Firelands Regional Medical Center

“The audit and corporate compliance committee has been delegated the authority by the firelands regional health system board of directors to review and approve all form 990s for all companies in the system. The final version of the respective form 990 is made available to the chair of the audit and corporate compliance committee for review and approval prior to the form 990 being submitted to the internal revenue service.”

“As provided in the code of regulations for firelands regional health system, firelands regional medical center, and the foundation for firelands (collectively known as "firelands"), annually, conflict of interest questionnaires are prepared and provided to the directors, officers, and committee members of firelands. During the annual meetings of the health system, medical center and foundation, the general counsel / corporate compliance officer presents a summary to the directors, officers, and committee members of firelands' conflict of interest program. Part of that summary is a reminder to those directors, officers and committee members that they have a duty during the year to report to the chair, vice chair, president/ceo, or the general counsel / corporate compliance officer of a potential conflict of interest. All directors, officers and committee members are required to return their annual conflict of interest questionnaire to the firelands legal department. If a potential conflict of interest does arise, then the board policy on resolving conflict, administrative policy 100.17, is utilized. The conflict of interest questionnaires are on file with the firelands legal department and are retained for a minimum of ten (10) years”

“The process for determining compensation is delegated by the board of directors to the executive committee. The executive committee appoints a compensation sub-committee which utilizes an independent third party to evaluate the appropriate pay range for the ceo and other key management positions at like-sized and similar hospitals in the same geographic region. The sub-committee makes a recommendation to the executive committee based on their research and findings. The executive committee approves the annual salaries of the ceo and all vice presidents. This process is completed annually.”

“Financial statements of the organization are made available via a quarterly "report to bond holders" which is sent to any constituants, bond holders or interested parties who request to be on the distribution list. Quarterly reports and the audited consolidated financial statements are also posted timely at http://www.msrb.org/ utilizing the emma system. Governing documents and the conflict of interest policy are available to the public by special request.”

“Purchased services: program service expenses 5,791,248. Management and general expenses 6,634,247. Fundraising expenses 6,140. Total expenses 12,431,635. Physician fees: program service expenses 16,624,364. Management and general expenses 1,238,882. Fundraising expenses 0. Total expenses 17,863,246. Purchased maintenance: program service expenses 2,098,360. Management and general expenses 400,081. Fundraising expenses 0. Total expenses 2,498,441. Professional fees: program service expenses 807,603. Management and general expenses 0. Fundraising expenses 0. Total expenses 807,603. Collection agency fees: program service expenses 0. Management and general expenses 352,283. Fundraising expenses 0. Total expenses 352,283.”

“School of nursing funding -80,053. Pension adjustments 15,971,857. Net transfer (to)/from affiliates -15,860,505. Partnership income/(loss) related to schedule k-1s 43,497. Reclass scholarships 1,000.”

“Financial statements for firelands regional medical center are audited by plante moran, pllc as part of the consolidated financial statements of firelands regional health system.”