Olean General Hospital

“ENVIRONMENTAL SERVICES”

“The form 990 is reviewed by the organization's finance committee prior to filing.”

“In order to protect the hospital's interest when it is contemplating entering into a transaction or arrangement that may benefit the private interest of a director or officer, periodic reviews are conducted. The periodic reviews, at a minimum, include the following subjects: a. Whether compensation arrangements and benefits are reasonable and are the result of arm's-length bargaining b. Whether acquisitions or property and services from any person result in inurement or impermissible private benefit c. Whether partnership and joint venture arrangements and arrangements with management service organizations (if any) conform to written policies, are properly recorded, reflect reasonable payments for goods and services, further the corporation's charitable purposes, and do not result in inurement or impermissible private benefit d. Whether agreements to provide charitable services and agreements with other service providers and third parties further the corporation's charitable purposes and do not result in inurement of impermissible private benefit in conducting the periodic reviews, the hospital may, but need not, use outside advisors. If outside experts are used, their use shall not relieve the board of its responsibility for ensuring that periodic review are conducted.”

“The executive committee of the hospital d/b/a the executive compensation committee (the committee) is appointed by the board of directors to assist the board in establishing and overseeing the executive compensation program of the hospital. The committee is responsible for adhering to the overall compensation philosophy of the hospital. The compensation philosophy is a total compensation concept that will employ a combination of base salary, variable opportunity, flexible benefits, deferred compensation and other perquisites as may be needed from time to time to maintain a competitive position with peer institutions in the region.”

“The hospital has available, upon request to administration, its most recently filed form 990, governing documents and financial statements. The hospital also reports annually its community benefit efforts and issues annual report that includes financial and other information of interest to the public.”

“And coronary care, behavioral health, chronic dialysis, and 24 hour emergency services (including urgent care and a chest pain clinic) with an on-site helicopter for emergency transfer of patients requiring tertiary care. Additional services include diagnostic imaging, laboratory, cardiopulmonary, occupational wellness, diabetes teaching, patient education, radiation oncology, a sleep disorders center, outpatient primary care, and a dental center. Olean general hospital, in conjunction with the state university of new york at buffalo, sponsors new york state's only rural track post graduate medical education/residency training program.”

“Pension liability adjustment -4,728,509.”

“The audit committee assumes responsibility for the oversight of the audit, as well as the choice of an independent accountant. The process has not changed from the prior year.”