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OSU Medical Authority seeks $90 million to limit borrowing for Tulsa medical campus expansion
Summary
OSU Medical Authority leaders briefed the committee on multiple Tulsa campus projects — psychiatric center, VA hospital coordination and a $200 million hospital expansion — and requested a $90 million one‑time infusion to reduce borrowing costs and preserve cash flow.
Eric Pollock, chief executive officer of the Oklahoma State University Medical Authority and Trust, told the committee the authority’s role is to operate the OSU Medical Center in Tulsa and to channel legislative priorities to the university for medical education, research and facilities.
Scope of projects: Pollock described multiple capital initiatives advancing on the OSU Medical Center campus: the Oklahoma Psychiatric Care Center (private philanthropy plus state support), a $200 million expansion that includes a pharmaceutical research and development laboratory and new operating suites, a new parking garage, and a federally funded veterans hospital sited adjacent to campus. He said the psychiatric center had raised just over $20 million in private philanthropic support and that steel and foundations were in place.
Why the request: The authority presented a one‑time ask of $90 million to reduce debt service and preserve hospital cash‑on‑hand. Pollock said the OSU team modeled several financing options for roughly $236 million of major projects; with a $90 million cash contribution the authority would avoid an estimated $84 million in interest over the life of debt and maintain about 120 days cash on hand. Without a larger cash contribution, Pollock said the authority would borrow more and reduce its days‑cash‑on‑hand.
Budget mechanics and partners: Pollock explained the authority operates largely through transfers to Oklahoma State University under cooperative agreements and that some appropriations reflect pass‑through legacy capital and ARPA dollars. He described the authority’s blended staffing arrangement—some trust employees and university staff assigned to the authority—so the agency shows few direct FTEs.
Other priorities and constraints: The authority cited inflation and construction lead‑time pressures, continued costs to convert agency reliance on contract nurses to employed staff, and the need to preserve operating liquidity. Pollock also described OSU’s collaboration with the VA and with local health systems to add specialty services, and said the authority is exploring whether state borrowing or other vehicles could lower financing costs.
Committee follow up: Pollock asked the committee for guidance on how much the legislature would permit the authority to commit in cash and flagged the timing: several construction documents and bids were scheduled in the coming weeks. He said OSU Medical Authority leaders would continue coordinating with the committee’s Tulsa members and the appropriations chair to refine numbers.
Ending: Pollock closed by inviting members to tour the Tulsa campus and emphasizing that the projects are designed both to expand specialty services in northeast Oklahoma and to reduce reliance on expensive contract staff.
