Sarasota Memorial Hospital's board approved a $413.6 million operating budget for the fiscal year ending Sept. 30, 2003, a 14.6% increase from the hospital's current budget.
For fiscal 2002, the 576-bed hospital budgeted $353.7 million and forecast a $14.1 million profit. The new budget is expected to bring $16.5 million in profits, hospital officials said.
The hospital did not, however, account for expenses it expects to incur with an increase in delivering babies. Doctors Hospital of Sarasota announced earlier this month that it was not delivering babies after November. Sarasota Memorial expects to pick up the bulk of Doctors Hospital's annual 800 births. The added workload would mean about $2.8 million in expenses, administrators said. --Patrick Reilly