FORT LAUDERDALE, FLORIDA September 19, 2024 – 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 tonight 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.”
About Broward Health
Broward Health, founded in 1938 and headquartered in Fort Lauderdale, Florida, ranks among the 10 largest public healthcare systems in the United States. Nationally recognized for its focus on high-quality care for the residents of Broward County and beyond, Broward Health boasts five hospitals, two trauma centers, a dynamic academic partnership with Florida Atlantic University, was the county’s first statutory teaching hospital and has an ever-growing graduate medical education program. It includes more than 50 health centers and physician practices covering virtually every healthcare specialty.
Broward Health never stops working toward its mission of Exceptional Care, Extraordinary Compassion and Everyday Excellence. Driven by more than 11,000 talented employees and physicians who deliver care to all patients, regardless of their ability to pay, Broward Health is one of the largest employers in Broward County with an operating budget of $1.6 billion, and annually provides almost $225 million of charity and uncompensated care.
For more information about Broward Health, visit BrowardHealth.org.