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Audit finds accounting adjustments, operating loss at Bothwell Regional Health Center; board and auditors outline recovery steps
Summary
An independent audit presented to the Sedalia City Council found accounting adjustments that reduced net position by about $11 million and an operating loss of roughly $15 million for the hospital’s fiscal year; auditors and hospital leadership described material weaknesses and a multi-step recovery plan.
Sedalia — An audit of Bothwell Regional Health Center presented at the Sedalia City Council meeting on Jan. 20 found accounting adjustments and operational shortfalls that left the hospital with a substantially reduced net position for its most recent fiscal year.
“From what was originally reported, to what ended up in the audit process was a delta or an increase in the decrease in net position of $11,000,000,” Eric Jones of Ovation Healthcare told the council, calling the change “an accounting loss” that does not necessarily equate to the hospital’s cash position.
Lori Whiteman, Bothwell’s chief executive officer, said the hospital’s finance department had suffered turnover that limited timely reporting. Whiteman said the hospital still serves a large…
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