Audit report released for VDMC

For public record, the accounting firm Seim Johnson, LLP released an audit report for Van Diest Medical Center, Webster City, Iowa on Sept. 20, 2016.

The Hospital’s operating revenue totaled $23,673,408 for the year ended June 30, 2016, a 12.6 percent increase from the prior year. Total operating revenue included $21,687,158 in net patient service revenue and $1,986,250 in other operating revenue. Net non-operating revenue was $1,223,529 which was comprised of a $6,484 loss on the disposal of capital assets; $31,370 in investment income, $1,874,061 in property tax revenue, and $675,418 in interest expense.

Operating expenses for the year totaled $25,017,691, a 10.9 percent increase from the prior year, and included $12,565,893 for salaries and employee benefits; $4,430,518 for supplies and other expenses; $4,220,922 for professional fees and purchased services; and $3,800,358 for depreciation and amortization.

A copy of the audit report is available for review in the Hospital Administrator’s Office, in the Office of the Auditor of the State and on the Auditor of State’s web site at https://auditor.iowa.gov/audit-reports.”

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