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NCHC Financial report reveals $3.9 million shortfall | excerpt
It helps explain the increased scrutiny on the organization, if not the full picture
In the year 2020, North Central Health Care showed an operating loss of $3.9 million.
For a roughly $88 million budget, that’s a lot. It’s 4.4% of the total budget, if you designate the “budget” as the expense side.
Those numbers come from a report Wausonian requested and received called (buckle up, it’s a long one): North Central Community Services Program dba North Central Health Care Combined Financial Statements and Required Supplementary Combining Information. The report was sent upon open records request by NCHC Interim CEO (and CFO) Jill Meschke, and audited by Wipfli, a local accounting firm.
Meschke was placed in the role following the suspension of NCHC CEO Michael Loy. Why Loy was placed on leave is still a mystery, and the report of course doesn’t including anything inclusive in that regard; but it points to a different financial picture than had otherwise been made public.
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