IV-D-17 Business Transactions Business transactions between the Hospital and Hospital – officials are detailed as follows: This does not appear to be a voidable conflict of interest pursuant to Chapter 347.9A(2)(a) of the Code of Iowa which permits a direct interest of less than or equal to $1,500 of transactions between a Hospital Trustee or a Hospital Trustee’s spouse and the Hospital. IV-E-17 Board Minutes No transactions were found that we believe should have been – approved in the Board minutes but were not. IV-F-17 Deposits and Investments No instances of non-compliance with the deposit and – investment provisions of Chapters 12B and 12C of the Code of Iowa and the Hospital’s investment policy were IV-G-17 Publication of Bills Allowed and Salaries Chapter 347.13(11) of the Code of Iowa – states, shall be published quarterly in each of the official newspapers of the “There county as selected by the board of supervisors pursuant to section 349.1 the schedule of bills allowed and there shall be published annually in such newspapers the schedule of salaries paid by job classification and category...”. The Hospital did not publish a schedule of bills allowed or a schedule of salaries paid as required by the Code of Iowa. Recommendation The Hospital should publish the schedule of allowed and – salaries by job classification in accordance with Chapter 347.13(11) of the Code of Iowa and a Supreme Court decision dated September 18, 1996. Response The Hospital will comply with the publishing requirements set forth in – Chapter 347.13(11) of the Code of Iowa and the Supreme Court Case dated September 18, 1996. Conclusion Response accepted. – IV-H-17 Financial Condition The Hospital has a deficit unrestricted fund balance of – $2,018,980 at June 30, 2017. Recommendation The Hospital should investigate alternatives to eliminate this – deficit to return this fund to a sound financial position. Response The deficit was the result of recognizing the Hospital’s proportionate – share of IPERS’ net pension liability. The Hospital realizes this liability is not due and payable immediately. Rather the pension liability will be paid down over a period of time with the Hospital’s future employer share of IPERS contributions. Conclusion Response accepted. –
IV-D-17 Business Transactions – Business transactions between the Hospital and Hospital officials are detailed as follows: This does not appear to be a voidable conflict of interest pursuant to Chapter 347.9A(2)(a) of the Code of Iowa which permits a direct interest of less than or equal to $1,500 of transactions between a Hospital Trustee or a Hospital Trustee’s spouse and the Hospital. IV-E-17 Board Minutes – No transactions were found that we believe should have been approved in the Board minutes but were not. IV-F-17 Deposits and Investments – No instances of non-compliance with the deposit and investment provisions of Chapters 12B and 12C of the Code of Iowa and the Hospital’s investment policy were IV-G-17 Publication of Bills Allowed and Salaries – Chapter 347.13(11) of the Code of Iowa states, “There shall be published quarterly in each of the official newspapers of the county as selected by the board of supervisors pursuant to section 349.1 the schedule of bills allowed and there shall be published annually in such newspapers the schedule of salaries paid by job classification and category...”. The Hospital did not publish a schedule of bills allowed or a schedule of salaries paid as required by the Code of Iowa. Recommendation – The Hospital should publish the schedule of allowed and salaries by job classification in accordance with Chapter 347.13(11) of the Code of Iowa and a Supreme Court decision dated September 18, 1996. Response – The Hospital will comply with the publishing requirements set forth in Chapter 347.13(11) of the Code of Iowa and the Supreme Court Case dated September 18, 1996. Conclusion – Response accepted. IV-H-17 Financial Condition – The Hospital has a deficit unrestricted fund balance of $2,018,980 at June 30, 2017. Recommendation – The Hospital should investigate alternatives to eliminate this deficit to return this fund to a sound financial position. Response – The deficit was the result of recognizing the Hospital’s proportionate share of IPERS’ net pension liability. The Hospital realizes this liability is not due and payable immediately. Rather the pension liability will be paid down over a period of time with the Hospital’s future employer share of IPERS contributions. Conclusion – Response accepted.
17HospitalSampleReport_A9F1DFCA194E3.docx