The Board of Trustees for Phelps County Regional Medical Center approved $1.9 million of additional funding on Wednesday to finish construction of the hospital’s new Inpatient Imaging area.


The Board of Trustees for Phelps County Regional Medical Center approved $1.9 million of additional funding on Wednesday to finish construction of the hospital’s new Inpatient Imaging area.

 

According to Edward Clayton, interim chief financial officer at the hospital, renovation costs associated with the project increased because of higher-than-expected quotes received in bids.

 

Although the hospital projected a total project budget of $15 million in 2008 — $9 million for new imaging equipment and $6 million in renovation costs — the renovation costs are expected to reach an actual total of $7.9 million, Clayton explained to board members.

 

So far, the hospital has completed construction and new-equipment purchases for the Outpatient Imaging Department in the Medical Office Building, the Breast Center and PET/CT areas.

 

Clayton requested the board finance the shortfall by two methods: Use $500,000 of the remaining $1.1 million already budgeted in the 2010 Capital Budget Contingency Fund and use $1.4 million of undesignated excess cash generated from operations.

 

Board members approved the request for additional funds by acclamation.