Hampshire

Hampshire Memorial Hospital Financial Statements

Statement of Revenues and Expenses
Amounts in 1,000s

For The Year Ended December 31, 2015

Revenue
Unrestricted revenues, gains and other support
Patient service revenue, gross and charity care    $    45,301
Charity care    (551)
Contractual adjustments    (20,284)
Provision for uncollectible accounts    (1,511)

Net patient service revenue    22,955

Other operating revenue    340
Electronic Health Record Incentive Reimbursement    227
Investment income, net    24
Gifts and bequests    –
Net assets released from restrictions    –

Total revenues, gains and other support    23,546

Expenses
Expenses
Salaries and wages    8,541
Payroll taxes and benefits    1,824
Supplies and other    7,916
Corporate management fees    2,205
VPE allocation    –
Depreciation and amortization    1,738
Interest expense    1,291

Total expenses    23,515

Excess (deficit) of revenues over expenses    31

Other changes in net assets
Intercompany transfers, net    1,653
Loss on Early Retirement of Debt    (867)
Net unrealized loss on investments    –
Change in value of derivatives    –
Change in pension plan funded status    –
Earnings in equity of wholly-owned Subsidiaries    –
Other changes    –

Increase (decrease) in unrestricted net assets    $     817
Balance Sheet
Amounts in 1,000s
December 31, 2015

Assets
Current Assets:
Cash and cash equivalents    $    4,501
Investments        –
Assets limited as to use    958
Patient accounts receivable, net    3,023
Estimated third-party settlements    –
Due from related entities    –
Inventory of supplies    271
Other current assets    73

Total Current Assets    8,826

Assets limited as to use, noncurrent

Property & equipment, net    31,294

Other Assets:
Deferred financing costs, net    373
Goodwill            4,400
Investments        579
Investments in wholly owned subsidiaries    –

Total Other Assets    5,352

Total Assets       $    45,472

Liabilities and Net Assets
Current Liabilities:
Current installments of long-term debt    $    405
Accounts payable and accrued expenses    227
Accrued salaries and wages    –
Third-party settlements    2,064
Interest payable    559
Due to related entities    539
Other current liabilities    –

Total Current Liabilities    3,794

Long-term debt, excluding current installments    25,814

Accrued pension and post retirement obligations    –

Other liabilities    –

Total Liabilities    29,608

Net Assets:
Unrestricted    15,864
Temporarily restricted    –
Permanently restricted    –

Total Net Assets    15,864

Total Liabilities and Net Assets    $    45,472

Statement of Cash Flows
Amounts in 1,000s
For the Year Ended December 31, 2015

Operating Activities
Excess of Revenues Over (Under) Expenses    $      (836)
Depreciation and Amortization    1,738
Provision for Uncollectible Accounts    1,511
Net Change in Working Capital & Other Liabilities    19,635

Net Cash Provided (Used) by Operations    22,048

Investing Activities
Net Change in Property and Equipment    (854)
Net Change in Investments    (140)
Net Cash Provided (Used) by Investing Activities    (994)

Financing Activities
Net Change in Long-term Debt    (19,510)
Net Change in Due From (To) Affiliates    (1,215)
Transfers From (To) Parent/Affiliates    1,654
Net Cash Provided (Used) by Financing Activities    (19,071)

Net Increase (Decrease) in Cash and Cash Equivalents    1,983
Cash and Cash Equivalents – Beginning of Period    2,518

Cash and Cash Equivalents – End of Period    $     4,501

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