Mayo Clinic submitted a financial narrative related to the impact of the COVID-19 pandemic to the Electronic Municipal Market Access (EMMA) website on Friday, April 24. EMMA is funded and operated by the Municipal Securities Rulemaking Board, the self-regulatory organization charged by Congress with promoting a fair and efficient municipal securities market.
The financial narrative covers:
- Mayo's strong financial position before the pandemic
- The projected $3 billion in operating losses for 2020, without intervention
- The steps Mayo is taking to cut expenses, including temporary workforce reductions
- Mayo's resumption of revenue-generating operations when such activities can be done safely
- Mayo's applications for federal and state emergency relief funds
- Mayo's role in the national COVID-19 pandemic repsonse
Mayo Clinic expects to post interim financials for the quarter that ended March 31 by the end of May, as planned.
/Public Release, Courtesy: Mayo Clinic. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.
