What Happend To The Hospitals $27.5 Million?

[Bill Call]

In 2007 Lakewood Hospital had $32.9 million in cash and short term investments.
In 2008 Lakewood Hospital had $5.4 million in cash and short term investments.

There was no large decrease in debt.
There was no large increase in long term assets.
The decline in cash was attributed to a loss on investments and listed as a line item on the income statement.
The notes to the financial statements report that the cash and cash equivalents are invested in money markets.

How does a money market lose 84% of its value in one year?

2008.pdf

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[Bridget Conant]

Great question. Will anyone step up and answer or will it be just like the parking garage revenue that no one can account for?

[cameron karslake]

...and Ms. Madigan wonders why the citizenry think that someone is "on the take".

2008 did usher in a crash of sorts, but not an 84% crash! Way too much $ has gone "missing, unaccounted for" to not think someone's making out like a bandit.