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Quincy hospital facing liquidation over debt | News

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Quincy hospital facing liquidation over debt
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Quincy hospital facing liquidation over debt

Quincy Valley Medical Center in Quincy, Washington is facing some serious financial problems and could be forced to close.

Grant County officials are concerned with the $4 million in debt that the hospital owes the county and is demanding that they pay the balance immediately or face tough action from commissioners.

“I will be highly recommending to the county commissioners that we take immediate action going into January 2015 to not pay any registered warrants that come in over the $2.5 million set if no bond levy is put on the 2014 general election ballot, or if it does not pass on the ballot,” said Grant County Treasurer Darryl Pheasant.

Registered warrants entitle the holder to payment on demand from the county treasurer. In 2008 commissioners agreed to raise the Quincy warrants from $1.8 million to $2.5 million, but the hospital has been averaging a balance of $3.95 million instead. At this time Quincy hospital district warrants are one of the largest budget items for the county, comparable to the budget for the sheriff's office.

Pheasant says the Hospital could have to shut down in the near future, with the sales of its assets used to pay back any debt, and any remaining balance paid by taxpayers in the hospital district.

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