Leadville, Colo.-based St. Vincent Health will be able to pay its 155 employees after Lake County Commissioners voted unanimously to cover the costs for December, CBS Colorado reported Dec. 8.
The news comes after the hospital's board of directors revealed in a Dec. 7 meeting that they did not have enough money to pay employees. While the county agreed to cover the $480,000 needed to pay staff, the hospital had to agree to a list of demands from the county.
St. Vincent is required to confirm they have no liquid assets of its own, publicly apologize to its staff, create and deliver a monthly financial report, as well as comply with several other county-mandated stipulations.
"You failed to do your job, and I think you need to take a long hard look at that, and I think you need to explain to all of us how we got to this point," County Commissioner Kayla Marcella said during a meeting to members of the St. Vincent Medical Board.
The hospital is blaming the current financial situation on former CEO Brett Antczak, who resigned earlier this year.