Audit Report released for HRH

Posted January 13, 2018 at 10:57 pm

For public record, the accounting firm of Seim Johnson, LLP released an audit report on Hawarden Regional Healthcare, Hawarden, Iowa on September 27, 2017.

The Hospital’s unrestricted operating revenue totaled $9,650,577 for the year ended June 30, 2017, a 14.2% increase from the prior year. Total revenue included $7,731,352 in net patient service revenue and $1,919,225 in other revenue. Net nonoperating revenues were $71,032, which was comprised of $15,095 in investment income; $358,841 in sales tax revenue; $15,999 in noncapital grants and contributions; $184,896 loss on clinic joint venture; and $134,007 in interest expense.

Operating expenses for the year totaled $9,362,221, a 12.9% increase from the prior year, and included $4,409,980 for salaries and employee benefits; $1,398,704 for supplies and other expenses; $2,897,630 for purchased services and professional fees; and $655,907 for depreciation, amortization and interest.

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

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