CMH swings loan; critical suppliers, back wages, will be paid
by C.F. David
A loan of $300 thousand from Clayton New Mexico's Farmers & Stockmans Bank, should give Cimarron Memorial Hospital some financial breathing room and a burst of confidence.
CEO Rod Burrus said the hospital's ability to go for and attract the loan, was made possible by the previous hospital board's decision to change the board from a board of authority to a board of trustees, making it possible for the entity to borrow money.
“They, that board, was passionate about saving this hospital,” Burrus said.
The plan to repay the loan is tied to the sales tax monies coming in each month.
The tax, which amounts to about $22 thousand each month is earmarked for the hospital's upkeep, but cannot be used directly for wages. The hospital board has already dedicated some $1,500 per month to pay back a loan the County Commissioner's made to pay the hospital's liability insurance.
According to Burrus, Jeff Harris of Farmers & Stockmans called last Wednesday to tell him [Burrus] that the loan had gone through.
“He told me that we had the money at a reasonable rate,' Burrus said.
“We are in the business to make loans...” -Jeff Harris, Clayton Banker
Contacted by phone, Harris told The Boise City News, “We are in the business to make loans, and we want to support Cimarron County all we can.”
“We are community minded and think that every community needs a hospital. We have faith that the new administration can make the hospital work,” Harris added.
“What I plan to do is to pay the critical suppliers, local suppliers and those bills of about $200 or less. Next, the department heads will receive their back pay for their June salaries,” Burrus said.
In earlier estimates given to The Boise City News, Burrus talked of paying out about $129 thousand to suppliers, another $34 thousand for the back wages and holding back two slush funds of $74 and $61 thousand each as a cushion against July and August payroll.
The remaining $29 thousand owed to suppliers, Burrus hopes the hospital will be able to work their way through on the way to making the hospital viable and solvent.
With money in the coffers, Burrus plans to begin efforts to start adding services to the hospital; having already been in contact with an area dentist.
However, it's surgery, that Burrus wants most to bring back to Cimarron Memorial; and he plans to soon be in contact with surgeons in an attempt to probably first entice to set up rotations, with the idea to soon have a surgeon on staff.
Boise City News, P.O. Box 278