Massachusetts General Laws ch. 111 sec. 64E – Administration of hospital; general trust fund
Section 64E. The trustees may appoint all persons necessary for the proper administration of the affairs of the hospital, and may incur all expenses necessary for the maintenance thereof.
Terms Used In Massachusetts General Laws ch. 111 sec. 64E
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
The trustees shall deposit all monies received in payment or reimbursement for patient services into a general trust fund for the hospital. All monies so deposited may be expended without further appropriation. Any monies in such fund at the end of a fiscal year shall remain in such fund and shall not revert to the General Fund.
The monies from the general trust fund shall be expended in accordance with the following purposes:
(a) to pay for the operating expenses of Cushing Hospital, including administrative and health care delivery services;
(b) for the capital improvement and development of the medical school, including, but not limited to, the repair and maintenance of the present buildings, construction of a new facility, and the acquisition of medical and academic equipment and materials;
(c) to provide compensation, including additional fringe benefits, for employees of the hospital as the board of trustees may authorize and direct; and
(d) for medical research into innovative procedures for the long term care of elderly persons.