ANNUAL REPORT
OHIO VALLEY HEALTH SERVICES AND
EDUCATION CORPORATION, WHEELING, WV
Ohio Valley Health Services and Education Corporation is a non-stock, not-for-profit, corporation which operates Ohio Valley Medical Center, Incorporated, OVHS&E Foundation, Inc., East Ohio Regional Hospital at Martins Ferry, and River Health Enterprises, Inc., which are located in Wheeling, West Virginia and Martins Ferry, Ohio.
The details concerning the contents of this advertisement, together with the other reports, statements and schedules required to be filed, are available for public inspection and copying at the office of the West Virginia Health Care Authority, 100 Dee Drive, Charleston, WV 25311, during regular hours 9:00 a.m. to 5:00 p.m. on any business day.
OHIO VALLEY HEALTH SERVICES AND EDUCATION
CORPORATION BALANCE SHEET
December 31, 2015
ASSETS
Current Assets:
Cash and cash equivalents (352,543)
Assets limited as to use –
Investments 382,382
Affiliate receivables 33,921,779
Supplies inventory 13,199
Prepaid expenses and other current assets 354,028
Total current assets 34,318,845
Assets limited as to use 6,185,537
Advances to subsidiaries 19,916,507
Property, plant and equipment-net 5,900,009
Other assets 729,663
TOTAL ASSETS 67,050,561
LIABILITIES AND NET ASSETS
Current Liabilities
Current portion of long-term debt 1,400,004
Accounts payable 11,491,826
Other accrued expenses 7,492,461
Total Current Liabilities 20,384,291
Advances from affiliate –
Long-term debt less current portion 34,861,375
TOTAL LIABILITIES 55,245,666
NET ASSETS
Unrestricted 11,568,079
Temporarily Restricted 69,316
Permanently Restricted 167,500
TOTAL NET ASSETS 11,804,895
TOTAL LIABILITIES AND NET ASSETS 67,050,561
STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2015
Other revenue 19,091,158
Net assets released from restrictions used for opeartions –
Total operating revenue 19,091,158
Operating Expenses
Salaries and wages 5,517,410
Fringe benefits 1,606,436
Supplies 1,409,981
Depreciation and amortization 495,363
Professional fees and purchased services 4,407,437
Interest 2,336,353
Rental, repairs and other 3,303,981
Utilities 7,340
Total operating expenses 19,084,301
Income (loss) from operations 6,857
Nonoperating gains 16,429
Excess (deficit) of revenue over expenses 23,286
Change in unrealized gain on investments (9,133)
Transfers (to) from affiliates (35,451)
INCREASE (DECREASE) IN UNRESTRICTED NET ASSETS (21,298)
ANNUAL REPORT
OHIO VALLEY MEDICAL CENTER, INC. WHEELING, WV
Ohio Valley Medical Center is a non-stock, not-for-profit corporation located in Wheeling, West Virginia. The Medical Center is a controlled subsidiary of Ohio Valley Health Services and Education Corporation.
The details concerning the contents of this advertisement, together with the other reports, statements, and schedules required to be filed, are available for public inspection and copying at the office of the West Virginia Health Care Authority, 100 Dee Drive, Charleston, WV 25311, during regular hours 9:00 a.m. to 5:00 p.m. on any business day.
