The Park Hospital District Board is set to discuss several unresolved financial and legal issues Tuesday morning, including how money flows from UCHealth to the district and how the district will pay obligations tied to the termination of its former hospital retirement plan.
The board will open its 8 a.m. meeting with an executive session to discuss legal advice previously received from its counsel concerning the Ascensus retirement plan and related financial obligations.
According to the agenda, board members will also discuss legal advice involving a proposed memorandum of understanding with UCHealth, including the flow of funds between the two organizations and related budget matters.
The closed-door discussion comes as the district faces a financial shortfall after its expenses exceeded the $200,000 in annual property tax revenue it is allowed to retain under its affiliation agreement with UCHealth.
UCHealth assumed operations formerly provided by Estes Park Health in December. Under the affiliation agreement approved last year, the district retained responsibility for certain administrative, legal, and financial obligations while limiting the amount of property tax revenue available for those functions.
After returning to open session on Tuesday, the board is scheduled to consider the proposed UCHealth memorandum of understanding, a budget request, and the flow of funds. The agenda lists the matters for discussion and possible action.
The board may also act on work plans and financial obligations related to the termination of the Estes Park Medical Center retirement plan administered through Ascensus.
Those obligations have emerged as unanticipated district expenses and contributed to questions about whether the district has sufficient funding to meet its responsibilities through the remainder of the year.
The board will also consider proposed resolutions regarding Hall Render, the district’s legal counsel. The agenda does not specify the substance of the proposed resolutions.
In a prior meeting, Director Tom Leigh requested that the board consider terminating a work agreement with Hall Render.
Leigh contends that the legal firm’s invoices to PHD, totaling approximately $250,000, are invalid because the attorneys’ work was unauthorized by the entire board of directors.
As part of the termination proposal, Leigh has proposed that PHD suspend any further payments to Hall Render and seek a refund for “unauthorized payments” already remitted to the company. Leigh maintains that attorneys “had full knowledge that only $50,000 had been budgeted for legal fees.”
In addition to the financial and legal matters, board members will discuss developing a mission, vision, and core values for the district and review a board governance dashboard and governance resources.
The meeting will be held at the district’s administration office at Vert, 1280 Big Thompson Ave. Citizen and board comments are scheduled near the end of the meeting.