WJ Mangold Memorial Hospital and Cogdell Clinic in Lockney, TX (Photo FCR)
LOCKNEY, TX – A clean audit was the word recently reported to members of the Lockney General Hospital District.
Meeting in late April, the board heard from Durbin & Company regarding their annual audit, which resulted in total assets of $4,618,868, net operating revenue for FY23 of $10,298,144 plus total nonoperating revenue of $2,040,377, operating expenses of $12,317,221 for a net increase of $178,300 for the year.
According to the audit, the liquidity ratios and metrics of the hospital were similar to those of other Texas hospitals and rural hospitals in general. Accounts Payable, Other Current Liabilities, and Long-term Debt decreased in 2023.
