1. From the Board meeting:
a. The process of referring an item to the agenda for Board consideration was clarifies although I found the earlier dual process without conflict. The basic outline is more formal than I desire, but still preserves the prerogative of 2 Board members to add an item that the Board President opposes.
b. The District lost only $18000 last month. The accrual reversal was 96,000 so, without that reversal, the loss would have been about what I had previously estimated. 113,000 remains of accruals that could be reversed at Management’s discretion.
c. The District appears to have had a strong November. I am skeptical that this will mean a positive bottom line although it is certainly possible – it’s only one month. Clearly the Water’s Edge acquisition offers a positive contribution, but since it comes with multiple albatrosses, not the least of which, is a requirement to keep the acute care hospital open (or it loses the “distinct part” benefit), it was the wrong direction to go.
2. The Ninth Circuit lifted the AB97 injunction which I had anticipated to be more likely than not. The District reserve quite a bit for this circumstance (based on what the auditor reported). Management will report at the next Board meeting how much additional has to be reserved for this change. The California legislature is now controlled by Democrats with a super-majority so maybe legislative relief is possible – ask Rob Bonta.
3. The application process for the Board seat vacated by Stewart Chen is ongoing. Thursday, January 3 is the last day to apply so, if you were considering it, you may have to scramble. Unfortunately, there is little chance that the Board majority would allow someone with the idea of closing the Hospital on, but perhaps you enjoy quixotic efforts. Several times I have referred to the previous application process where the odious Williams was chosen where it was ridiculously obvious that she was the designated choice. Unless you have been solicited to apply by one of the Board majority, don’t count on having a chance of actually serving.