News – Sheridan Media
The Sheridan Memorial Hospital Board Of Trustees has approved the budget for the 2026 fiscal year.
Hospital CEO Mike McCafferty says the hospital will try again for a break-even operating margin, after several areas came up short in the last fiscal year, partially due to a decrease in activity.
Examples include a 2.6% drop in births and a 2.8% drop in overall patient activity.
McCafferty adds it wasn’t a great year, and although there’s no cause for alarm, the hospital needs to be cautious.
“This past fiscal year has not been a great performance for us and so that’s a challenging thing as it relates to our ability to ensure that we have capital that continues to invest in our people and our facilities and our technology and so we need to be very vigilant from a financial perspective.”
McCafferty says the hospital’s operating budget for fiscal year ‘26 is about $400 million, with an expense budget of about $200-million.
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Last modified: August 3, 2025