Bingham Memorial gives large payment to Bingham County

Bingham County is half a million dollars richer thanks to a payment from Bingham Memorial Hospital.

The hospital presented a check for more than $500,000 to the Bingham County commissioners. The hospital and county entered a Liquid Assets Transfer Agreement in 2007 when the hospital became a non-profit corporation. While the hospital manages operations and assets, the county owns the property and assets such as land, buildings, and equipment. The county works the payment into its budget every year.

“Because the citizens of the county own the hospital facilities, the brick and mortar,” said Bingham County Commissioner Ladd Carter. “The lease of assets agreement has allowed the county to share profits of the hospital and the hospital does well. There’s an incremental increase in the amount that they pay back to the citizens of Bingham County and I think it’s really a great opportunity for us and the county to enhance our budget.”

This payment is $25,000 more than last year’s payment.