The Kearney County Health Services Board of Trustees held their monthly meeting on August 25. Randy Hoffman from Seim Johnson presented the fiscal year 2021 audit report.
Hoffman explained the audit report for federal funds through the CARES Act compliance is still pending. A portion of those funds received by KCHS may need to be paid back because they have not been spent.
The facility saw an increase in net patient revenue of $2.2 million, primarily in outpatient services with the majority coming from Radiology, Lab, and Behavioral Health Services. Operation expenses increased $1.4 million with operating income for the year of $1.1 million up from $445,000 last year. Randy Hoffman stated this total makes KCHS one of the higher performing critical access hospitals in the state. KCHS had an operating margin of 7.8% for 2021 compared to 3.7% in 2020. Income will be used to pay off debt related to $3.4 million clinic remodel and to fund future capital projects.
see September 1 Courier for full story