Business Notebook: Prather retires after long career as Saint Francis CFO

Editor's note: The Business Notebook is a weekly wrap-up of business news in Southeast Missouri. To submit news, reach business editor Jay Wolz at business@semissourian.com.

David Prather

After nearly a quarter-century with Saint Francis Medical Center in Cape Girardeau, David Prather has retired as the medical center's chief financial officer.

His retirement became effective last Tuesday.

Before joining Saint Francis as marketing manager in 1995, Prather worked for several accounting firms, including Kerber, Eck & Braeckel, Baird, Kurtz & Dobson and Laventhol & Horwath.

In 2003, he was promoted to the position of controller at Saint Francis, and in 2017, he was named chief financial officer following the retirement of Tony Balsano.

A certified public accountant, Prather earned a Bachelor of Science in accounting from Southern Illinois University, where he also earned an MBA. He is a member of the Healthcare Financial Management Association and the American Institute of Certified Public Accountants.

"What I've enjoyed most about my career at Saint Francis is the fact I've been able to work through financial details and cost-saving measures with clinical staff to improve finances," he said. Those cost-saving measures, he said, have helped the medical center manage consumer prices.

"It certainly helps the community access and afford much needed health care," he said.

IRS sets 2020 mileage rates

The Internal Revenue Service has issued its 2020 optional standard mileage rates used to calculate the deductible costs of operating a motor vehicle for business, charitable, medical or moving purposes.

Starting this month, the standard mileage rates for the use of a personal cars (as well as vans, pickups and panel trucks) will be:

• 57.5 cents per mile for business use, down a half cent from the 2019 rate.
• 17 cents per mile for medical or moving purposes, down 3 cents from the rate for 2019.
• 14 cents per mile driven in service of charitable organizations.

According to the IRS, it is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses, except for members of the armed forces on active duty moving under orders to a permanent change of station.

The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile, while the rate for medical and moving purposes is based on the variable costs.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

For more information, consult your tax professional.

Hearing tonight on SF zoning request

A public hearing has been scheduled for tonight before the Jackson Board of Aldermen to consider a special-use permit request from Saint Francis Medical Center. The request is for a special-use permit that would allow a temporary mobile medical office at 2130 E. Jackson Blvd. in Jackson.

The hearing is scheduled for 6 p.m. in the Board of Aldermen chambers on the second floor of Jackson City Hall, 101 Court St. in Jackson.

UJRO schedules annual meeting

The Uptown Jackson Revitalization Organization (UJRO) will hold its annual meeting at 6 p.m. Jan. 23 at the Whistle Stop Depot, 252 E. Jackson Blvd. in Jackson.

Steve Turner, the organization's executive director, said the meeting will be an opportunity to celebrate Uptown Jackson's successes in 2019, look forward to the group's plans in 2020, elect new board members and approve revisions to the UJRO's bylaws. Complimentary beverages and heavy hors d'oeuvres will be served.

UJRO is a not-for-profit volunteer organization focused on the development and support of Jackson's uptown business district.

For more information about UJRO or the annual meeting, contact Turner at the organization's offices in the Jackson Area Chamber of Commerce Building, (573) 987-0624.

People on the Move

Marvin Adams Jr.

Marvin Adams Jr. has taken the reins of First State Community Bank in Cape Girardeau, succeeding Henry "Butch" Holyfield who has retired as the Cape Girardeau community bank president.

Adams served as executive vice president and commercial lender since April 2019 and assumed the president's position last Wednesday.

"I am looking forward to working with our customers and building on the legacy that has been established in the community," commented Adams, who has been in the banking industry for 17 years.

"We are excited to have Marvin on our team in Cape," said First State Bancshares chairman and CEO Greg Allen. "He's a wonderful addition and fits our culture perfectly. Just like every other employee, he'll be dedicated to helping customers and the greater community succeed."

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Dr. Jimmy Bowen

Dr. Jimmy Bowen has joined the medical staff at Southeast Hospital and has become affiliated with Southeast Orthopedics and Sports Medicine.

Bowen previously practiced with Advanced Orthopedics in Cape Girardeau and most recently was affiliated with the Naval Medical Center in Portsmouth, Virginia.

During his previous time in Cape Girardeau, Bowen served as the head team physician for Southeast Missouri State University and was the medical director for the university's sports medicine program.

Bowen earned his medical degree from the University of Missouri-Columbia and completed a residency at the Mayo Clinic in Rochester, Minnesota. He is a retired captain with the U.S. Navy.

"As a former team physician for Southeast Missouri State, the United States Naval Academy and a consultant for special forces, I get to combine physical medicine, rehabilitation and strength and conditioning approaches to the nonsurgical aspects of treating patients with musculoskeletal and neurological needs," he said.

Chamber notes ...

The Cape Girardeau Area Chamber of Commerce will host a Women's Network Power Hour and Speed Networking event from 4 until 6 p.m. Thursday at the Cape Girardeau Country Club. Doors will open at 4 p.m. with "speed networking" starting at 4:30 p.m.

There is no charge to attend, but registration is required. Complimentary appetizers and a cash bar will be available.

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The Cape Girardeau chamber's January First Friday Coffee will be this Friday, Jan. 10, at the Century Casino Event Center. Doors open at 7 a.m. with the program, featuring a panel of local leaders discussing "what to expect in 2020," starting at 7:30 a.m.

First Friday Coffees are free for chamber members and their guests.

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The Jackson Area Chamber of Commerce's annual banquet and officer installation is Friday night at the Jackson Civic Center. Several awards will be presented during the evening, including recognition of the chamber's Business of the Year, Small Business of the Year, Ambassador of the Year and Woman of the Year, as well as presentation of the R.A. Fulenwider Award.

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