Lake Hospital System Inc

“The process followed before filing the lake hospital systems, inc. Form 990 includes a detailed review completed by an independent outside cpa firm, presentation to and review by the lhs cfo and ceo, presentation and review by the lhs finance committee, and presentation to the lhs board of trustees.”

“The lake hospital system, inc. Board of trustees complete a conflict of interest questionnaire annually, which is then reviewed by the lhs cfo and a director of the board of trustees. Board members will excuse themselves from the board meeting when a topic of potential conflict is presented and return to the meeting following the completion of discussion, motion, and vote. Compliance with the lhs conflict of interest policy monitored and enforced by the board chair, committee chairs, and the director responsible for board of trustee matters.”

“The process for determining compensation of the lake hospital system, inc. Ceo, other officers, and key employees includes market research, review, and assessment by an independent consulting firm to make a recommendation to the lhs board of directors. The board reviews the report provided in conjunction with annual performance assessments, and utilizes this information to determine compensation level. In addition, the procedure for other officers and key employees includes review by the ceo. The review was last conducted in may 2016.”

“Lake hospital system, inc. Makes its form 990, form 990-t, and form 1023 available to the public upon request, for the same period of time as set forth in the internal revenue code section 6104(d). Lake hospital system, inc. Makes available governing documents, conflict of interest policy, and financial statements to the public upon request, for the same period of time as set forth in the internal revenue code section 6104(d), in addition to filing quarterly financial information with nationally recognized municipal securities information repositories for compliance with bond issues and annual financial information with the attorney general of the state of ohio. Governing documents for lhs are available through the website of the ohio secretary of state.”

“PROVIDER PROFESSIONAL FEES AND BENEFITS: Program service expenses 29,620,001. Management and general expenses 2,546,307. Fundraising expenses 0. Total expenses 32,166,308. CLINICAL PURCHASED SERVICES: Program service expenses 3,572,575. Management and general expenses 1,655. Fundraising expenses 0. Total expenses 3,574,230. EQUIPMENT AND INSTRUMENT MAINTENANCE AND REPAIR: Program service expenses 3,377,961. Management and general expenses 1,124,598. Fundraising expenses 0. Total expenses 4,502,559. DATA, BILLING, AND RECORDS SERVICES: Program service expenses 285,504. Management and general expenses 2,020,248. Fundraising expenses 0. Total expenses 2,305,752. HOUSEKEEPING SERVICES: Program service expenses 337,395. Management and general expenses 947,627. Fundraising expenses 0. Total expenses 1,285,022. OTHER PURCHASED SERVICES: Program service expenses 8,146,218. Management and general expenses 7,909,692. Fundraising expenses 0. Total expenses 16,055,910.”

“Net gain from affiliated entities 304,635. Derivative instruments loss -2,606,653. Net change in unrealized gain/loss on trading investments -525,756. Underwriting support of foundation -308,888. Donated capital 1,066,577. Gain/loss on disposal of assets -258,037. Other changes 20,790.”

“Lake health's board of directors oversees the audit process and approves the independent audit firm. This process has not changed from prior year.”