Erlanger ends fiscal year $7.9 million in the red - | Chattanooga News, Weather & Sports

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Erlanger ends fiscal year $7.9 million in the red

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CHATTANOOGA, TN (Times Free Press) -

Erlanger has ended its 2013 fiscal year with a $7.9 million deficit -- a far cry from the original $10.8 million profit the hospital had budgeted for, but not as bleak as initial projections.

Auditers presented the final numbers for the public hospital, which has struggled financially for the last two years, at the board's Budget and Finance Committee meeting Monday.

Hospital officials had initially estimated the hospital might close the year showing double digits in the red, possibly surpassing 2012's $9.5 million deficit last year.

But it received a sizable bump with a refund from the Internal Revenue Service, which had been collecting FICA taxes from University of Tennessee medical residents working at the hospital, and also from Erlanger.

Read more from our news partner the Times Free Press.

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