The Griffin Hospital

“Gregory boris, d.o. (trustee) is the director of the emergency department for connecticut emergency medicine specialists. David j. Hendricks, m.d. (trustee) is a consultant for connecticut emergency medicine specialists. Griffin hospital retained the services of connecticut emergency medicine specialists to oversee the emergency department.”

“The board of trustees makes recommendations to the incorporators of the hospital regarding nominations of members of the community to serve as trustees.”

“Form 990 is reviewed by management prior to filing.”

“Each year all members of the hospital board, officers, directors, and key employees receive, sign, and submit a conflict of interest disclosure. The disclosures are reviewed by the hospital board and documented in the minutes. Any disclosure of a conflict prevents the individual from involvement with or participation in subject matter than might affect the disclosed conflict. All conflicts are disclosed at the annual meeting.”

“Compensation of officers and key employees are reviewed annually by the compensation committee which is a subcommittee of the hospital board. This committee sets the compensation for the ceo based on industry data. Compensation of other officers and directors is set by the ceo based on industry data.”

“The governing documents are filed with the office of health care access and are available to the public upon request.”

“Transfers between affiliates -6,839,758. Minimum pension liability adjustment -10,758,389. Change in net assets of affiliate 1,444,294. Change in beneficial interest in trusts 131,627. Change in fair value of interest rate swaps -2,666,937. Net pension credit 2,538,888.”

“The board of trustees is responsible for selecting an independent audit firm and for overseeing the financial statement preparation process. There have been no changes in these procedures since the prior year.”

“Net pension credit - the hospital froze the defined benefit pension plan effective march 31, 2016 and introduced an employer 403(b) match and core contribution to the existing griffin hospital 403(b) retirement savings plan. Effective with the freeze, no further benefits will accrue to plan participants. The freezing of the plan constituted a curtailment, the recognition of which was reflected in the year ended september 30, 2016. The curtailment resulted in recognition of 100% of the negative prior service cost of $5,613,532 which offset the net periodic benefit cost of $3,074,644 resulting in a net pension credit to expense of $2,538,888 for the year ended september 30, 2016.”