Clay County Officials Wondering Whether Hospital Money is Missing

Clay County board members have heard from Clay County Hospital officials that hospital assets may be missing.

Hospital CFO Mike Hobbs told county board members that when attempting to reconcile cash accounts, a shortfall of $209,000 was discovered. It was also learned that the discrepancy was noted in audits dating back as far as 2008, but county board members seemed unaware of the matter.

Further information was shared that $990,000 of hospital inventory is unaccounted for, with some items dating back as far as 1973 on the books. Back then, even software was listed as inventory, and a new hospital has been built since then, so that could account for much of the discrepancy as new items were purchased for the new facility. The recommendation from hospital officials is that, due to depreciation, all but $90,000 of the $990,000 in inventory should be written off.

In the meantime, county board members are wondering why ledger entries hadn't been double-checked to make sure the ledger matched bank statements.

The county board's finance committee is to obtain additional information and make a recommendation to the full board as to whether a forensic audit should be conducted to help determine whether resources are missing and, if so, why.

Also, Hobbs and the county board discussed whether bonds issued to help pay for the new hospital building should be refinanced to obtain a lower interest rate. Initial discussion was that the bonds should not be refinanced and that as many as possible should be paid off.

The Board also heard from Xenia village officials who wanted public safety tax funds to help pay for their part-time police officer. The village officials were asked to come back with an itemized request. Board members also appointed Kevin Logan for the Clay County Board of Review for a two-year term, and reappointed Hugh Kessler to a three-year term on the Farmland Assessment Review Committee. Also approved was a bridge aid petition from Larkinsburg Township for a culvert replacement on Dairy Drive.