Audit Confirms Improved Financial Picture for LC Hospital

The final numbers are in – the audit of the Laurens County Health Care System for the fiscal year that ended this past September 30th was accepted by the hospital system’s board of directors last night. Chief Financial Office Will Grant told the board that the year ended with a big improvement over the previous year. From a loss of $4.9 million on year ending September 30th, 2011, he said the loss for the year ended this past September 30th was down to $700,000. Grant said net revenue was up dramatically this past year, at 13.4%, while expenses increased by a far less amount, at 6.35%.

   Chairman Mike Ellison told his fellow board members last night that the auditors met with the finance committee separate from management of the hospital, and said the hospital’s management team had acted with competency, transparency and integrity in working with the auditors conducting the audit. Ellison said “I would like to thank our management team for the way they handled the process and worked with the auditors.” He told hospital management “Thank you folks for a job well done.”