Farmer-Stockman is selected as home for hospital's payroll account
by C.F. David
In a vote on Tuesday night, the board of Cimarron Memorial Hospital chose Clayton's Farmer-Stockman Bank as the facility in which to deposit the hospital's Payroll One account. Of the members present, Frank Lynch, Dwilene Holbert and Lois Burkhalter voted Aye; Board Chairman Dan Gholson, abstained.
Memorial's CEO, Rod Burrus, had furnished the board a requested list of six banks of which he had given a menu of services desired with inquiries as to fee amounts or the absence thereof.
Burrus, when asked for his recommendation, declined saying that he could not give an unbiased answer. Burrus then said that it had been conveyed to him that doing business locally was preferred, “Whatever locally is, in a Global economy. I'll follow your instructions to the letter,” Burrus concluded.
The board, after looking over the list, chose the Clayton bank pointing out that the lack of fees as having been attractive.
“I appreciate you all,” Burrus said.
In other business, Burrus placed before the board a bid of $85,237 for the hospital's liability insurance. The change in carriers brings the premium down from last year's $166 thousand.
Burrus explained that the policy would furnish $1 million for each claim and $3 million aggregate, (collective) with a deductible of $25 thousand.
After voting yes on the insurance proposal, Gholson looked at Burrus and said, “Rod, you have the green light, we have to have insurance.”
“I'll make it so,” Burrus responded.
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