A Ministry of Health-appointed supervisor's report revealed 'financial irregularities' and 'gaps in governance' at Renfrew Victoria Hospital (RVH) and its related not-for-profit, Renfrew Health (RH). Millions of dollars in hospital funds were improperly allocated to executive compensation, including a $1.2M trust and a $1M interest-free loan for a former CEO, despite strong patient care.
Report finds 'financial irregularities' at Renfrew Victoria Hospital
RenfrewVictoriaExecutive compensationHealth-care servicesHealth
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TL;DR: Key points with love ❤️A Ministry of Health-appointed supervisor's report revealed 'financial irregularities' and 'gaps in governance' at Renfrew Victoria Hospital (RVH) and its related not-for-profit, Renfrew Health (RH). Millions of dollars in hospital funds were improperly allocated to executive compensation, including a $1.2M trust and a $1M interest-free loan for a former CEO, despite strong patient care.
Trending- 1 Unspecified past: Renfrew Health (RH) was created.
- 2 Several years (unspecified period): Surplus funds transferred to RH, funds funnelled to executives.
- 3 Thursday (June 5, 2025): Report by Altaf Stationwala published.
- 4 Ongoing: RH is being dissolved, new financial auditors hired, whistleblower policy implemented, new senior management team in place.
- Millions of dollars misallocated
- Under-investment in patient care resources
- Gaps in security
- Lack of governance structure updates
- RH being dissolved
- New financial auditors hired
- Whistleblower policy implemented
- New senior management team in place
What: Discovery and documentation of 'financial irregularities' and 'gaps in governance' at Renfrew Victoria Hospital (RVH) and Renfrew Health (RH).
When: Report published Thursday (June 5, 2025); irregularities occurred over 'several years'; RH created at an unspecified past time.
Where: Renfrew Victoria Hospital, Renfrew, Ontario, Canada.
Why: Hospital funds were transferred to a related not-for-profit (RH) to bypass rigorous financial practices, leading to undocumented executive compensation and under-investment in patient care resources.
How: Transferring surplus funds to RH, funneling funds to executives without additional responsibilities, former CEO receiving large trust and loan, charging corporate credit cards without receipts.