Hunt Memorial Hospital District Financial Summary – Fiscal Year Ended September 30, 2024
- Published
- February 21, 2025
- Covers
- FY2024
Based on the Independent Auditor’s Report prepared by Forvis Mazars, LLP (February 21, 2025). This summary is intended for general informational purposes.
About the District
Hunt Memorial Hospital District is a public hospital district and political subdivision of the State of Texas, serving residents of Hunt County and surrounding areas. It includes Hunt Regional Medical Center in Greenville, Hunt Regional Home Health, and Hunt Regional Medical Partners. The District is funded through a combination of patient service revenue, property taxes, and supplemental Medicaid funding from the State of Texas.
Audit Opinion
The District’s financial statements were audited by an independent auditing firm, Forvis Mazars, LLP. The auditors issued a clean (unmodified) opinion, meaning the financial statements fairly present the District’s financial position in accordance with generally accepted accounting principles.
Financial Highlights
Revenue
| Revenue Source | FY2024 | FY2023 |
|---|---|---|
| Net Patient Service Revenue | $201,026,632 | $186,650,665 |
| Supplemental Medicaid Funding | $5,885,663 | $10,707,015 |
| Other Operating Revenue | $5,866,830 | $3,106,958 |
| Total Operating Revenue | $212,779,125 | $200,464,638 |
| Property Taxes | $25,591,705 | $22,202,383 |
Expenses
| Expense Category | FY2024 | FY2023 |
|---|---|---|
| Salaries, Wages & Benefits | $142,315,345 | $125,722,582 |
| Purchased Services & Professional Fees | $42,943,005 | $45,403,520 |
| Supplies & Other | $62,146,342 | $56,438,372 |
| Depreciation & Amortization | $13,889,217 | $11,811,417 |
| Total Operating Expenses | $261,293,909 | $239,375,891 |
Net Result
| FY2024 | FY2023 | |
|---|---|---|
| Operating Loss | ($48,514,784) | ($38,911,253) |
| Net Nonoperating Revenues (incl. property taxes) | $24,939,558 | $22,100,602 |
| Net Decrease in Net Position | ($23,174,432) | ($16,561,411) |
Financial Position at a Glance (September 30, 2024)
| Total Assets | $206,212,343 |
| Total Liabilities | $149,934,476 |
| Total Net Position (Equity) | $54,380,265 |
| Cash on Hand | $2,926,367 |
| Outstanding Bond & Loan Obligations | $60,062,198 |
Property Tax Rate (FY2024)
The District’s combined property tax rate for FY2024 was $0.197792 per $100 of assessed property value ($0.165387 for operations + $0.032405 for debt service). Approximately 11% of the District’s total financial support comes from property taxes. Of those tax dollars, 84% went to support day-to-day operations and 16% went toward bond debt repayment.
Contact
For questions about this report, contact the District’s Accounting Department:
4215 Joe Ramsey Blvd., Greenville, Texas 75401
Full audited financial statements are available upon request.
