Reflective of the exceptional year experienced by Broward Health in Fiscal Year 24 – running July 1, 2023, to June 30, 2024 – the North Broward Hospital District Board of Commissioners unanimously voted to cut taxes. The millage rate reduction from 1.4307 to 1.3261 will result in $19.7 million less in tax revenues for Broward Health and is greater than the county proposed rollback rate.
“Broward Health continues to make remarkable progress, increasing our patient volumes and revenues,” said Shane Strum, President & CEO of Broward Health. “Despite increasing demand for uncompensated care, our growth has enabled us to offset public support.”
Due to rising revenues and decreased expenses, the Board of Commissioners agreed that it was the appropriate time to make another cut to the millage rate. In 2023, the Board took similar action, saving Broward County taxpayers $30 million.
“Moody’s, S&P and Fitch all recognized Broward Health’s financial performance this year with improved ratings,” said North Broward Hospital District Chair Christopher Pernicano. “We continue to build upon the momentum achieved in 2023 and are confident that, based on numbers from Q1 of our current fiscal year, we will experience continued growth and success, thus we felt confident lowering the millage rate.”
“Broward Health’s performance is a result of our action to expand service lines, develop new facilities and continue to optimize operations,” said Strum. “We are well positioned for the future and to fulfill our vision of being a champion for a healthier community.”
