OHH Foundation Board Meeting, June 1
The Board of Directors of the Olney Hamilton Hospital Foundation met Monday, June 1, 2020 at 5:40 PM. (Conducted by way of Zoom). The following members were present: Dr. Steve Atchley, Lewis Farmer, Don Mathews, Mark McClelland, Kendall Montgomery, and Carla Perry. Members absent: Carl Craig, Marilyn Ickert, Trina Johnson, and Bill Price. Present also were Hamilton Hospital CEO Mike Huff, Board President Dale Lovett, and Olney Enterprise Editor, Ethan Nickel.
President Lewis Farmer called the meeting to order. He then asked the members to review the minutes of the annual April 8, 2019 meeting. Kendall Montgomery made the motion to accept the minutes as read, Mark McClelland seconded, the motion carried.
Next on the agenda: Report on the Wellness Center. In the absence of Missy Reed, program, event and marketing manager, Mike Huff gave the following report: On March 17, 2020 due to the COVID-19 Pandemic the Wellness Center had to be closed. The clinic was able to re open May 18, 2020 but with restrictions in place. He continued that since opening the Center 7 years ago, it continues to maintain 525 members. He explained that preventative maintenance is performed on all the equipment every quarter and that it may be time to look into upgrades. The generous contributions from the Foundation has enabled the ordering of over $16,000 worth of equipment. Please note the attached 2 pages for more information.
President Farmer called for the Finance Committee (Carl Craig, Lewis Farmer, Mark McClelland) report. Financial Investment Chairman Mark McClelland asked that the board review the attached Profit and Loss and Financial Statements. He explained the income and expense amounts noting the $95,152.00 security growth, donations of $39,050.00 (commenting on the people’s generosity up almost $9,000.00 from the previous year) and reviewed the expenses of $51,144.00. He said to note the February 29, 2020 Schwab amount of $2,101,558.00. He continued that on January 1, 2020 to this morning June 1, 2020 that investments were only down 4 or 5% for the year and considering the volatility of the market and thankfully the speedy recovery; because before that, the portfolio was down considerably more.
President Farmer thanked Mark for the report. He then reminded the board members that, after receiving a needs list from Mike Huff on April 7th, board members were contacted and verbally approved a distribution of $31,500 from the Foundation, which was sent on April 8, 2020. A motion to approve this distribution retroactively was made by Dr. Steve Atchley and seconded by Mark McClelland. Motion passed.
The next item of business was Hamilton Hospital CEO Mike Huff report: He began by saying that donations were very welcomed but before getting into hospital needs, etc., he wanted to thank Dr. Steve Atchley for the $500.00 donation to the hospital and that it was being used to honor the employee of the quarter.
He continued about receipt of stimulus money and ways that it would be put to use for hospital improvements and developing Facebook etc. about the Hospital safety measures. He explained about the Tax Cap on the ballot in November. For more detailed information please refer to attached CEO update sheet.
President Farmer said that the final item of business was the election of officers for 2020. Mark McClelland made the motion that we keep the same slate of officers. Kendal Montgomery seconded, the motion carried.
There being no further business, the meeting was adjourned at 6:29 PM.