Because it won’t be on the front page of the paper

But it is still important.  The headlines from the most recent finance packet.

This one is simple.

1.  Alameda Hospital has lost 2.9 million dollars on an operational basis through the end of May and is projected to lose more in June.  (Because of the 3rd party liability reversal, the net loss is 1.5 million through May.)

2.  Alameda Hospital cannot pay its bills unless it uses an emergency line of credit.  The District does not have the balance sheet or income statement to support such a loan.

3.  Bank of Alameda is willing to lend money to a virtually insolvent institution because it can lay claim to the parcel tax revenues until the loan is paid off even if the District discontinues all services to the people of Alameda.

About egorelick

Gadfly. Former City of Alameda Healthcare District Board member.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s