Officials with the Cass County Memorial Hospital in Atlantic, today (Friday) released an annual audit report. The report, prepared by Gronewold, Bell, Kyhnn & Co. P.C. shows the hospital remained financially strong during the 2015 fiscal year. It indicated there were no necessary corrective measures. A copy of the audit report is available for review in the offices of the Auditor of State and the CCMH Chief Executive Officer.
Some highlights of the audit include:
• The hospital’s unrestricted funds revenues totaled $45,705,200 (for the year ending June 30, 2015), which is a 7.2 percent increase from 2014.
• The revenues included $36,572,400 in net patient revenue, $5,884,500 in other operating revenue, $2,183,500 from the county and $160,300 in investment income.
• Expenses for the year totaled $40,931,900, a 2.4 percent increase from the prior year, and included $18,121,700 for wages and benefits, $5,401,000 for professional fees, $12,480,300 for supplies and other expenses, $3,244,600 for depreciation, and $1,668,100 for interest expense.
The increase in revenues and expenses were primarily due to increases in services provided. The number of inpatient acute days increased by 5.4% compared to the prior year, swing bed days increased by 23.1%, and outpatient occasions of service increased by 11.3%.
Abbey Stangl, Chief Financial Officer said “Our staff has done an outstanding job to hold expenses at only 2.4% growth while increasing occasions of service of all types,” noted . “Their diligence has allowed us to maintain the financial health of our organization while caring for our community members.”