This came in from Helen Marshall:
I am not an accountant and have not examined the EPCH books. But the constant reference to “rent” being paid to the UMC has puzzled me. How can UMC charge rent for facilities that were built with yet another taxpayer-funded bond issue?
The explanation from a friend at the Times is: “UMC’s explanation has been published several times. They say the rent is meant to pay for upkeep, rather than taking on additional debt to pay for such things. Children’s isn’t disputing the rent as much as they’re saying they were overcharged for other services.”
So the rent is not rent. Got that?
I hope the judge in Austin will hire at least one good CPA to untangle this mess.
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Then she sent this in Sunday:
In the letters section of today’s El Paso Times, we read this about the Children’s Hospital:
“Editor’s note: The building housing Children’s Hospital is owned by University Medical Center. The bonds to build the facility were issued by UMC, and those bonds are repaid through property taxes collected by UMC.”
So it is rent.
The real owners are the property taxpayers, who are about to get whacked.