FMC Board of Trustees Meeting – December 3rd 2025

FALLON MEDICAL COMPLEX, Inc.

BOARD OF TRUSTEES MEETING

Wednesday December 3, 2025

MEMBERS PRESENT                                                                  

Curt Arnell, President                                               

Erin Lutts, Vice President

Evelyn Neary, Secretary

Elaine Stanhope, Member                              

Del Espinosa, Member

Michele Gray, Member                         

Dru Burk, Member

OTHERS PRESENT                                       

David Espeland, CEO                           

Marjorie Losing, CFO                           

Heather Schwindt, Recorder                           

I.   CALL TO ORDER

Curt called the meeting of the FMC Board of Trustees to order at 5:40 p.m. in the FMC Community Room. 

II.  PUBLIC INPUT – There was no public input.

III. APPROVAL OF MINUTES

     No additions or corrections to the November 5, 2025 board minutes as distributed.  Evelyn moved to approve minutes.  Erin seconded the motion.  All aye, 0 nay.  Minutes stand as written.   

IV. FINANCIALS

A.

October Financials: 5 inpatient days and 0 skilled days. Gross Patient Revenue $912,000, $64,000 under budget.  Net Operating Revenue $1.1M, $140,000 over budget.  Expenses $1,094,000, $49,000 under budget.  Operating Income of $48,000, $189,000 on the positive side of the budget.  Adding Non-Operating income of $101,000, Net income of $150,000, $220,000 on the positive side of the budget.  YTD: $3.9M Gross Patient Revenue, $63,000 over budget.  Net Operating revenue $4.3 M, $328,000 on the positive side of the budget.  Expenses $4.4M, $96,000 on the positive side of the budget.  Operating Loss $135,000, $424,000 on the positive side of the budget.  Non-operating Income $444,000, $192,000 on the positive side of the budget; giving a Net income of $309,000, $600,000 on the positive side of the budget.  YTD Stats: Inpatient days are below budget by 40 days.  Swing and Intermediate Days are below budget by 150 days.  Skilled days are below budget by 9.  ER, Procedure and Observation are ahead of budget.  Lab and blood bank are below budget.  EKG, Ultrasound, CT, MRI and Radiology are ahead of budget. Mammography is below budget.  PT and OT are ahead of budget.  RHC is ahead of budget by 24.  Outpatient encounters are ahead of the budget.  Change in cash equivalents is $(145,000).

 V. OLD BUSINESS

1. Environmental Services:  Natasha McGarr was named as the Manager of the newly combined department effective November 30, 2025.  The department has a staff of 5.

• Annual Meeting Preparation:  The Board ran through the agenda for the Annual Meeting.  Curt clarified that he will announce the election results at the end.  He will introduce Marjorie as the first presenter, and from there the presenters will introduce the next speaker.  There was discussion that we need 10% of the corporation to participate in the vote, with 50% of those received to vote in favor of each candidate.  If we don’t meet those thresholds, we have to do a manual vote with those in attendance.  The Board was notified that we received 62 ballots from members, so we met the 10% threshold, which was 22.  They were also notififed that160 renewal notices will ber sent out for December 2025’s expiring members.

 VI.  NEW BUSINESS

1. Provider Credentialing:  A list of providers to be credentialed was sent with the packet.  The Board went through the names and the services that they provide; including Emeritus Status for Dr. Espeland.  Erin made a motion to approve the credentialling, Evelyn seconded the motion.  All aye, 0 nay.

Erin made a motion to adjourn the regular meeting.  Dru seconded the motion.

The Board adjourned their regular session having completed the agenda.

_______________________________

Curt Arnell, President Heather Schwindt, Recorder and Transcriber