Tom Gallagher presented the FY16 financial results for August, September, and October (attachment V) for the Texas Ministry Market.
Mr. Gallagher reported the October month-to-date recurring NOI was $61.6M, favorable to budget variance of $77K and favorable to FY15 year-to-date (YTD) variance of $6.9M. In addition, Mr. Gallagher presented a breakdown of the YTD October FY16 financial results as follows:
• base operations $11.5M favorable to budget, $4.1M favorable to prior year
• DSRIP $0.4M favorable to budget
• Value Creation Opportunities $0.9M unfavorable to budget
Furthermore, Mr. Gallagher talked about transition payments/expenses, the significant gains in public programs, and the decline in volumes of operations.
Mr. Gallagher reported the October month-to-date recurring NOI was $61.6M, favorable to budget variance of $77K and favorable to FY15 year-to-date (YTD) variance of $6.9M. In addition, Mr. Gallagher presented a breakdown of the YTD October FY16 financial results as follows:
• base operations $11.5M favorable to budget, $4.1M favorable to prior year
• DSRIP $0.4M favorable to budget
• Value Creation Opportunities $0.9M unfavorable to budget
Furthermore, Mr. Gallagher talked about transition payments/expenses, the significant gains in public programs, and the decline in volumes of operations.