Health Facilities Authority approves donation of surplus funds, accepts 2025 report

The City of South Miami Health Facilities Authority voted unanimously on Feb. 9 to approve a resolution donating surplus authority funds to the City and to transmit the authority's 2025 annual report.

The resolution, read into the record by staff, "approves the donation of the surplus funds to the city, and it also, approves the annual report for 2025, which is attached to the resolution." The text shown to the board references the authority's issuance of hospital revenue bonds in 2025 in an aggregate principal amount not to exceed $500,000,000 to Baptist Health South Florida.

Board members moved and seconded the motion to approve the resolution. The vote was recorded in favor by Chair Del Castillo, Vice Chair Reynolds, Member Kelly, Member Fuentes and Member Alonso; the facilitator announced, "Item passes four-zero, I mean, five-zero." The approval authorizes donation of surplus funds to the City of South Miami; by statute and city code the City Commission will determine how the funds are appropriated, provided they are used for nonprofit human health-service agencies.

Board members asked about next steps. Alfredo, identified at the meeting as the City chief financial officer, said the City Commission is expected to consider the item at its first March meeting (anticipated March 3), at which time the commission could ratify the authority's action and discuss allocation options. Alfredo said he would update the authority members after the commission's meeting.

The authority's action covers both the donation of surplus funds and the transmittal of the annual report required while the related debt remains outstanding.