Present:  Directors   Tobias, Heinisch,, Ubl,  Dubin
Absent Directors:  Kloster, Daugherty, Casella

Also Present:   Scavotto, C. Anderson, P. Anderson, Bockman

Chair Heinisch called the meeting to order at 7:05 am.

A quorum was established and the agenda was approved as submitted (Motion by Ubl (second Tobias). Minutes of the previous meeting were reviewed and approved by unanimous consent (motion Tobias, second Dubin).
 

Old Business: None

New Business

Management Report: Scavotto briefly summarized operating performance for September and October. October’s revenues are still under review. However, the initial indication is that October will show significant operating gain, making year-to-date operations profitable. November census has declined due to the onset of the holiday season and we anticipate lower revenues absent the effect of the restructured IGT.

Scavotto reviewed status of the restructured IGT with the anticipated increases in Medicaid revenues given the volume and rate assumptions that have been communicated by HFS. The restructured IGT is in effect November 1.

SLF: Bockman led a discussion on Supportive Living and updated the Board on the status of the financing and terms of the deal with Pine View. The current timetable calls for construction to begin in March or April 2007.

Next Meeting

January 24, 2007. Meeting adjourned at 7:45 AM. (motion Dubin, second Ubl, unanimous).

Respectfully submitted.

Catherine Anderson

Recording Secretary