Final installment
Fiscal Restoration Plan continued

Summary:
    In summary it took many years for Modoc County to accrue the large negative fund balances in the hospital enterprise fund. The debt service required is substantially more than the county can afford in the best of times. The county is currently faced with a multitude of challenges that complicate any resolution to this process. Recognizing this, the county is implementing a multi-faceted solution simultaneously. This diversified approach will help mitigate the risks associated with delays or challenges in meeting any particular objective outlined above. Finally it is going to take the resolve of the board to educate all the stakeholders including financiers, underwriters, employees, taxpayers, insurance carriers, respective responsible parties, legal counsel, and state/federal regulators and creditor agencies that a collective and integrated solution involving all stakeholders is likely to be the only path forward.

Q. It appears, according to our reading of the plan that the county will be broke at the end of this fiscal year if any one of the following fails to materialize:
    1. It does not successfully sell fixed assets
    2. Bonds are not sold
    3. Performance claim goes unpaid

Robertson. The county will continue operations as long as we meet cash flow requirements and or there is regulatory intervention. All of the above objectives are intended to prevent this from happening. I would not go so far to say that we can’t meet our needs if any one of the above objectives is not met in its entirety. The plan has redundancy to ensure multiple objectives in the event one objective fails to fully materialize.