Posted 10:34 PM 4/28/2012 : City council to review $1M payout for Memorial CEO
More than a million dollars in taxpayer money is set to go into the bank account of the departing Memorial Hospital CEO, Dr. Larry McEvoy. It's part of an exit package that has the Mayor of Colorado Springs calling for action.
City Council got an email from Mayor Bach early Saturday calling for a special session to review the exit bonus which totals $1.15 million, providing $20,000 to find a new job and a new car. The package far exceeds the six months severance pay typically given to an exiting government employee.
The mayor doesn't have authority over the Memorial Hospital Board of Trustees, who arranged the huge payout- but City Council does. The situation has left Mayor Bach taking a 'strong-mayor' stance, urging reconsideration; some Council members have already made up their minds. "There's no government employee in Colorado Springs that's worth a million dollars going out the door," Council member Tim Leigh told News 5.
It's a big chunk of change lined up for McEvoy, whose departure represents the beginning of Memorial's transfer to the University of Colorado Health system; it also highlights some financial hypocrisy. Just last August the hospital was nearly bankrupt, and employees haven't gotten a pay raise in the last year. Furthermore, the payout may not even be legal, since the Memorial Board of Trustees didn't list the money as a line item on the budget that City Council approved earlier this year.