"A sharp decline"...?

    Moody's Investor Service, Inc. has downgraded the bonds issued by Broward Health, citing a "sharp decline" in financial performance, no clear plan for improvements, turnover in senior management and the presence of outside investigations.
     The rating of the North Broward Hospital Disrrict, the organization's legal name,was downgraded from A2 to Baa2, a change that Moody's said reflects deficit operations and "extremely thin cash flow" occurring "without a clear plan for regaining operational balance." 

                                South Florida Sun-Sentinel  -3/1/2016  

        North Broward Hospital District
                 Broward Health

      (All figures per adjusted admission)
Fiscal Year             2015         2016

                      (First Seven Months)
Gross Charges             $33,090        $33,385            0.9%
Deductions                   ($25,200)    ($25,800)      
Bad Debt                       ($3,366)      ($3,742)

   Charity Care            ($1,411)        ($1,355) 

   3rd Party,Other       ($20,423)    ($20,703)

Total Reimbursed        $8,529          $8,169            (4.2%)
Per $1 gross charge    23.8 cents    22.7 cents       (4.6%)

Other Op. Revenue      $424            $512              20.7%  

Net Operating Rev.     $8,952           $8,678            (3.1%)    

Non Operating Rev.    $1,313            $850              (35.3%)  

Total Revenue               $10,265        $9,528            (7.2%)
Operating Exp.           ($9,143)        ($9,709)  
Non Op. Expenses       ($216)           ($207)
Total Expenses*             ($9,359)       ($9,916)            5.9% 

Surplus (Loss)*            $906         ($388)        (131%) ???

                                                    *Excluding Depreciation

            Source - Broward Health - 2/18/2016

              Where's the Grand Jury?