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.