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15 October 2007
at 4:36 p.m.
I think the whole Medicare needs to be reviewed at the Federal level, and at the local level, I think this hospital will be just like the Justice Center fiasco. The hospital will have to use those operating funds from the mill levy (which should have been only for Capital improvements rather than a sneaky move by their lawyers) just to make the payments. And I agree that Stan will need to have a personalized cornerstones at both buildings. Too bad the Board and CEO can't see through the smoke and mirrors and realize that Moffat County can't afford this mill levy for 40 years. Seems like the government trough will be crowded again.Patt Mc Caffrey
15 October 2007
at 10:58 a.m.
DepreciationDepreciation Benefits:The use of depreciation affects the financial statements and in some countries the taxes of companies and individuals. The recording of depreciation will cause an expense to be recognized, thereby lowering stated profits on the income statement, while the net value of the asset (the portion of the historical cost of the asset that remains to provide future value to the company) will decline on the balance sheet. Depreciation reported for accounting and tax purposes may differ substantially. Depreciation and its related concept, amortization (generally, the depreciation of intangible assets), are non-cash expenses. Neither depreciation nor amortization will directly affect the cash flow of a company, as both are accounting representations of expenses attributable to a given period. So explain again, how the hospital will benefit from Medicare and it's payments for a new hospital. Seems like a flim flam since the hospital isn't making money or income to support the new hospital. Some of the taxpayers will be dead long before this mill levy is finally sunseted. Or else, the board will come back for additional funds. Revenue attributable to “Critical Access Status” to paraphrase seems to be like subsidy, sort of like being paid not to farm. I think having a hospital in Moffat County is very good, but not at the costs you are asking for us to supplement. Privatization might be the best solution to the problem. Let the stockholders pay for the new hospital, and if no one will take the hook, maybe the feasibility study wasn't as viable as some of the Board members thought at the presentation. Patt Mc Caffrey
13 October 2007
at 11:12 a.m.
Thanks for the information. Do we have blueprints for this project? How much did they cost? Are they current or are we starting at square one again. Please explain how using depreciation incentives will help with cash flow? Unless I forgot Economics 201 and Accounting 301 (required for my Degree), that is not income, just postings. Maybe we need a private hospital rather than one that depends upon taxpayers to foot the bill. Thanks for letting me know the largest taxpayers, as a stockholder of two of those, I can contact them. What is the avergage Ag, Commerical/Industrial taxpayers will required to pay annually?Thanks for your prompt reponses….Patt Mc Caffrey
13 October 2007
at 10:03 a.m.
Sam,Thanks for providing insight into why we will end up with another Justice Center fiasco. I also wonder how much the hosptial board has spent for preliminary work for blueprints. I don't like the wording of the initiative because it allows money (that 1.5 Million) used for operating and capital improvements. I think Stan has a good idea to wait another year to make sure the hospital has enough $$ to pay for this new hospital. Also, where does the hospital post the money received from the county? Income Revenue? I don't think the county can afford this new hospital but then again, I just a taxpayer who is tired of all these mill levies. You never post what the largest property owners will be paying for all of this — just the residential, and most of the people don't realize that all the business costs will filter down to them also.Patricia Mc Caffrey
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