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Image 12 of Minutes of the University of Kentucky Board of Trustees, 2011-05-03

Part of Minutes of the University of Kentucky Board of Trustees

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-12- Student Govermnent Association updates were supplied by SGA President Ryan Smith. Mr. Micah Fielden was elected president of SGA for the 2011-12 academic year. SGA sponsored a Cram Jam event in April featuring food, drinks, basketball, a corn hole toumament, and miscellaneous other entertainment, including free breakfast and tutoring at the site. SGA is working with Wrap Up America, an organization that gives blankets to people in need and hopes to fumish blankets to tomado victims in Alabama. The Cats Cruiser will run until the end ofthe year. Mr. Jim Wims, Assistant Vice President for Residence Life, talked about the Panda Express, which has recently become a vendor at the Student Center. Sales figures indicate that it is very popular, and additional employees are being recruited through the Stuckert Career Center. Z. University Health Care Committee Report Ms. Young, chair of the Health Care Committee, gave its report. She stated that Mr. Sergio Melgar, Vice President for Health Affairs, presented the financial report comparing the balance sheet at March fiscal year 2011 and fiscal year 2010. Cash has decreased $126.7 million due to use of cash reserves for the remainder of Phase IA ofthe Patient Care Facility project. Accounts receivable decreased by $1.7 million compared to last year, and net patient service revenue increased $42.2 million. Discharges for March were 2,908 or 93.8 per day, which are 2.6 discharges per day less than the budget of 96.4. The combined census year to date was 5.5 percent higher than year to date March fiscal year 2010. Operating revenue for the month totaled $80.2 million, which is $7 million more than the budget for the month. Compared to the prior year, operating revenue increased by $42 million, or 6.7 percent. Net outpatient service revenue continues to be a bright spot, posting a 12.8 percent increase over fiscal year 2010. The provision for uncollectible accounts was above budget at $19.3 million year to date and $23.9 million above last year to date. Current month investment income is $1 million and year to date investment income is $32.6 million. For the month of March, the UK Hospital system posted an operating profit of $5.4 million. Accounts payable have decreased by $4.7 million. Net assets have increased to $621 million for March 2010 and total assets are at $1.2 billion. Ms. Young stated that all in all, it is a good financial picture for the hospital. Mr. Murray Clark, Associate Vice President, UK HealthCare, presented an update on the Patient Care Facility building proj ect. He reported that the building is on schedule and under budget. The open houses will begin Friday May 13, and the ribbon cutting will be held Sunday May 15 at 1:30 p.m. Dr. Kevin Nelson, Special Faculty, Neurology, presented for approval the privileges and credentials of Chandler and Good Samaritan hospitals. The committee made a motion and all privileges and credentials were approved. AA. Presidential Search Committee Report Dr. Brockrnan thanked Ms. Young for her report. He then moved to the Presidential Search Committee report and thanked Mr. Stuckert for his excellent work on chairing the group.