Mayo Clinic’s Net Income Down From 2014
Rochester, MN (KROC AM News) - In a required financial filing, Mayo Clinic is reporting a drop in its overall income during the first half of this year compared to the same period a year ago, despite an increase in revenue.
Mayo’s report shows total revenue through the end of June was just over $5.05 billion. That’s about $280 million more than the total from the six month period last year. But the report shows total expenses went up by about $400 million during the 2015 period. That left Mayo's net income for the first half of this year at $242 million, down about $100 million from last year.
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.