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Commission approves $382,450 Laguna Honda resident gift fund budget
Summary
The commission approved Laguna Honda Hospital's resident gift fund budget of $382,450 for fiscal year 2017-18; staff said the funds come mainly from the gift fund balance and noted a roughly $2.8 million combined balance across gift funds as of third quarter.
The Health Commission approved an annual resident gift fund budget of $382,450 for Laguna Honda Hospital for fiscal year 2017-18 after a staff presentation and commissioner questions about historical context and funding sources.
"I'm here to represent the Laguna Honda gift fund management committee to ask for your approval of our resident gift fund annual budget of $382,450 for fiscal year 2017-18," Cha Ma, chief financial officer at Laguna Honda Hospital, told the commission.
Cha Ma said the increase of about $80,000 from the prior year reflected a new line item to sponsor a nonprofit "medical clown" program and other recurring items tied to resident activities. She told commissioners the gift fund is funded mainly from the cumulative fund balance and reported that as of the third quarter the combined balance across gift funds was about $2,800,000, which includes donations, converted stock and interest.
Commissioners asked for clearer historical expenditure context and for a one-page list of awards granted in the prior year so the full commission would have better background when voting. Commissioner Sanchez recommended including a brief allocation summary in future reports. After discussion, a motion to accept the gift fund report was moved and seconded and approved by voice vote.
The approval covered specified line items and the committee's allocation process; commissioners and staff said they would provide additional documentation next year to show prior-year allocations and spending.
