RECOMMENDATION(S):
AUTHORIZE the West Contra Costa Healthcare District (Fund 213500) to be an interest bearing account.
FISCAL IMPACT:
Approval of this recommendation would provide that interest earned on the cash balance of this fund would be accrued within the District fund rather than going to the General Fund.
BACKGROUND:
The West Contra Costa Healthcare District (the “District”) struggled financially for decades, experiencing increasing costs, declining reimbursements, and growing service demand from uninsured and underinsured populations. After emerging from bankruptcy in 2006, the District fell deeper into debt. In 2015, it closed its hospital, Doctors Medical Center, which was a full-service acute care facility with 124 general acute care beds.
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