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$343K remittance averts payless payday for some at CHC
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Posted on Feb 24 2012
Two separate Department of Finance remittances totaling at least $343,000 to the Commonwealth Healthcare Corp. helped avert yet another payless payday yesterday for some CHC employees, officials said.
Acting governor Eloy S. Inos said yesterday that Finance remitted funds to CHC on Thursday and Friday morning totaling over $300,000.
“We think that should take care of the payroll but the [chief executive officer] establishes priority,” Inos said in an interview at the burial for U.S. Army SSG George Joseph A. Sablan yesterday at the Veterans Cemetery in Marpi.
Cora Ada, from CHC’s Financial Office, confirmed that the corporation did receive a $243,000 from Finance on Thursday, and another $100,000 on Friday for a total of $343,000.
The corporation needs some $800,000 to meet biweekly payroll, but Inos said the over $300,000 remittances from Finance will only make up for the payroll shortfall so that everybody will be paid on time.
CHC employees who are non-Bank of Guam holders may be able to get their payroll today instead of Friday because of additional processing time required.
CHC chief executive officer Juan N. Babauta told reporters Thursday afternoon that non-essential workers won’t get paid Friday, but this was averted as a result of Finance’s remittances. He said only essential or those in direct patient care such as doctors and nurses will get their paychecks on time.
The corporation is looking at an $11.58 million line of credit bill that the Senate passed on Thursday and is now on its way to the House, to help stem the financial crisis at CHC. While Babauta had misgivings about the Senate version of the bill, he said he respects the legislative process.
Babauta said CHC hopes to pay all its employees on time and pay its vendors over $1 million in outstanding bills.
This is not the first time this year that a remittance from Finance helped prevent payless paydays for some CHC workers.
Last month, Gov. Benigno R. Fitial said Finance transferred some $261,000 to CHC to help avert a payless payday for doctors at the hospital on Jan. 27.
