Wednesday, October 03, 2012
North Broward Hospital District Lowers Millage Rate and Continues Growth
The North Broward Hospital District Board of Commissioners has approved a millage rate of 1.8564, the roll back rate, for fiscal year 2012/2013. The rate is a one percent drop from last year’s rate. That means the owner of a $200,000 home with a homestead exemption will pay about $278 in hospital taxes, down from $281 the previous year.
The taxes will raise about $149 million to fund the district’s operations – about 9.6 percent of total revenue. The North Broward Hospital District, the governing board of Broward Health, estimates a cost of approximately $322 million to provide care for uninsured and underinsured patients.
“Broward Health delivers 80 percent of all the uncompensated care in our community. We have a responsibility to not only care for our residents, but to do so in the most fiscally responsible manner,” said Frank Nask, President/CEO of Broward Health.
Despite a challenging economy, Broward Health has moved forward with numerous projects and programs to better serve the community.
In April, Broward Health broke ground for a new 6,500-square-foot facility for providing medical care for the homeless. Funded through a $2.9 million grant, the facility will open this fiscal year.
In June, Moody’s Investors Service recently affirmed the A2 long-term bond rating with a stable outlook. The affirmation is supported by Broward Health’s low debt burden and improved liquidity and balance sheet measures driven by strong operating cash flow and investment returns. The affirmation also reflects Broward Health role as the safety net system providing some exclusive services in the competitive Fort Lauderdale market.
In September, Broward Health opened an Urgent Care Center in Coral Springs, the third for our system.
This year, Broward Health will embark on an extensive renovation of Broward Health North. The project will provide a fully remodeled emergency department, operating rooms and new exterior surfacing.
Broward Health, providing service for more than 70 years, is a nationally recognized system offering world class health care services to our neighbors in South Florida. Broward Health includes Broward Health Medical Center, Broward Health North, Broward Health Imperial Point, Broward Health Coral Springs, Chris Evert Children’s Hospital, Broward Health Weston, Broward Health Community Health Services, Broward Health Physician Group and Broward Health Foundation. For more information, visit BrowardHealth.org.