Chairman’s Meeting: December 7, 2022

Chairman’s Meeting: December 7, 2022

SUMMARY MINUTES
CHAIRMAN’S MEETING
Indian River County Hospital District Conference Room/ Zoom
December 7, 2022
1:00PAM

TRUSTEES: Marybeth Cunningham Karen Deigl
Ann Marie McCrystal Barb Bodnar
Allen Jones- via zoom Kerry Bartlett

ZOOM: Tracey Griffis Tara Beard
Anne Posey Lauren Meeks
Marie Andress Jad Shalhoub

STAFF: Ann Marie Suriano Dawn Carboni
Kate Voss Jennifer Peshke, Esq.
Jennifer Frederick

ATTENDEES: Lundy Fields Pat Knipper
Alex Greenspoon Michael Kint
Chriss Papayannis

Convene Meeting – Marybeth Cunningham, Chairwoman

Mrs. Cunningham convened the meeting of the IRCHD Board of Trustees at 1:00 PM by welcoming those participating via Zoom and in person.

Childcare Resources Request for Funding- Tracey Griffis Director of Wellness & Early Intervention

Ms. Griffis thanked the Trustees for the opportunity to bring forth this additional funding request. She explained that after last month’s meeting they revaluated their needs to have put together this proposal for the Trustees’ consideration. She explained that the reallocation and additional funding request for the expansion of the Childcare Resources Wellness and Early Intervention Program will allow for the addition of two positions focused on addressing early childhood mental health, an area that has seen an increase in need. They also plan to add an Early Childhood Mental Health Therapist to provide one on one play-based therapeutic services and a Mental Health and Behavioral Coach who will implement individualized plans of care while supporting early childhood staff in the classroom setting. They provided the Trustees with a complete and updated budget reflective of the reallocation and prorated salary needs from February 2023 through September 30, 2023. The total additional request for funding is $57,211.00. There was Trustee discussion and Ms. Cunningham made a motion to approve which was seconded by Ms. Deigl. The motion carried unanimously.

Investment Ladder Proposal- Allen Jones, Treasurer

Mr. Jones addressed the board and stated that he and Ms. Suriano have been working with Deep Blue Investment Advisors, the successor organization to Water Walker, and believe it would be beneficial to add a laddered U.S. Treasury investment program to the Preferred Deposit Pool currently being utilized. He explained that the annual fee structure is $15,000 per year, billed on a monthly basis. There will then be three money management pools which include Preferred Deposit Pool, Treasury Direct, and the U.S. Treasury Laddered Portfolio. Currently there is about $10.5 million in the Preferred Deposit Pool consisting of about $3.5 million carried over from the last fiscal year, and a little over $7 million in new tax revenue that’s already been received for the current fiscal year. The Preferred Deposit Pool yields 3.76% interest subject to daily change. H further explained that the plan is to use the $3.5 million carry over to fund District commitments through March, 2023. Also, the District, through Treasury Direct has three investments in 1 year U.S. Treasury Bills with $1 million maturing in May, $1.5 million maturing in August and $2 million maturing December 1, 2023. Total interest earned from these will exceed $175,000 and the District expects tax revenue of $11.2 million in FY 2023 and $9 million is projected to be received by December 31, 2022. It is proposed that Deep Blue Investment Advisors be retained to manage a laddered portfolio of U.S. Treasuries to yield noticeably more than 4% with maturities of $1.25 million monthly beginning in March, 2023. Additional funds will be added to the ladder as they are received as interests earned in this account are expected to exceed $300,000 at current rates. In total, fiscal year interest earned is expected to exceed $500,000. This proposal is to automate a process that takes advantage of surging U.S. interest rates, improves the amount of interest earned and minimizes credit risk as U.S. Treasuries are generally considered the safest asset from default. There was Trustee discussion and Mr. Jones made a motion to approve the proposal as outlined which was seconded by Mrs. McCrystal. The motion carried unanimously.

VNA Notice of Vacate Discussion- Jennifer Peshke, Esq.

Ms. Peshke stated that the District has received a Notice of Intent to Vacate from the VNA with regards to their lease of the Human Services Building. She explained that the notice was received in compliance with the lease and they have indicated they will be leaving the premises on or before April 27, 2023. Therefore, the Trustees will now need to discuss how they would like to move forward with the utilization of the building and land parcel. As a guide, Ms. Suriano created a fact sheet with information concerning the monthly costs associated with upkeep of the building, the rental income received, along with a history of building repairs and maintenance. Mrs. Peshke then explained that pursuant to the long-term lease agreements with CCIRH, CCIRH is awarded the right of first refusal concerning this property and building. Two representatives from CCIRH were present at the meeting and addressed the board. It was discussed that CCIRH does have an interest in the property and would like to begin further discussions on the same. There was Trustee discussion and the Trustees requested that CCIRH bring forth a formal proposal concerning this matter for consideration. Ms. Peshke indicated that she would send formal correspondence outlining todays discussion

Other Business

Ms. Frederick stated that Ms. Suriano recently attended the Meet the Funders Forum. In response to the District’s participation in the event, Rene Byerly from the Samaritan Center, contacted Ms. Frederick to discuss the potential of future funding opportunities. Ms. Byerly explained that the Samaritan Center is looking to hire a licensed clinical social worker for their staff to provide mental health services to their clients. They are currently utilizing the services of an independent contractor, but would like to have full time LCSW on their staff. She asked the Trustees if they would like to hear a proposal from the organization in the next few months, or be included during the FY 23-24 budget cycle schedule. There was Trustees discussion surrounding various matters of the Samaritan Center, the scope of services it provides, and other funding sources they utilize. After robust discussion, it was decided that the Trustees would be open to hearing a presentation from them in the next few months. Ms. Frederick was asked to follow up with Ms. Byerly and obtain some additional clarification and information requested during Trustee discussion. It was also confirmed that Ms. Carboni would conduct her pre audit screening review of the organization as well.

Mr. Jones stated that he has been made aware that there are some changes being implemented to the Cleveland Clinic My Chart system, and that some functions of the system may now have a fee associated with their use. There was Trustee discussion and it was not clear as to the totality of the change and Mrs. Cunningham indicated that she would follow up with CCIRH to obtain further clarification.

Public Comment & Adjourn

Mr. Shalhoub addressed the board and thanked the Trustees for their work and dedication over the last year specifically Mr. Jones and Mrs. McCrystal, who are ending their elected official terms. He asked if he could share a project, he has been working on with current UCF students, which tracks health services and providers throughout Indian River County. He requested the opportunity to formally present this information to the Trustees at an upcoming Chairman’s meeting. Ms. Suriano stated that she would send a follow up email with the information to the Trustees, and that Mr. Shalhoub would be included on a future agenda to provide additional information.

The meeting was adjourned at 2:00 PM