Updates: Info Only

Personnel Updates

• Asst. Director for Finance (Vice Camp) – Emily Volk started last week 

Facilities

• Lobby renovation on schedule – Phase 2 underway
• Orthopedic Sx rounds room – plans are underway (SAC 160). Will likely move 2nd week of April.
• SAC storage – shelving units pending, waiting on 9.
• FARMS unloading – panels made in May, job complete in June. 
• Ward 4 door – has arrived and will be scheduled for installation.
• Should have plans for equine surgery by end of week. Will schedule time to review with faculty/staff. Plan is to still do work this summer. Need pricing before starting.
• Med Disp humidity issue – will be examining options.
• Exterior windows in VMSC replaced – no cost to us. 
• Architectural feasibility study for CUBE in VMSC, cost around $2.50-4.00 per sq ft (900)
• MRO room divider – waiting on quote
• Shower in Chemo ward – looking at code requirements
• Drawings received for VTH Offices – pricing currently
• Ward 3 phantom – waiting on labor shop to pour floor to set post.
• Hook up drain and water for new lactation room – will have to go above the ceiling in clin path to access.
• No additional water issues for addition, still working on fascia/roof – water soffit in vestibule, TKB is responsible for addressing
• Oncology Addition – Awaiting information
• Cameras and E phones – pending
• VDL Incinerator is being installed – capital project, incinerator to ship on July 15th. 

Programs

• $1M gift with naming rights for VTH SA Lobby project.

Other

• Illinois Christie Clinic ½ Marathon – this Saturday, traffic to Vet Med 
  will be impacted between 7:30-10:00 am.
• Update Teleradiology – We are evaluating Vital Rads as teleradiology vendor
  
  

VTH Review of Financial Statements - March 2022

Overall

• The VTH had expenses higher than revenue by $(48,586) for clinical operations (fund 301732) for the month of March. YTD expenses over revenue (excluding July) = $(48,705).
• On a YTD basis, VTH revenue over expenses is $(789)k unfavorable to last year (fund 301732).
• March 2022 Banner activity (includes all funding types) = $(139,984). YTD overall activity (excluding July) = $405,575. 

Revenue

• Revenue for the month of March was $1,806,814 for VTH operations and $1,914,379 including storeroom figures. Current month activity is favorable compared to budget, while YTD is unfavorable to budget by $(1.0M). 

• YTD revenue is higher than prior year by $575.5k.

• Please see attached for a breakdown of revenue/admissions per service. 
  o There is overall unfavorability compared to budget for admissions of -9% and unfavorability compared to budget for revenue of -6%.
  o There is overall favorability YTD compared to prior year for admissions of 2% and revenue of 4%.

Expenses

• YTD expenses on VTH operations (301732) are $1.4M (11%) higher than YTD prior year.

     Personnel

• • There is YTD favorability to last year of $176k in academic salaries on fund 301732.
  • $325k favorability in academic salaries is due to “swap” with VTH locums. This moves an amount of faculty salary equivalent to the locums charged on 301732 to state funds to save benefits.
  • Offsetting the above favorability in academic salaries on 301732 are additional resident salaries of $92.6k in FY22. In addition, there is $103.4k additional salary expense for new instructors in FY22 (surgery, ER, Urgent care).
  • Wages are unfavorable to prior year since locums are now being charged to VTH operations.

     Services

• • There is higher spending in services (which includes most staff salaries) compared to prior year of $1.3M.
  • It appears there are several expense categories that are higher than last year.
    o $812k Vet tech and other staff salaries
    o $231.5k maintenance contracts
    o Oncura/VetCT charges
    o VDL and outside lab charges

VTH Security 

• SAC – will secure interior hallway, so public will only have access to public places (lobby, restrooms, waiting spaces) and everywhere back of house will be secure 
• Front office staff has received training – for emergent situations. Will have additional scheduling options.
• Will discuss with VMSC director about frequency of changing door codes 

Budget Update  

• Based on Sara Kennedy review of financial statements, FY23:
• 50% of Residents on VTH funds and 50% from Other (i.e. state funds)
• Estimate FY’23 budget includes planned open hire positions for technicians 
• Looking at economy, we have seen an 11% increase since covid, so we are not exceeding what is “standard”
•  Proposing a 5% increase due to current economy trends. Natalie will prepare list of procedure codes with 5% increase. Services will be expected to indicate which codes cannot tolerate the increase and which procedures do services offer that can warrant a higher charge. 
• Gift funds – some services are unaware of status/remaining budget. Sara will investigate other methods of notifications/ frequency of emails. 

Service Head / Section Head 

• An updated list has been posted to the Intranet

Salary Program

• Salary reports based on industry standards, and various data given to Dean Constable for review
• Campus approved 3.5% increase
• Budget Model spreadsheet has 3.5% increase incorporated 

Strategic Initiatives 

• Facilities – VMSC addition
• Programs – Expanded (enhanced) primary care education, Clinical trials
• Initiatives – culture
• Large animal CT Initiative – Current 16-slice CT scanner at end of life