Present:  Directors   Tobias, ,Ubl,  Dubin, Kloster, Daugherty, Casella
Absent Directors:  None

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

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

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

 

Old Business: None

New Business

 

Management Report: Scavotto briefly summarized operating performance for October. October is showing significant profit because of the IGT; however, the majority of October’s gain will be recognized as increased expenses in November. November’s statements are still being checked because of the newness and complexity of the IGT transactions; also, at this time of the year, the books are held open due to year-end closing. The auditors will be brought in to examine the IGT entries. Preliminary assessment of November’s performance was a loss of $35k before IGT.

Census has remained up since the holiday break. Last year the nursing home experienced several consecutive months of decreased census; this year, we are not seeing this pattern repeat.

C. Anderson reviewed the facility Quality Indicators highlighting variance from the State norms. There are some areas needing improvement. These were reviewed for the Board; nursing is working on improvements.

Directors were asked to submit names of candidates for the Operating Board to Scavotto. The vacancy left by Jeanette Heinisch needs to be filled. In addition, the Board should elect a Chair and Vice Chair.

 

SLF: The Board reviewed the current organizational chart for the SLF transaction and, in discussion, clarified a number of points about the deal. The transaction will be moving towards a closing on the long-term debt. The Operating Board will be approving the transaction on behalf of the County Board and will receive a complete summary, including copies of the legal documents in the next several weeks.

Next Meeting:

March 21, 2007. Meeting adjourned at  8:15 AM. (motion Ubl, second Casella, unanimous).

Respectfully submitted.

Catherine Anderson

Recording Secretary