Tonight there is a a public meeting at 7PM at the HUMC. The hot topic promises to be the state of the Hospitals's Finances. Here is some reference materials in the meantime. I will add more information to this post later in the afternoon. I, along with The Hoboken Horse blog plan to cover this important meeting.
Below is a link to a October story in the Hoboken Journal where Dawn Zimmer Releases HUMC 2008 Audit Findings:
http://thehobokenjournal.blogspot.com/2009/10/dawn-zimmer-responds-to-release-of-humc.html
Here are the attachments for that Audit release:
HUMC_grant_cover_memo.pdf
HeatherHowardCommissioner.pdf
LOR_08_Final.pdf
HMHA_full_2008_report.pdf
Full_Synopsis_hoboken_2008.pdf
Below is a story I did with the help of Scott Siegel in May on what appearred to be some Financial gimmickery on the part of the HUMC with respect to the bonding and interest only payments all the way to the year 2027:
http://thehobokenjournal.blogspot.com/2009/05/humc-refinances-bond-interest-only.html
Here is a recent article from Timothy J. Carol of the Hoboken Reporter where he interviews CEO Spiros Hatirus on the Hospitals stituation . "The State has to pay up" - Spiros Hatirus :
http://tinyurl.com/ygekorm
Reader Katie_Scarlett has provided links to documents on each of the Hospital Bonds:
1) $40,465,000 City of Hoboken Guaranteed Hospital Revenue Bonds, Series 2007A (Federally Taxable)(Convertible to Tax-Exempt) and $11,170,000 City of Hoboken Guaranteed Hospital Revenue Bonds, Series 2007B (Federally Taxable)
First Bond Issue - $52 Million Total
2) Below were short term debt obligations issued in 2008 to the tune of $9,720,000:
Series 2008 - $9,720,000 in total
3) These were issued to pay the above off:
Series 2009 - $9,720,000 in total
4) Supplement explaining the Bond Insurance Ratings Downgrade and the underlying junk bond status of Hoboken:
2009 Supplement and Bond Rating Downgrade
For those of you who "know" all about bonds, the CUSIPs are posted on at least a few of those Official Statements. Happy researching! :) ◦
