(Spirit Lake)– Trustees of Lakes Regional Healthcare spent a portion of their meeting Monday reviewing the hospital’s audit for the past fiscal year.
The accounting firm of Seim, Johnson, Sestak and Quist reported the hospital’s unrestricted funds totaled 19 million dollars for the year ended June 30th, 2003…a nine percent increase from the prior year. Net patient service revenue totaled 18.6 million dollars with 523-thousand dollars in other revenue. Non-operating gains were 457-thousand dollars, which was comprised of 269-thousand dollars in investment income; 104-thousand in county tax revenue; 136-thousand dollars in unrestricted contributions and 52-thousand dollars in losses on disposal of property and equipment.
Expenses for the year totaled 18.1 million dollars…a 4.6 percent increase from the prior year. 6.9 million of that was in salaries; four million for supplies and 1.8 million was for purchased services and professional fees.
A copy of the report is available for review at the Lakes Regional Healthcare CEO/President’s office.
