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Audit: Hospital district finances sound
Assets for Hospital Service District No. 1 exceeded liabilities during the 2010 fiscal year by $15 million, according to a recently released audit.
The audit was conducted by Luffey, Huffman, Ragsdale and Soignier, a Monroe certified public accounting firm.
Hospital Service District No. 1, a component of the Ouachita Parish Police Jury, owned Glenwood Regional Medical Center's assets before it was sold to IASIS Healthcare in 2007.
According to the audit, the hospital service district's assets are 83 percent cash and investments while the remaining 17 percent is composed of capital assets.
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