Hospital Trustees Accept Audit

Posted on 26 October 2012 by KWBG

BOONE, Iowa—The Boone County Hospital Board of Trustees did accept the audit report presented by Kevin Morey BKD LLP from Kansas City during their meeting Thursday.  Morey pointed out Segregation of Duties is still something that is looked at and is very difficult to correct because of limited staff.  A few recommendations were made to deal with matters at Boone County Family Medicine and also the Madrid Clinic.  Morey also noted there were adjustments resulting in journal entries to the financial statements.  The impact was an increase in reported net assets.  Last year, Morey encouraged the Board to pursue improvements in Accounts Receivable and he noted that had happened.  He did encourage the Board to have that work continue.  Morey also suggested the Board receive financial information about potential third party reimbursements, such as the $495,000 expected to be reimbursed to Medicare.  The amount was unexpected just a month ago.  The amount of reimbursement is directly related to the volume of outpatient services available at Boone County Hospital.

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