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.