New Pinckneyville Hospital on Hold
</element><element id="paragraph-1" type="body"><![CDATA[The earliest Pinckneyville Community Hospital can move forward with plans for a new hospital would be late summer or early fall of this year.
PNC Bank is still interested in working with Pinckneyville Community Hospital on a mortgage for a new facility, but needs to see six consecutive months of positive financial reports before moving forward.
PCH plans to apply for a USDA loan guarantee for the $34 million new facility. However, any amount over $30 million requires the bank to shoulder 20 percent of the loan without a guarantee.
"Because of the 80/20 split, PNC needs to see that we can make the mortgage payments," Hospital Administrator Tom Hudgins said following Monday's board meeting.
The financial report for December 2010 showed an operating loss of $132,186 and a net loss of $103,133. The year-to-date operating loss is $179,857. The bottom line is still in the black with a year-to-date net income of $70,253.
"We're working on some things internally on the expense and operations side," Hudgins said. "That's all we can control."
In other business, the board:
approved an across-the-board price increase for hospital services that averages just under five percent. The new prices are effective May 1.
selected Wipfli as the new auditing firm for the hospital. Wipfli had the lowest price of the five firms that bid with a maximum cost of $35,200.
approved a memorandum of understanding with the Perry County Emergency Management Agency for mutual aid.
heard that the hospital will participate in Career Day at Pinckneyville Community High School on March 4.
heard that the hospital received a five percent credit on liability insurance coverage worth between $7,000 and $8,000. PCH has received a similar credit for the past several years by meeting guidelines set by the insurer.