Hospital Board Approves Retainage Account for Contractor

O’Dell Construction, the contractor on the current capital construction project at the Johnson County Healthcare Center, has requested that the board approve setting up a retainage account for them to deposit funds in for work that has been completed on the project.

Board President Dr. Mark Schueler discussed the request during their last board meeting.

CEO Luke Senden explained that the retainage is there as a protection for the JCHC to make sure the construction is up to their expectations, then is released to the contractor at that time, which includes the interest earned on the funds.

The funds have to be requested to be released and the JCHC can then approve the bank to release the funds.

After discussions the board voted to approve setting up the retainage account.