Lancaster General Hospital Surplus Soars After Several Years Of Decline

Map of Pennsylvania highlighting Lancaster County (Photo credit: Wikipedia)

After five straight years of shrinking “profits,” Lancaster County’s biggest nonprofit hospital turned things around last year — due in large part to cost cutting.

Lancaster General Hospital’s surplus, or revenues over expenses, ballooned to $92.6 million in 2012-2013, up 54 percent from the previous year and the highest total since 2007-2008, according to the hospital’s IRS Form 990, released earlier this summer.

The hospital’s parent firm, Lancaster General Health, inched closer to becoming a billion-dollar organization in 2012-2013, with total revenues of $919.8 million and a surplus of $100.7 million.

Read more: http://lancasteronline.com/news/local/lgh-surplus-soars-after-several-years-of-decline/article_2a806084-2f92-11e4-8770-001a4bcf6878.html

Montgomery County Holds Line On Taxes In 2014

Map of Pennsylvania highlighting Montgomery County (Photo credit: Wikipedia)

NORRISTOWN, PA — Montgomery County will balance its 2014 budget without raising taxes, according to Chief Financial Officer Uri Monson.

It will be second straight year tax rates in the county have not been raised, Monson told the county commissioners Thursday.

The county projects $371,510,842 in total revenues and $371,473,973 in expenditures for 2014, with a year-end operating surplus of $36,869 in the general fund budget, Monson said.

The county also expects to have just over $41 million in the fund balance at the end of the year, he said.

Read more: http://www.pottsmerc.com/government-and-politics/20131122/montgomery-county-holds-line-on-taxes-in-2014