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APPROVAL OF ALLOCATIONS FROM THE FISCAL YEAR 2000 OPERATING MARGIN OF THE MEDICAL CENTER

The following resolution was adopted:

WHEREAS, the Medical Center will exceed its projected four percent operating margin in Fiscal Year 2000; and

WHEREAS, the Medical Center's operating margin in Fiscal Year 2000 was positively impacted by both one-time revenue enhancements related to payments for services provided in prior periods and reduced operating costs relative to the volume of activity; and

WHEREAS, the Medical Center staff has contributed significantly to the high quality care of patients under extremely demanding conditions; and

WHEREAS, the Board recognizes the contributions of the staff to the success of the Medical Center in delivering high quality and efficient health care to its patients, and wishes to express its gratitude;

RESOLVED that the Executive Vice President and Chief Operating Officer is authorized to apply up to $1 million of the Fiscal Year 2000 operating margin of the Medical Center to support the professional development and training of persons who deliver health care, and up to $2 million from the same source to augment the authorization made by the Board in April 2000 to adjust the salaries of critical personnel to market rates with the express purpose of improving retention of the Medical Center's health care staff.