Videos- Special Called Meeting re: Budget Hearing Somervell County Hospital District 10/11/2016


 

Videos- Special Called Meeting re: Budget Hearing Somervell County Hospital District 10/11/2016
 


13 October 2016 at 3:50:43 PM
salon

Agenda

Public hearing on proposed annual budget for fiscal year 2017 for Somervell County Hospital District

Consider and if necessary taken action on the approval of Fiscal Year 2017 Budget for Somervell County Hospital District

(Note that Dr Steven Vacek again showed up for the budget meeting, as well as actually VOTED on the budget, really an ethical shame) 

Part 1

Rough transcript
Hankins Public hearing. I'm surprised we didn't draw at least somebody. 
Whitsitt: Yeah, right, maybe we're doing something right. 
Hankins: Well good news is that when Ray, you told us you were 99 percent sure something was going to happen and now we know it did. 
Reynolds: Last Friday we'll expect our 2015 after judge signs off on our settlement, should be within 30 days. 2016 taxes should be seen after the first of January. 
Drake: What are you going to do with all this extra money? 
Reynolds: Pay some people. 
Hankins. It's past 5:30 and there's no one here so I"ll close the public hearing. 
Reynolds: I want to thank Becky for the work she's put in on the budget. 2017 explain a couple of things, why it's this format. First pages what you usually see. 125,000 loss if you look at salaries in detail for Ray, Becky and Ladonna, significant change over last year. Physician salaries: Met with Interbank, still owe them about 800,000. they've agreed when we get the taxes for 2016 on or about the first of January, lump sum 200,000 payment and then willing to finance the rest of our debt over a 3 year period. Did not make a solemn committment but willing to fund IGT. , $20,000 monthly payment. First IGT around January. Different format than you usually see on the income statement. Budget needed to provide enough for the loan and bond payment so why it's shown this wey, generally you don't show the principal payments on an operating budget. 
Whitsitt-does that make sense, the 2 different pages? Can you see what the difference it?
Drake: Other income on first page taxes?
Reynolds: Bond payment and interest, also added 1.2 million for some of our debt in arrears. We've been able to take care of a significant amount of that. Really the only, other than the bank, significant debt, some smaller, but most suppliers stay pretty current. 
Drake Considerable amount of debt to Community Hospital Corporation. 
Hankins: Pretty well understand our situation, when you have someone paying 80 percent of tax value and they decide they aren't gonig to pay
Reynolds: Particularly with bond holders, they follow our meeting minutes. You have IGT payment, any money in that to make the bond payment, I said no. They go out online and read our minutes and watch our videos. They're keeping up with our business, I'm sure they already know we hvae the settlement with Luminant, first thing is to make the bond payment. I wondered How do you know so much about our business and I realized they read our minutes and watch our videos. 
... behind teh capital equipment budget. We haven't identified any euipment we're going to pay for out of our cash. We're expecting that the Roger Marks foundation will help us make our match. Any capital funds through donations. 
Drake: NO plans to improve the phone system?
Reynolds: No, we're about maxed out. Delay anything that we can to make a reserve
Nothing right now that restricts us from taking outpatient issues, outpatient service can be procured somewhere else
Whitsitt: Lion's club
Reynolds Lions club looking for legacy project, considering making donation to the vans. Looking for something they can put their name on.  Departmental budget for each department. I'll refer you to Becky
Drake Where are the vans on this list? 
Whitsitt: Expecting to get part from grant. 75,000 grant
Hankins: Reasonable method to replace senior care?
Reynolds: no
Drake: Make motion that we approve the budget for 2017

 

 


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