Medical Center approves 2020 budget
The Block Island Health Services Board of Directors has approved a $1.4 million budget for fiscal year 2020.
The $1.4 million bottom line shows a decrease from the 2019 budget, which was $1,559,490.
On the revenue side, the budget includes a $60,000 increase in patient fees, which totaled $671,000 in 2019, but are expected to come in at $730,000 for the new year. Dr. Mark Clark said that patient visits showed a 5.3 percent increase in 2019 over 2018, with that trend continuing into 2020.
In other income, donations are expected to see a significant drop from $231,000 to $144,500. The Medical Center will also be seeking a $300,000 appropriation from town voters at the May 4 Financial Town Meeting (the same request was made last year).
The Medical Center also expects to take more out of its endowment this year. Last year, there was an $75,000 allocation from that account, but that number has increased to $95,000 for 2020.
Donation, grant, endowment, and fundraising monies are expected to total $634,500, which will cover the deficit between expected revenue and expenses.
Income in 2020 will total $766,950 and expenses total $1,401,450.
On the expense side, total payroll costs for the center will be $784,300 for 2020, a slight increase over this year’s line item, which came in at $770,600. nsurance is expected to rise from $37,900 to $54,200 due to an increased number of patients being seen, said Clark. Benefit packages for employees will total $160,900, an $8,000 decrease from this year’s expenditure. The line item for contracted medical staff will drop significantly from $92,740 to $38,000.
The budget will be assessed at Town Hall and then forwarded to the Town Council for approval. It will then be presented to voters at the annual Financial Town Meeting on Monday, May 4.