HOBOKEN–While today mayoral candidate Kimberly Glatt released a statement criticising Acting Mayor Dawn Zimmer for not notifying the public that Hoboken University Medical Center was appealing to the state for more funding, Zimmer had released a statement on the hospital yesterday to make public the hot-off-the-press HUMC audit.
The hospital has been operating at loss for a few years and news of a large deficit is not a secret, but Glatt said Zimmer should have brought the issue back into the public’s view when she saw this letter, sent late in August. Zimmer said she doesn’t remember when she first saw the letter, but wanted to wait for the release of the audit to accompany it.
Glatt said the city’s release of the information also coincided with the release of the document to her through an Open Public Records Act request.
Obviously the situation with the hospital is much more than just a campaign issue, so pick up a copy of this weekend’s Hoboken Reporter for an in-depth look at HUMC’s future.
From City Hall:
Hoboken Mayor Dawn Zimmer Responds to Release of Hoboken University Medical Center 2008 Audited Financial Statements
City of Hoboken, October 26, 2009 – Today, the Hoboken University Medical Center (HUMC) released its Audited Financial Statements for the fiscal year ended December 31, 2008, which will be posted on the City’s website. The Financial Statements make clear that the hospital continues to face serious financial difficulties. The Hospital incurred a loss from operations in 2008 in the amount of $22.3 million, leaving it with net assets at the end of 2008 of $13,435,124. This is down from net assets of $35,138,364 at the end of 2007.
For 147 years HUMC, formerly known as Saint Mary Hospital, has been the anchor for health care in Hoboken, as well as surrounding communities. It is an essential hospital for access to care for Hoboken’s diverse population of 40,000 residents including many seniors, as well as the health care safety-net for many young children, pregnant women, and people living with HIV/AIDS. The recently opened emergency room provides state of the art emergency services for Hoboken residents and surrounding communities. It also provides a facility to increase admissions to the hospital, a key to the hospital’s long-term financial viability.
As part of the original acquisition, Hoboken has guaranteed $52 million of the Hospital’s debt. Given our own fiscal problems, we are not in a financial position to guarantee additional debt or to provide operating subsidies. But within those limitations, I am fully committed to doing everything within my power to help the Hospital Board find a way to navigate through these difficult times.
The Hospital has recently applied to the New Jersey Department of Health and Senior Services for a critical Health Care Stabilization Grant. I coordinated with State Senator Brian Stack and Assemblyman Ruben Ramos, Jr., for their strong letters in support of the application. I also personally spoke to Commissioner Heather Howard to express my highest level of support for the application on behalf of the City of Hoboken. HUMC is well positioned to receive this grant which will greatly assist the hospital with its short term needs.
I want to thank my City Council colleagues for their quick action last Wednesday in approving my appointment of Tejal Desai to the Hospital Board. Her strong financial background will be of significant help as we move forward to face the extremely difficult challenges ahead.