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HHC leaders warn state budget decisions, proposed long‑term care fee increase could affect corporation revenue
Summary
Health and Hospital Corporation CEO Paul Babcock and interim CFO James Simpson told trustees the corporation is monitoring state budget developments, a potential rise in the long‑term care quality assessment fee, and is preparing a bond refinancing to reduce exposure to federal tax changes.
Health and Hospital Corporation President and CEO Paul Babcock briefed the board on April 15 about pending state budget activity and possible policy changes that could affect the corporation’s revenue, and Interim CFO James Simpson delivered a general fund financial update through March 31.
Babcock said both the governor’s and the state House budgets included HCI funding for the corporation but the Senate’s amended budget to House Bill 1001 did not. He said HHC leadership has met with the governor’s office, House leadership and the Marion County delegation to press for restoration of that funding. “We think we have a good shot of that, but…
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