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OHSU Board approves audited financial reports

Reports were for 2012-2013 budget year that ended June 30

The Oregon Health & Science University (OHSU) Board of Directors today formally accepted the report of KPMG, LLC, an independent auditor charged with reviewing OHSU’s fiscal year 2013 financial statements. Commissioning an independent audit is a standard, recurring part of OHSU’s annual budget year.

The KPMG report concluded that the financial statements it audited “present fairly, in all material respects, the financial position” of OHSU. OHSU’s final FY 13 results showed only one change from the preliminary figures presented to the Board in September – a $2.6 million improvement of operating income to $98.6 million. This improvement reflects a change in the liability for self-insured health benefit costs consistent with generally accepted accounting principles that leaves OHSU appropriately reserved against health benefit costs.

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