NATCHEZ — Natchez Regional Medical Center was better off financially in 2011 than it was in 2010.

NRMC Chief Financial Officer Charles Mock presented the Adams County Board of Supervisors with the hospital’s financial audit for the fiscal year ending Sept. 20, 2011.

“Our total investment for 2011 was a little less than it was in 2010, and that is because we liquidated some of our prior obligations,” he said.

After the meeting, Mock said the hospital’s bankruptcy will be paid off in September.

The hospital saw a $327,000 increase in net assets in the most recent fiscal year, up from a $71,000 deficit in 2010.

While the hospital’s cash flow sheets show that NRMC spent $70,000 more than it took in, Mock said that number was reflective of the hospital making payments on its debts.

The hospital’s operating activities netted $2,655,000, whereas its financing activities — which include payments on short-term and long-term debt — reflect expenses of $2,726,000.

“We are paying off as much as we can,” he said. “The hospital is doing better than it has been — the sun is shining now.”

In 2010, the hospital had $18,699,000 in long-term debt. In 2011, that number fell to $15,892,000.

“The hospital was better off in 2011 than it was in 2010,” Mock said. “It turned around from a negative year to a positive year.”

The revenue statement Mock provided the supervisors reflected that the hospital incurred $3,142,000 in charity care costs in 2011, compared to $2,223,000 in 2010.

Likewise, the hospital saw $12,136,000 in bad patient debts in 2011, up from $9,900,000 in 2010.

“In that case, a patient may not have paid their bill, or they may have paid a part of their bill but not all of their bill,” Mock said. “That is a reflection of the economic times.”

Horne CPAs and Business Advisors performed the audit.