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TAX REVENUE TO SUPPORT ONLY THE DISTRICT’S GOVERNMENTAL DUTIES WHILE DISTRICT COVERS ALL UNCOMPENSATED CARE COSTS
The Board of Commissioners of the South Broward Hospital District voted on Monday to adopt a millage rate of 0.1863 – making this the lowest rate ever adopted by the District.
The 0.1863 millage rate represents a 53.4 percent decrease from last year’s rate of 0.4000. It will result in a levy of $8.2 million in ad valorem taxes, in comparison to the $16.3 million levied the previous year. After accounting for early payment discounts and a certain percentage of uncollectable taxes, the anticipated tax payments this year will provide the District enough revenue to cover only its governmental obligations, which include paying Broward County’s Medicaid Match program and community redevelopment agencies in several municipalities in south Broward County, as well as tax collector commissions and property appraiser fees.
With no net tax revenue remaining from the newly adopted millage rate, the District will need to utilize operating income to cover all uncompensated care costs for the entire Memorial Healthcare System, including its six hospitals and its South Broward Community Health Services. In fiscal year 2015, uncompensated care is projected to exceed $1.0 billion.
Memorial Healthcare System is the third-largest public healthcare system in the country. It is a national leader in quality care and patient satisfaction and has been ranked in Modern Healthcare magazine’s list of Best Places to Work in Healthcare. Its facilities include Memorial Regional Hospital, Memorial Regional Hospital South, Joe DiMaggio Children’s Hospital, Memorial Hospital West, Memorial Hospital Miramar, Memorial Hospital Pembroke and Memorial Manor nursing home. For more information, visit mhs.net.