Treasurer Fiona Ma Encourages Hospitals to Apply for
Children’s Hospital Program of 2018 (Proposition 4)
March 4, 2020
Contact: Mark DeSio
SACRAMENTO –California State Treasurer Fiona Ma today is reminding eligible hospitals of the upcoming March 30, 2020 deadline for application submission for grant funding under the Children’s Hospital Program of 2018 (Program) administered by the California Health Facilities Financing Authority (CHFFA), which is chaired by the Treasurer.
In November 2018, California voters approved Proposition 4, the Children’s Hospital Bond Act of 2018 (2018 Act), enabling California to issue $1.5 billion in general obligation bonds to fund the Program.
Eight private non-profit children’s hospitals are each eligible for $135 million, five University of California Children’s Hospitals are each eligible for $54 million, and public or private nonprofit hospitals that provide pediatric services for children eligible for California Children’s Services (CCS Hospitals) are eligible for a total of $150 million in funding. The upcoming March 30, 2020 application submission deadline is for awarding the $150 million to CCS Hospitals on a competitive basis.
“Patients seen at these hospitals include some of California’s most underserved and vulnerable populations” said Treasurer Ma. “These children are the future of California, and we need to take care of them as best we can so they can prosper and become fruitful members of our communities.”
The purpose of the Program is to improve the health and welfare of California’s critically ill children by providing a stable and ready source of funds for capital improvement projects. California’s network of regional children’s hospitals provide vital health care services to children in need. Over one million times a year, children are cared for at these hospitals without regard to their family’s ability to pay. Many of the children that are seen at these hospitals have complex and life-threatening illnesses because these hospitals have the most specialized pediatric specialists capable of addressing these illnesses.
CHFFA has administered two similar programs in the past - the Children’s Hospital Bond Act of 2004 (2004 Act) and the Children’s Hospital Bond Act of 2008 (2008 Act). The primary difference between this Program and the two previous acts, the 2004 Act and 2008 Act, is that ten percent ($150 million) of the total funds are available to public or private nonprofit hospitals that provide pediatric services for children eligible for the CCS program.
The CCS program is a statewide program of over 200 hospitals that provides diagnosis, treatment, and medical case management to approximately 190,000 children and young adults under 21 years of age that are the state’s most medically fragile. It arranges, directs, and pays for medical care, equipment, and rehabilitation. The children and young adults who qualify have eligible medical conditions and are enrolled in Medi-Cal, are low income, or are members of families that are unable to pay for all or part of their care.For more information on the Children’s Hospital Program of 2018, to apply for grant funding, or learn about other grant funding opportunities, please visit CHFFA’s website.
Fiona Ma is California’s 34th State Treasurer. She was elected on November 6, 2018 with more votes (7,825,587) than any other candidate for treasurer in the state's history. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. The State Treasurer’s Office was created in the California Constitution in 1849. It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents. California is the world’s fifth-largest economy and Treasurer Ma is the state’s primary banker. Her office processes more than $2 trillion in payments within a typical year. She provides transparency and oversight for the government’s investment portfolio and accounts, as well as for the state’s surplus funds. Treasurer Ma oversees an investment portfolio of more than $86 billion, approximately $25 billion of which are local government funds. She serves as agent for sale for all State bonds, and is trustee on over $94 billion of outstanding debt.