Jim McNey, Senior Vice President and CFO was recently named to Becker’s Hospital Review’s national list of 150 Hospital and Health System CFOs to Know. We sat down with our fiscal-minded leader to get to know him; how he spends his time when he’s not balancing the hospital’s checkbook.
How did you get into finance?
“I started as a county extension agent after getting my agricultural economics degree. I ran the 4-H program in the Texas Panhandle. I helped kids get their steers, hogs and sheep ready to show. After a few years, I became a licensed real estate agent and sold farm and ranch property in three states. My next move was to get an accounting degree. At age 27, I worked for Coopers & Lybrand (now PricewaterhouseCoopers), a public accounting firm. Some of my supervisors were younger than me, so I laughed that I was the old man working for the kids. My first client was Valley Baptist Medical Center in Brownsville, TX. Years later, I became the CFO.”
Why did you move to Missouri?
“My wife, Lauri, and I were ready for a change from the hot Texas weather, where it was always summer and about to be summer again. We missed a more even climate with seasonal changes.”
Who balances the checkbook at home?
“Lauri does all the banking, and she prepares our tax return, which I review. She jokes that she thought by marrying an accountant she would never have to write a check again. It’s important that a spouse be totally engaged in the economics of a marriage. You never know what might happen.”
Any financial advice you can offer?
- Don’t spend more than you make.
- Do start early to invest.
- Don’t overuse credit cards.
“The quickest way to double your money is to fold it over and put it back in your pocket.” – Will Rogers
How do you relax?
“We love to travel and experience different foods and cultures in countries such as Scandinavia, Sweden, Norway, France and Germany.
One of my worst travel experiences involved a rental car in Normandy, France. I made the mistake of putting diesel in a gasoline car. That was a really expensive mistake!”