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Health commission adopts Laguna Honda gift fund budget and updates policy
Summary
The commission approved Laguna Honda Hospital’s gift fund budget for FY 2018–19 and adopted minor revisions to the gift fund management policy to reflect a new citywide financial system; staff explained a proposed increase in next-year spending to $471,000 and noted a current gift fund balance of about $2.7 million.
Cha Ma, chief financial officer filling in for Laguna Honda, presented the hospital’s gift fund budget for fiscal year 2018–19 and requested commission approval. Ma said the current gift fund balance was about $2,700,000 (per the third-quarter gift fund balance report) and asked the commission to approve a proposed gift fund spending plan of $471,000 for the next year. Ma said the increase primarily reflects a change in the Friends of Laguna…
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