ARMC board approves capital budget, bond request
ALPENA – Alpena Regional Medical Center Board of Trustees approved its capital budget for the 2013-14 fiscal year in the amount of $12 million, with regular capital at $5 million and the emergency room project at $10.5 million, of which $3.5 million will be deferred for future years.
The board expects the emergency room project to take until 2016 to finish, which is why it decided to defer the $3.5 million.
A bond increase request was also presented to the board by the Finance/Cost Containment Committee to add an additional $3 million to the $10.5 million request for future projects.
“We’re now at the point where we can be talking to the bond issuers,” committee chair James Arbuckle said. “It appears to be a good time in interest rates to purchase bonds. I think we should move forward.”
Committee and board member Beach Hall has been in support of the additional $3 million in bonds since there was previous discussion on the issue.
“I think it should be noted that we have plenty of borrowing capacity compared to many hospitals,” Hall said. “It makes sense to do this.”
The board passed both recommendations unanimously.
A report from the Development/Liaison Committee informed the board that members of the Annual Support Committee and the Community Outreach Committee had completed the planting of the Tribute Garden with 169 gifts amounting to $7,489. The garden is a unique place for patients, families, visitors and staff to enjoy.
In other business:
> William Hitzelberger, DO, is the new medical staff president
> operating fund disbursements totaled $11,398,572 for the month of May, with R & I disbursements at $584,428 and write-off of uncollectible patient accounts of $765,769, with recoveries amounting to $57,537
> 48 staff credential renewals and advancements were approved for medical staff to the department of medicine
> ten credential reappointments were approved for the department of surgery
> eight staff credential reappointments were approved for the department of women and newborn health
Nicole Grulke can be reached via email at email@example.com or by phone at 358-5687. Follow Nicole on Twitter @ng_alpenanews.