by Brian Orr
HUERFANO- The Spanish Peaks Board of Directors received a summary report from their accounting firm Stockman Kast Ryan on Monday, and for their industry, and for this time in the recession, they are doing very well.
Michael Rowe of SKR spent a half hour hitting the high points of the report, noting that it was a ‘clean’ audit with no significant disagreements.
Capital assets are at $8.3 million, down from $8.8 million in 2008, but net assets are up to $11,8 million. Revenues are up slightly, as are operating expenses. Net patient service revenue is up $724,000 above budget.
The final word is the hospital is up four percent from 2008. “This was a little unusual,” Rowe said of the report. Many hospitals are going down now.
More recent figures bear this trend out. March numbers show in-patient volume is 125% higher than budgeted, and out-patient numberd are up as well.
Finally, this was Board member Ken Schneider’s last meeting. Schneider has served for ten years, but is term limited. Schneider said he was extremely proud of how far the hospital has come and what is has accomplished, calling the facility a “pearl of the Rockies.”