Memorial Healthcare System ended fiscal year 2017 (May 1, 2016, through April 30, 2017) with continued improvement on its already strong financial position. We remain one of a few comparable public healthcare systems with Aa3/AA or higher bond ratings by Moody’s and Standard & Poor’s, respectively. In January 2017, Moody’s and Standard & Poor’s affirmed their credit rating. These achievements are the result of many factors, including strong cash flow from business operations, a strong balance sheet and key strategies to develop specialized services to attract patients from the primary market and beyond.
This solid financial base allows Memorial to help shoulder the financial burden of providing a high level of uncompensated care. It also enables the development and support of leading-edge facilities and services, recruitment of outstanding employees and the ability to uphold its mission as the “safety net” healthcare provider in south Broward County.
Memorial’s financial strength also enabled its Board of Commissioners to continue its multiyear history of providing tax relief to the taxpayers in south Broward County. In September 2016, the Board of Commissioners voted to adopt a millage rate of 0.1615 for fiscal year 2017 — the lowest in Memorial’s history.