Share Convalescent and Homestead show May profits
June 28, 2020
Both Share Convalescent Home and the Homestead made profits during May, according to financial reports from Interim CFO Steve Knox. He was reporting to the Alva Hospital Authority trustees during their June 23 meeting.
Share Convalescent Home
Knox said the nursing home made a profit of $30,603 in May following a loss of $633 in April. Share Convalescent Home had an operating cash balance for May of $253,203, representing 27.1 days of operating expenses, excluding depreciation. Accounts receivable balance was $576,060, up $14,222 over April. Accounts payable balance for May was $60,946. Thi...