Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Health System Finance topic
No spam. Unsubscribe anytime.
Board clarifies repayment terms for $4 million interfund loan to Wyoming County Community Health System
Summary
Supervisors amended the interfund loan terms for the county's $4.0 million advance to Wyoming County Community Health System, tightening repayment triggers tied to state DPT funds, FEMA reconciliation and transformation grant project completion.
The Wyoming County Board on July 14 amended its earlier interfund loan resolution for the Wyoming County Community Health System to clarify repayment conditions.
Resolution No. 26‑384 restated the $4.0 million advance funding split ($2.0 million Accounts Payable Relief; $2.0 million Transformation Grant for surgical suites) and added specific repayment triggers. The hospital will repay the Accounts Payable Relief portion when New York State releases 2026 DPT funding and FEMA disburses final reconciliation funds or by the end of fiscal year 2026, whichever comes first. The Transformation Grant advance funding must be repaid within 60 days of completion of the Transformation Grant construction project; interest applies if the loan extends beyond 2026.
The amendment was presented by Finance Committee chair Mr. Kehl and carried unanimously. The board recorded this as an administrative adjustment to the earlier June 9 resolution to ensure clearer timelines for repayment and to reflect construction timing for the transformation grant.
