/or capital projects.