Valley Health System Group Return

“In 2014, significant changes were made to the Articles of Incorporation and corporate bylaws for East Mountain Health Advantage, Inc. (EMHA) and Page Memorial Hospital (PMH). The exempt purposes of both entities were unchanged. However, the governance documents were amended to reflect that Valley Health System, as corporate parent, had primary authority for financial decision-making for EMHA and PMH. Other significant changes included revisions to the duties and responsibilities of the EMHA and PMH board as well as the number and composition of board members.”

“The corporation shall have two classes of members: regular and honorary. The number of regular members shall not exceed 100. In addition, there may be an unlimited number of honorary members. Qualifications for both classes of membership shall be established in the Bylaws of the Corporation. Honorary members have no voting or any other rights whatsoever. Regular members shall have voting rights soley with respect to the election of regular members, honorary members and trustees, as established in the Bylaws of the Corporation.”

“The 990 is prepared by internal staff and undergoes several levels of review including the CFO and CEO. Further, the board reviews the 990 during one of its recurring monthly meetings where any issues of concern or question are addressed by Senior Management.”

“All employees that are managers, have purchasing rights with defined limits, or may enter into a contract on behalf of the organization are required to sign a conflict of interest attestation upon employment and annually. All employees can report breaches in VH policy. VH has an employee integrity hotline and a compliance officer. The audit committee is advised of compliance activity on a quarterly basis in addition to monthly follow up by the CEO on any immediate issues. Any infractions can result in disciplinary action or dismissal.”

“The Board of Trustees is responsible for the compensation review. They use compensation literature and outside consultants to determine the appropriate compensation for the CEO, Officers, and Senior Management. As new individuals are hired into management positions, recruiting firms use FMV information to establish salary and general compensation levels.”

“The organization makes all records available as required by law.”

“Other program services 4: rehabililitation services - 7,158 rehabilitation inpatient days other program services 5: long term care services - 63,889 inpatient long term care days other program services 6: ambulatory surgical services - 13,549 surgical procedures other program services 7: physician practice services - 120,689 outpatient registrations”

“Gain/loss on interest rate swapq = -$13075965”

“OTHER CHANGES = $169299”

“Pension liability adjustment = -$65256794”

“Transfers to affiliates = $2229758”