CMH financing still cloudy, but promising
Burrus tells board financial officers pleased with plan
Cimarron County Memorial Hospital's CEO Rod Burrus told the board on Tuesday night that he still had no positive answer on attempts to borrow money; however, Burrus did convey that the bank officers he talked to, liked the hospital's plan for solvency.
According to Burrus, his talks with bank officers from Clayton's Farmer Stockman's Bank were very positive in their discussion and were impressed with the hospital's financial plan.
‘They told us, that this is exactly how the Union County fixed their hospital,” Burrus said.
In Burrus' 11 page CEO's report, he pointed out that Phase One, the immediate stabilization of the hospital had been accomplished and he was ready to move on to Phases Two-Finances and Three, adding services.
Burrus asked the board for permission to pay only the arrears on the hospital's past due accounts (Approximately $129 thousand) and let the management team try to work the hospital out of the other $29 thousand owed immediately.
“If we can borrow the $300 thousand, I like to pay the $129 thousand and then use $34 thousand for the past due payroll for June,” Burrus explained. (This $34 thousand would pay the wages of about six department heads, including Burrus, who took no pay so the hourly employees could be paid.)
This would leave $74 thousand for July's payroll and another $61 thousand for a slush, or to underwrite the August payroll,” Burrus said.
Chairman Dan Goulson then asked the board for a consensus for Burrus to be able to purchase computers and or software as needed to bring the Billing Department up to speed and hopefully increase money into the hospital's coffers; they agreed.
Boise City News, P.O. Box 278