MASSENA - A CSEA representative provided Massena Town Council members Wednesday with what she said a detailed report of Massena Memorial Hospitals financials.
Debra Picerno, CSEA field mobilization specialist, told board members the packet she provided them was the same report that they had received in December. But this report, she said, provided more details on how the CSEA came up with its numbers, which vary from hospital figures.
Its the same report we passed out last month. It explains where we got all the numbers from, Ms. Picerno said.
The CSEA report noted that at the end of 2011, the hospital had a total fund balance of $34,777,442, with $18,776,000 of that being unrestricted.
The hospitals report, on the other hand, noted they had $12,370,453 in cash on hand.
Ms. Picerno said the independent auditor who had completed their study explained in the report provided to board members on Wednesday how she had come up with the numbers.
I wanted to be more in-depth on where those numbers came from and didnt pull them out of the sky, she said.
She said they were still working on other number comparisons, such as how much they could save by switching health insurance, and said she could have the auditor come to a board meeting to explain how she had come up with the figures.
Councilman John F. Macaulay said that, although the numbers between the hospital and CSEA were different, that didnt mean they were incorrect.
Thats because he believed the CSEA report was taking more factors, such as net assets, into consideration, while the hospitals report showed the unrestricted funds in their fund balance.
That (the unrestricted funds) is basically your cash. When you read this, you have to pay attention to that. In our eyes, we think of actual cash, Mr. Macaulay said.
Those numbers dont jive. Some of its the wording, I guess, he said. The total (from the CSEA) looks like total net assets, as opposed to yearly operations. Theyre both right, but somebody would have to be very careful reading this.
If these numbers dont jive, we have to find out why. Weve got to make sure we understand where those discrepancies are and why theyre there, Councilman Albert N. Nicola suggested.
Speaking later in the meeting, Mr. Macaulay said a financial report hospital officials this week showed Massena Memorial ended 2013 wirh a $3.3 million loss. The 2013 year end report was not good, he said.
The Massena town councilman pointed out the hospital had ended 2011 with cash reserves of $12.3 million. They now have cash reserves of $4.5 million. With a $3.3 million loss this year ... At the existing pace, you are looking at about a year and a half before you are below the bottom line. Thats not good, Mr. Macaulay said