USDA officials request additional time to evaluate DCHS $24.6M loan application
USDA officials have requested additional time to evaluate the Dickinson County Healthcare System's $24.6 million dollar loan application.
At Tuesday night’s board of trustees meeting, DCHS’ Interim Chief Financial Officer Jerry Worden, said USDA officials are pleased with the financial turnaround efforts that the hospital implemented and the USDA will continue to monitor progress at DCHS and would like to see a continuation of steady financial performance.
"While it's disappointing not to have this completed by the end of the year, I think we're moving into next year with an optimistic perspective, that we'll get it completed in the first 3 to 4 months or at least get a firm perspective as to when this can wrap up,” said DCHS’ President and CEO Chuck Nelson.
In the meantime, the hospital will move forward and figure out what they can and can't do with their finances. Nelson said they will pursue vendors they have been working with.
The board also announced that the hospital currently has 59 days of cash, which is more than double the amount of last years.
They will be presenting their 2020 budget on Dec. 19.