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Litchfield hospital reports strong unaudited year-end results; board told about building study
Summary
Hospital leaders told the Meeker County Board on March 4 that unaudited 2024 financials showed unusually strong margins and large cash reserves, and that the hospital will fund blueprints and studies for a possible building project; commissioners were warned about future reimbursement uncertainty from state and federal payers.
Litchfield hospital leaders told the Meeker County Board of Commissioners on March 4 that unaudited 2024 financial statements show the hospital finished the year with strong margins and a large cash balance, and that the hospital plans to pay for blueprints and further studies for a possible building project.
Mary Ellen (hospital representative) said the hospital’s balance sheet reflected about 454 days of cash on hand and noted a funded depreciation balance of $278,000,000. She said the hospital ended 2024 with an operating margin of 5.4% versus a budgeted 2.7%, and a total margin of 9.4% when investment and nonoperating revenue are…
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