The Finance Commit me meeting UPDATED/UPDATE 2

Update #2: Let's go back in time while I get the video ready to go. Here we are in Feb. 2009. Chet tells us all of the problems, but then CEO, Tim McGlew arrives and we are fine...

UPDATED: Early in 2009, I attended a finance committee meeting where Chet Beedle warned of impending insolvency, inability to pay off our major debt to the OSHPD/Cal Mtg. insurer of our revenue bonds. He said we would be using the reserves to try and pay the August 2009 payment.
After the new CEO, Tim McGlew arrived, Beedle told us at the first meeting together that it was no problem we paid and everything was fine.
I explained to the CEO, that the CFO said on camera a very different story only a few shorts months before.
To prove my point I went racing home to capture the quote and I returned and read it to Mr. McGlew. The subject dropped.
Now here we are in default with Cal Mtg. which has forced the hospital to bring in financial consultants, HFS, to find the problems, which are both obvious: the great big fat debt Cal mtg. allowed the hospital to encumber themselves and their community with and the mismanagement of funds by the CFO. Both are solvable problems. But the CEO and CFO now want the community to pay property taxes to pay the debt and retrofit the ER.
I have many tapes with different stories told by the finance manager, Chet Beedle, but this one should have been a red flag to many. Read on)


"Figures don't lie, but liars figure."

Started my engines early to make the KVHD finance commitee meeting this morning, and it was worth the trouble.

I had many things on my mind, costs, contracts, registry, and of course the second bond payment for the year, 1.1 million.

After 6 months of hearing that the district will have to clean out the bond reserve which is part of the covenant that the hospital keep this amout of money aside. When used partially or entirely there are ramifications.
Mr. Beedle the CFO, however, three weeks from his last statement at the board meeting earlier in the month, has said the payment has been made and without using the money from the reserve.
An amazing turnabout in just three weeks.
I'm sure our new CEO, Tim McGlew must be impressed. I mean he couldn't come into a hospital that had the potential to be taken over by the insurance holder for the revenue bonds, Cal Mtg.

It's a true miracle really. It was not quite clearly explained how this turned around in three weeks. I asked Mr. Beedle how this could happen and quoted him from the last meeting talking about using the reserve and he said he didn't say that.

I said, Chet, it's on film, you can't say you didn't say that. Then it just became a shouting match with him trying to say he hasn't been saying that the hospital would have to use the reserve funds for six months.

"Between the bond reserve fund and the money the interim bond payments, since February, we have already 501K in our interim bond payments. We have 695K in our bond reserve, we have more than enough to make the payment in August. " (Chet Beedle three weeks before at the regular board meeting.")

Now, I'm told that bond is not just paid, but paid without having to use the reserve fund. Where did the money come from? He shrugged and said we have been paying all along.

Then I was told about a windfall of more than 200K which still doesn't match the math.

That seemed to be all he was willing to say. He had controller, Barbara Figeroa, agreeing with everything he said. (I must say that is the first meeting I have heard her speak.)

So, this mystery continues and has confused and confounded the people I alerted of this awfully big news.

Beedle has also denied having any billing complaints from the Emergency Room. Why I've heard too many now, but there's a video up on our YouTube site called, "bill me again and again."

I felt like a dentist trying to extract impacted information but that has been going on for years. Records have been held back; their existence denied.

As contracts were being discussed, the subject of the public relations contract was brought up. The very one they denied existed at the end of last year. Okay. They looked at me like I had spinach in my teeth when I asked.

(update 2: I have not heard back from the hospital on this public relations contract, nor the construction committee Bob Jamison ran and was paid for? The record requests go back years)
Anyway, they have paid $60K for what is pretty much being done already. So, for nothing. That's not money a small hospital can throw around when its needs are so great and demanding at this time. Petty cash I guess.

If the hospital wants to give away money there are needy people in the valley who could have used that ill spent 60k.

Jamsion acted surprised at the price and insisted it be terminated. I guess he forgets again, he spent this money, he created the contract in the first place. Did he pull it from the consent agenda and consider it wisely? From the looks of it, I'd say they put all the right things in, but they over did it.)

They paid 60K for nothing. And there are many suspect contracts to be researched.

Why can't the public get straight answers about what is going on in this hospital and with the finances, the employee issues, the services which never materialize because the hospital has no money to reinvest?

My guess is that the records will not reflect favorably, therefore, they need to keep them out of reach.