Listed on the agenda of the McHenry County Board’s Finance and Audit Committee for Thursday, March 31st at 8:15 AM is the following under Old Business:
Discussion: Capital Plan Finance Options
There has been talk of borrowing from the huge surplus in the Valley Hi Nursing Home fund–over $42 million at last look.
At the February 24th meeting of the Valley Hi Operating Board County Board member Jim Heisler brought up that possibility.
According to the meeting minutes, Heisler explained such a loan or loans “would reduce the reserves and allow for a potential future revenue stream as the loan is paid back with interest.”