(Spirit Lake)– The annual financial audit of Lakes Regional Healthcare was released Monday. The report is for the fiscal year that ended June 30th, 2009.
According to the report, the facility had total revenue of 25.2 million dollars…a 4.7 percent increase from the prior year. Total revenue included slightly more than 26 million dollars in net patient service revenue and a little more than 555-thousand in other revenue. Non-operating revenue was a little more than a million dollars, which was comprised of 687-thousand dollars in investment income; 350-thousand in county tax revenue; and a loss of 7,647-dollars on disposal of property and equipment and other income.
Expenses for the year totaled 24.7 million dollars…a 4.4 percent increase from the prior year. Of that, a little more than 10 million was in salaries; six million went for supplies and other expenses; and 2.6 million was for purchased services and professional fees.
A copy of the audit is available for review during regular business hours at the hospital’s administrative offices. It’s also available on-line at the State Auditor’s website.
Lakes Regional Healthcare trustees reviewed the audit at their regular monthly meeting Monday.
