PMC ends May with 343 days cash on hand
July 2, 2020
Petersburg Medical Center ended May with 342.9 days cash on hand, according to PMC Controller Rocio Tejera at the board of directors meeting last Thursday. The total days cash on hand is how many days the hospital is able to operate without incoming revenue.
At the start of the 2020 fiscal year, PMC only had 134.7 days cash on hand, which includes operating cash and investments. At the end of May, that number had shot up to 342.9 days cash on hand with operating cash and investments. Tereja said that increase is a result of PMC receiving Coronavirus Aid, Relief, and Economic Security Act g...