Annual audit report released for MCCF

For public record, the accounting firm of Eide Bailly LLP released an audit report for Montgomery County Memorial Hospital, Red Oak, Iowa on Nov. 14, 2022:
The hospital's operating revenue totaled $44,531,149 for the year ended June 30, 2022, a 4.3% increase from the prior year. Total revenue included $43,953,344 in net patient service revenue and $577,805 in other operating revenue.
Net nonoperating revenue was $3,786,667, which was comprised of $32,752 in investment income, $1,648,418 in capital and noncapital grants and contributions, $1,923,255 in county tax revenue, $259,760 in net rental activity, and $146,109 in interest expense.
Operating expenses for the year totaled $47,139,048, a 3.4% decrease from the prior year, and included $25,806,278 for salaries and employee benefits; $16,092,428 supplies and other expenses; $2,297,270 for purchased services and professional fees; and $2,943,072 for depreciation and amortization.
A copy of the audit report is available for review in the Hospital Administrator's Office, in the Office of the Auditor of State and on the Auditor of State’s web site at

The Red Oak Express

2012 Commerce Drive
P.O. Box 377
Red Oak, IA 51566
Phone: 712-623-2566 Fax: 712-623-2568

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