Stephens County Hospital receives good news for its Fiscal Year 2012 audit.
The hospital reported on the audit for the previous fiscal year at its Monday’s monthly meeting of the Stephens County Hospital Authority.
According to Hospital Administrator Ed Gambrell, the hospital received a clean opinion on the audit, which he says is what you want to see in an audit.
In addition, Gambrell said that the audit provided the hospital with more good financial news for the last fiscal year, which ended on September 30.
“We had a positive bottom line for the Fiscal Year that ended September 30 of around $700,000, which is good because that gives us cash to put back in to the operation of the hospital,” said Gambrell. “Believe me, it was a challenge to be positive this past year because of all the economic stresses, but we were in the black and I am very happy for that and it is just a good thing for us.”
This year’s positive bottom line is a change from Fiscal Year 2011, in which Gambrell says the hospital showed a loss of about $400,000. Gambrell said the hospital did have a positive bottom line in 2010.
According to Gambrell, revenues were down by about 3 percent for Fiscal Year 2012 when compared to Fiscal Year 2011.
He said the positive bottom line is the result mainly of a sharp decline in expenditures in the last Fiscal Year.
“We were able to decrease our expenses actually by six percent comparing 2011 with 2012,” said Gambrell. “We actually reduced our expenses, which is a good accomplishment and one I am very proud of.”
The hospital also reported on finances for the month of December, noting that last month also showed a positive bottom line.
Gambrell said December, as expected, was a busy month for Stephens County Hospital.
“As you know, there was a lot of flu in December,” said Gambrell. “Our emergency room was busy.”
He also noted that the hospital also saw people getting year-end surgeries in December.
Stephens County Hospital has now reported positive bottom lines for the first three months of the hospital’s new fiscal year, which began on October 1.