Indiana Business Research Center: Most public hospitals submit annual reports late

Only 14 percent submitted annual reports on time

INDIANAPOLIS - More cities, towns and township are filing their annual financial reports than in years’ past, according to a new report from the Indiana Business Research Center .
           
Governmental entities are required by law to submit the reports by March 1st.

As of March 3, 88 percent of units had submitted their financial information.

This is the first year public hospitals have to submit reports, which may be part of the reason only 4 of the 29 hospitals submitted on time, according to the report.

Annual reports allow taxpayers to see how their city, town, township or school district is spending their tax dollars.

“Basically, timely financial reporting indicates responsiveness to the public’s concerns and demonstrates managerial capability,” said Paul Joyce, Examiner of the State Board of Accounts.

“In a larger sense, producing timely, reliable financial reports helps to build trust and confidence in government.  Conversely, delayed reporting reduces the relevance and usefulness of the information reported and tends to erode the trust of constituents.”

The report indicated that 2013, if hospitals are subtracted, was the best year yet for on-time annual report submissions.

“I was happy to see that the number of local governments reporting on time was up,” said Joyce. “It does indicate that they are getting the message that this is an obligation and not just something that that may or may not do.  I won’t be satisfied though until we get to 100 percent of the units filing by the deadline established by law.”

Joyce said although progress is being made, there is still improvement to be made.

"We still have a way to go but I believe that through proper training and the power of persuasion we will get to the 100 percent level,” said Joyce.
 
Click here to see the list of hospitals, cities, towns, townships, etc who have not submitted their annual reports.

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