Even though the McHenry County Nursing Home (Valley Hi) had $40.8 million in the bank at the end of July and a budget of only about $10-11 million a year, the County Board is moving toward taxing another $3 million.
Look at the projected and past revenues and expenditures below and see, if you were running this as a private business, whether you would declare a massive dividend or not.
The Valley Hi Operating Board met last night at the Valley Hi Nursing Home in Hartland Township.
During the public comment period, I suggested that having about four times as much money in the bank as one spends each year surely could not be legal.
Discussing the budget, Administrator Peter Austin had five points to make:
- The levy has been cut from $6 million to $5 1/2 million to $4 1/2 million to$3 million.
- A “robust capital and asset preservation program” is being developed.
- A financial model to run different scenarios is available.
- How much is to be levied will be determined by a “stand alone vote at the Finance Committee.”
- The Legislature was approached to get a little more flexibility, to allow no levy for two years, but recapture over five years. “The Speaker’s Office didn’t want to hear of it.
“I’m not sure where we’re going to land this year,” Austin continued.
“We have it in now at the $3 million level.”
Prior to that explanation, McHenry County Board member Ken Koehler, a member of the Operating Committee, argued to a shift away from the break-even model now being pursued.
He pointed out that Valley Hi was conceived under the premise that the indigent and those unable to pay to take care of themselves would be cared for.
“…rehab wasn’t the reason people voted for the referendum.
“As Mr. Skinner has pointed out, we have a surplus, unintended, an extended waiting list, people in need.”