I don’t know of a single children’s hospital in the United States that operates at a profit.
From what I can see they depend upon private donations to keep operating.
Our situation
Looking at our children’s hospital audit for 2013, it looks like they reported a loss of $13 million dollars.
According to the report, revenues were about $86 million and expenses were about $99 million. Maybe those numbers do not include the money that they are supposed to pay the county hospital.
Can it can be salvaged?
I guess we will know eventually. Unfortunately the voters won’t be able to hear about the real numbers for 60 days since both sides have agreed to that period of secrecy.
How two government organizations can agree to keep things secret while they work out their differences is beyond me.
We deserve better
Brutus
elpasospeak 
Government-owned entities and facilities operating at a loss is nothing new. Consider our most recent “investment”. Mountainstar’s lease payments do not cover our debt service and other operating costs related to the new ballpark. So, we’re subsidizing a for-profit business owned by two of the richest guys in America.
Mountainstar, too, depends on private donations in the form of tax dollars paid by private individuals and then donated to the Mountainstar enterprise by certain politicians.
Children’s Hospital is required to pays $14 million in lease payments annually to University Medical Center (another government entity). By my estimates, that is probably 30 times more than Mountainstar is paying for exclusive use of the stadium which we had to build for them. We also gave them the millions of dollars in revenue related to stadium naming rights.
What would the city’s P&L for the stadium look like?
Some of the same people who raise hell about the Children’s Hospital losses are the same ones who are happy to subsidize Mountainstar to help ensure that Foster and Hunt make money. The people who work for us negotiate harder with a children’s hospital, which is truly working to improve lives, than they do with for-profit businesses. This says a lot about our priorities and values and who is really running local government.
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How did Valenti get away with saying the hospital would be self supporting? Valenti has grandiose plans for himself.
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It is called “Quiet Mediation”…
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It is illegal and unethical any way u look at it. Its our money they are mediating on.
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“Quiet mediation” is synonymous with back-room deal-making. The only people who stand to lose are the ones not in the room. That means you, the taxpayer.
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