Saturday, November 28, 2009

Acting CFO - HUH Report

Acting CFO, Vincent Riccitelli presents the details of the financials and audit results and action plan at the hospital last Monday night.  He replaced the former CFO, Ron DeVito.  Along with the financial details mentioned is the $13MM for the current year.

Hospital CEO Spiros Hateras discusses the plan to close the current operating deficit of $1MM a month.

Reader Bob's Uncle posted earlier information from his "protest website" with more details on where things were at the time the hospital was St. Mary's. 

Related: Hoboken Now on the resignation and higher than forecast losses.

Back to reality: HUH?

Councilwoman Beth Mason asks some questions of the Hoboken University Hospital regarding cash flow and finances. We've edited this down to less than five minutes. Some of the latter exchanges were somewhat testy but not central to the discussion. What's important is the financial snapshot of the hospital's operating liquidity. What you learn is that on the day of this report, the hospital still had in the ballpark of six figures, $150,000. Not much better than the cash balance reported earlier of $94,000. This is the reality they and we as Hoboken residents are up against and illustrates how tight things are at the hospital.

Share some thanks

We're not done yet.  Get the kids involved - it's ideal.