(Spirit Lake)– The board of trustees of Lakes Regional Healthcare Monday reviewed the facility’s annual audit for the fiscal year that ended June 30th, 2005. It showed total revenue of 21.3 million dollars…a 5.9 percent increase from the prior year. Total revenue included 20.9 million in net patient service revenue and 476-thousand dollars in other revenue. Non-operating revenue was 509,687-dollars which was comprised of 401,680-dollars in investment income; 102,996-dollars in county tax revenue; 35,364-dollars in unrestricted contributions and 30,353-dollars in losses on disposal of property and equipment.
Expenses for the year totaled 20.4 million dollars…a 7.8 percent increase from the prior year. That included 7.87 million in salaries; nearly five million dollars for supplies and other expenses; and 2.3 million for services and professional fees.
A copy of the report is available for public review at the Administrative Office at Lakes Regional Healthcare.
