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Audit slams Miami-based Jackson Health System over money mess

Miami Herald, February 26, 2010

An audit of Miami-based Jackson Health System criticized management for a "significant deficiency" in its financial practices because it didn't identify highly overstated revenue estimates "in a timely manner." That overstatement led to a loss of $244.6 million for fiscal 2009, higher than Jackson estimated earlier this month. The loss was originally thought to be $46.8 million. The auditors recommended that, from now on, the system's governing board, the Public Health Trust, double-check Jackson's own number crunchers on a quarterly basis by getting an "independent review of all sensitive accounting estimates," the Miami Herald reports.