Performance - Improved Bond Rating
Improved Bond Rating Results in Savings to Taxpayers
In November of 2007, the voters of El Paso approved $120.1 million dollars in bonds to build and equip a separately licensed children's hospital in El Paso. During the community campaign for the Children's Hospital, the cost to an average homeowner was projected to be $2.38 a month (per $100,000 appraised value) or $28.56 a year.
Because of the hospital district's strong financial performance, the Thomason's bond rating was upgraded from 'A+' to 'AA-' by Fitch and Standard & Poors. As a result, when the $120.1 million dollars in bonds for El Paso Children's Hospital were sold, the cost to the taxpayer was less than forecasted.
An additional $17.15 a year gave our children a medical home.
Because of the upgrade in the bond rating, the cost to El Paso taxpayers dropped from the forecasted $2.38 a month to *$1.43 a month, or $17.15 a year to provide a new medical home and a brighter future for children in the region.
*Like a home mortgage, that rate will drop each year as the bonds are paid off. At the end of thirty years, the monthly assessment will cease.
UMC of El Paso holds 'AA-' rating with stable outlook
In September of 2009, the District's bond rating was reviewed again and continued to receive the 'AA-' rating with stable outlook -- a substantial success given the fluctuation of the current financial markets and the fact many hospitals throughout the nation were facing a downgrade in their bond ratings.
Recent News
- 5/02/13 University Medical Center Foundation Announces $30,000 Grant From The Susan G. Komen Foundation For Sobreviviendo El Cancer De Seno Program
- 5/02/13 UMC Foundation Awarded $95,000 Grant From The Marsh Foundation To Purchase Halo System To Treat Patients With Esophageal Cancer
- 5/02/13 University Medical Center Foundation Awarded $343,422 Grant From Medcares To Support El Paso Children's Hospital Child Abuse Clinic.
- 3/20/13 $40,000 Gift To Be Presented To Dr. Bradley Furhman, Physician-In-Chief At El Paso Children's Hospital
- 2/28/13 University Medical Center Foundation Awarded $3,000 Grant From Shiloff Foundation