1. No updated financial reports so no way to tell if Management missed budget again in August. These will be available for next week’s Financial Committee meeting. I am sure that they will be carefully prepared because, even though the original date was for today (that was before the scheduling of the Special Board Meeting), Management, this morning, did not want to recklessly offer an opinion about August results. Management (Stebbins) is very careful about controlling the flow of information.
2. The major initiative outside of the current budget is the expanded long term care services. The anticipated date of public disclosure is October 10, 2011. (Actually disclosure will occur when meeting materials are posted.)
3. Alex Briscoe and Debi Stebbins, I am guessing, are exchanging information (whether face-to-face, via email, or phone I am not privy to) regarding the use of funds from the County’s uncompensated care moneys. Even with the backing of Wilma Chan, I am a little bit surprised that this is such an easy deal given the needs of St. Rose, and ACMC (and its ancillary operations). The magnitude is unclear. Stebbins will likely be updating progress on this front in future CEO reports at Board meetings.
4. The conversion of acute care beds to sub-acute I assume is ongoing, but we do not have firm dates yet as to if, or when, this might have an impact on the financials. My guess is that, at this point, there is little material impact that will be possible in 2011/12 given the actual logistics and licensing hurdles that need to be addressed.
5. Changes in the wound care center (which is an on-budget item) project will have a negative or neutral impact on meeting the budget. From what I understand, opening is delayed and costs are anticipated to be higher. This year’s impact of the wound care program was small regardless.
6. Additional IGT funds may become available. I find this hard to believe and a diligent Google search does not reveal to me, the news that there might be an additional 700k available to Alameda for the current fiscal year. Of course, the news would be that IGT funds were doubled rather than a specific reference to the District. I just cannot find anything. Maybe someone can provide me with a link or I will ask Management at the next meeting we are at together for pointers to this information.
With all these irons in the fire along with the slim, in my opinion, chance that Management execute against the originally approved budget, the District could still meet it’s 2011/2012 income goal. Hopefully, management has enough time and energy to stay on top of all of these projects. I am not encouraged in that hope by today’s lack of financial results.