OHSU Board approves audited financial reports

10/24/13  Portland, Ore.

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.

About OHSU

Oregon Health & Science University is the state’s only academic health and research university. As Portland's largest employer with nearly 14,000 employees, OHSU's size contributes to its ability to provide many services and community support not found anywhere else in the state. OHSU serves patients from every corner of Oregon and is a conduit for learning for more than 4,300 students and trainees. OHSU is the source of more than 200 community outreach programs that bring health and education services to each county in the state.