A helpful reader sent us a copy of our county hospital’s May 2015 financial report.
The report is fascinating in what it does not disclose. Nowhere in their listing of assets does the report show the $100 million or so that they claim they are owed by the children’s hospital. It also does not show the income that they say they are owed from the children’s hospital every month nor does it show any bad debt reserve or expense.
In other words their balance sheet and income statement make no mention of the children’s hospital. If you did not know to look further you would not know that the situation even exists. Convenient huh?
On a separate page they did publish this:
No muss no fuss
As of May 2015 we can see that they have written off the entire $102,306,000. That means that they do not expect to see any of the money and that the taxpayers have already eaten the bill.
Now we are hearing talk about the children’s hospital trying to find a strategic partner but having trouble because of their debt.
It seems that this is just another ruse. If the county wanted to they could forgive the debt and the taxpayers would be no worse off. That might allow some outside organization to start fresh and maybe keep the children’s hospital away from the county hospital and thus our tax bills.
We deserve better