Live Update to Residents-June 23, 2020
Live updates to residents on our in-house TV970 keep us informed and connected. Today’s update featured John Burns, President and CEO; Russell Gardner, Vice President and CFO; Scott Jonté, Director of Dining; and David Curtis, Chaplain. The next update will be Thursday, June 25.
The following updates were shared during the live briefing on TV970.
Nationally, there have been almost 2.3 million cases of COVID-19 and nearly 120,000 deaths. As of today, the COVID-19 data for Virginia includes:
• 565,835 people have been tested for COVID-19, including 10,228 since yesterday. Positive cases total 58,994, an increase of 529 since yesterday.
• The rolling seven-day positivity rate in Virginia is 6.4%, Henrico is 7.2% and Richmond is 7.9%.
• A total of 5,913 have been hospitalized. 847 people are currently hospitalized with 245 in intensive care units and 126 requiring ventilator support.
• There have been 1,645 deaths associated with COVID-19.
• 7,725 people have recovered from COVID-19.
Parsons Health Center
Additional guidance has been released from the Virginia Department of Health regarding the phased model for reopening nursing homes. It trails the Governor’s Forward Virginia plan. Reopening may not begin until at least 14 days after Virginia enters Phase Three. Will Blackwell will share more details at Thursday’s Live Update.
Assisted Living completed their annual survey through the Virginia Department of Social Services (VDSS). The inspection determined no deficiencies with applicable standards, so there were no violations. Thank you to the Assisted Living team for their great work.
A plan for Assisted Living visitation that will begin July 1 was sent to family members yesterday and can be found here. If you have any questions about Assisted Living, contact Sloan Verlander at 264-6275. Sloan will share updates from Assisted Living and review the visitation plan at Thursday’s Live Update.
Independent Living visitation began this morning and will continue on Tuesdays and Thursdays. You can find the details on signing up for an appointment in the Next Steps memo here and on Touchtown Community Apps.
Financial Results Update for Fiscal Year Ending September 30, 2020
In April, Westminster Canterbury Richmond’s financial results from operations for the six months ended March 31, 2020, were very solid. Net operating margin ratio (NOM) at March 31, 2020, was above plan. The Debt Service Coverage Ratio (DSCR) was on plan. At that time, we were beginning to measure the financial impacts from process changes related to the COVID-19 virus.
Since early March, financial results from operations have been strongly impacted by COVID-19. The forecast results for the fiscal year ending September 30, 2020, demonstrate operating revenues will continue to drop during the remainder of the third and fourth quarters.
Westminster Canterbury’s management-controllable operating revenues (operating revenues excluding investment income, contributions and entry fee amortization income) are forecasted to come in at $54.4 million compared to $56.9 million of budgeted revenues for this year – approximately $2.5 million below plan. The unfavorable revenue variances were generated in all service areas: Independent Living, Assisted Living, Health Care, Home Health & Hospice, Child Development Center, Administrative Fees and other revenues.
The unfavorable revenue variances will be offset with $1.4 million of Provider Relief Funds. The funds are being used to reimburse Westminster Canterbury for protection equipment, temperature check and symptom screening costs and some lost revenues. Currently, COVID-19 testing, protection equipment and supplies cost approximately $100,000 per month. We will most likely utilize all of the Provider Relief Funds before the end of this fiscal year, with $700,000 in the third quarter and $700,000 in the fourth quarter.
In April, management adjusted and controlled expenses by reducing schedules in several departments, creating monthly savings of $130,000. During the second half of June and through July, as we return to full schedules in Housekeeping and begin to reopen Dining venues, employees will return to full schedules as needed.
We currently forecast that Westminster Canterbury will achieve full compliance with all bond and bank covenants for fiscal year ending September 30, 2020.
Our management team is working on the budget and financial plans for fiscal year 2021. The inflationary pressures include wage increases, non-salary expenses, utilities, food costs, staff medical insurance, risk management insurances, technology and self-insured unemployment cost.
Our first review of the capital budget and operating budget assumptions is with the Finance-Property Committee today at 4 p.m. Like most businesses, we are closely monitoring cash flows. We are attempting to monitor uncertainties and what-if scenarios with quarterly analytics. Our planning and budget process is very fluid and has to adapt to the new normal. We continue to focus on Westminster Canterbury’s long-term strategy. We will report back to you in early August with the results of the 2021 financial plans.
Declining Balance Plans
If you are on a $150 or $300 per month declining balance plan and have a credit balance (money left over) as of June 30, 2020, the Business Office will post a credit to your statement. Westminster Canterbury is making this exception in order to avoid special programming costs. We do not anticipate making exceptions going forward. Please review your declining balance plan and adjust accordingly for the quarter beginning July 1, 2020. Please call Kim Briggs at ext. 6093 if you have questions.
If you have any questions regarding Westminster Canterbury’s finances, please contact Russell Gardner at ext. 6287.
The Promenade has reopened for breakfast and lunch. Residents must make reservations in advance by calling ext. 6030. We are not accepting walk-ins. Please honor your reservation times by not showing up too early. Due to social distancing guidelines, it is important that residents arrive no more than 10 minutes prior to their reservation time.
When arriving for your meal, please go to the Promenade host stand to check in and be escorted to your table. Please wear your mask when entering the dining room, while in the serving and buffet area and when exiting the dining room. The only time your mask may be removed is when you are eating. Directional arrows on the floor guide which direction to go. Social distance markers in the buffet area are guidelines for the required six-feet distancing.
Omelets and other specialty items will begin next week.
Please join us for worship on Thursday, June 25, at 10:30 a.m., live on TV970. The Rev. Deacon Logan Augustine and The Rev. Deacon David Curtis will lead the service.
Incline your ear, O LORD, and answer me,
for I am poor and needy.
Preserve my life, for I am devoted to you;
save your servant who trusts in you.
You are my God; be gracious to me, O Lord,
for to you do I cry all day long.
Gladden the soul of your servant,
for to you, O Lord, I lift up my soul.
For you, O Lord, are good and forgiving,
abounding in steadfast love to all who call on you.
Give ear, O Lord, to my prayer;
listen to my cry of supplication.
In the day of my trouble I call on you,
for you will answer me.
Out of the depths, Gracious God, do we cry to you.
Out the depths of our love for you, and for your creation, and for our friends and family.
Out of the depths of our uncertainty and of our pain and of our loneliness.
Out of the depths of injustice and oppression that has gone on for too long.
Out of the depths of our comfort and status that has kept us complacent and unaware and silent.
Out of the depths of your love, a love that will not let us go.
Out of the depths of our belief and out of the depths of our unbelief,
Gracious God, do we cry to you.
In your goodness and in your mercy, Loving God, Abba, Father, hear our prayers. Amen.