Mayo Reports Strong 2nd Quarter Results
Rochester, MN (KROC-AM News) - The Mayo Clinic’s finances continued to improve in the second quarter of this year.
A required filing shows Mayo’s unrestricted revenues totaled almost $2.8 billion for the three-month period ending June 30th. That’s up $109 million when compared to the second quarter of 2015.
Mayo’s expenses rose $190 million, with increases in salaries and benefits accounting for $132 million of that total.
The health care organization’s net income from current activities was pegged at $165 million for April, May, and June of this year. A year ago, that figure was $146 million.
For the first six months of this year, unrestricted revenues have risen $411 million from a year ago to $5.46 billion. Mayo’s expenses rose $370 million when compared to the first half of last year, while net income from activities is up $41 million-$283 million.
The unaudited report was filed with the online Electronic Municipal Market Access site, a service of the Municipal Securities Rulemaking Board. The report is required because of municipal bonds sold by Mayo to finance various economic development projects.