OHIO VALLEY MEDICAL CENTER, INCORPORATED
BALANCE SHEET AT DECEMBER 31, 2015
ASSETS
Current Assets:
Cash and cash equivalents 2,704,367
Investments 77,478
Receivables-net 16,255,795
Inventories 3,205,537
Prepaid expenses 1,135,786
Total current assets 23,378,963
Assets whose use is limited-less current portion 3,512,869
Property, plant and equipment-net 26,025,616
Other assets 36,926
TOTAL ASSETS 52,954,374
LIABILITIES AND NET ASSETS
Current Liabilities:
Accounts payable 478,959
Estimated amounts due to third party payors 1,238,183
Current portion of long-term debt 698,429
Other accured liabilities 2,130,884
Affiliate payable 25,113,934
Total Current liabilities 29,660,389
Other liabilities 1,949,160
Accured pension costs and deferred compensation (8,781,293)
Advances from affiliate 12,816,507
Long-term debt less current portion 1,437,650
TOTAL LIABILITIES 37,082,413
NET ASSETS:
Unrestricted 12,382,747
Temporarily Restricted 665,737
Permanently Restricted 2,823,477
TOTAL NET ASSETS 15,871,961
TOTAL LIABILITIES AND NET ASSETS 52,954,374
STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2015
Net patient service revenue 106,794,377
Other revenue 5,215,062
Grants –
Net assets released from restrictions used for operations 58,022
Total operating revenue 112,067,461
Operating Expenses
Salaries and wages 41,533,790
Fringe benefits 10,320,853
Supplies 22,242,913
Purchased service 12,109,486
Depreciation and amortization 3,334,438
Intercompany allocation 11,569,612
Malpractice 69,764
Interest 164,429
Rental, repairs and other 7,866,286
Utilities 2,034,818
Total operating expenses 111,246,389
Income (loss) from operations 821,072
Investment income and other 29,008
Grants related to long-lived assets 1,500
Excess (deficit) of revenue over expenses 851,580
Net unrealized gain (loss) on investments –
Defined benefit pension plan adjustment (1,152,056)
Transfers (to) from affiliates 20,224
INCREASE (DECREASE) IN UNRESTRICTED NET ASSETS (280,252)
ANNUAL REPORT
OHIO VALLEY HEALTH SERVICES &
EDUCATION FOUNDATION, INC., WHEELING, WV
Ohio Valley Health Services and Education Foundation, Inc. is a non-stock, not-for-profit corporation which administers certain gifts, grants and bequests in Wheeling, West Virginia. The Ohio Valley Health Services and Education Foundation is a controlled subsidiary of Ohio Valley Services and Education Corporation.
The details concerning the contents of this advertisement, together with the other reports, statements, and schedules required to be filed, are available for public inspection and copying at the office of the West Virginia Health Care Authority, 100 Dee Drive, Charleston, WV, 25311, during regular hours 9:00 a.m. to 5:00 p.m on any business day.
OHIO VALLEY HEALTH SERVICES AND EDUCATION
FOUNDATION, INC. BALANCE SHEET
December 31, 2015
ASSETS
Current Assets:
Affiliate receivables –
Prepaid expenses 500,100
Total Current Assets 500,100
Assets whose use is limited-less current portion 1,137,730
TOTAL ASSETS 1,637,830
LIABILITIES AND NET ASSETS
Current Liabilities: –
Affiliate payable 450,306
NET ASSETS:
Unrestricted 87,608
Temporarily Restricted 1,079,015
Permanently Restricted 20,901
TOTAL NET ASSETS 1,187,524
TOTAL LIABILITIES AND NET ASSETS 1,637,830
STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2015
Other operating revenues –
Net assets released from restrictions 16,124
Total operating revenue 16,124
Operating Expenses
Salaries and wages 9,670
Fringe benefits 708
Supplies –
Professional fees –
Intercompany allocation 4,239
Rentals, repairs and other 140,381
Total operating expenses 154,998
Income (loss) from operations (138,874)
Nonoperating gains 184,926
Excess (deficit) of revenue over expenses 46,052
Transfer (to) from affiliates 2
INCREASE (DECREASE) IN UNRESTRICTED NET ASSETS 46,054
ANNUAL REPORT
RIVER HEALTH ENTERPRISES, INC., WHEELING, WV
River Health Enterprises, Inc., is a stock, for-profit corporation which operates various health clinics and manages property in Ohio and West Virginia. River Health Enterprises is a controlled subsidiary of the Ohio Valley Health Services and Education Corporation.
The details concerning the contents of this advertisement, together with the other reports, statements, and schedules required to be filed, are available for public inspection and copying at the office of the West Virginia Health Care Authority, 100 Dee Drive, Charleston, WV, 25311, during regular hours 9:00 a.m. to 5:00 p.m on any business day
RIVER HEALTH ENTERPRISES
BALANCE SHEET
December 31, 2015
ASSETS
Current Assets:
Cash and short term investments 100
Patient accounts receivable-net (4,303)
Total current assets (4,203)
Property, plant and equipment-net 2,417,767
TOTAL ASSETS 2,413,564
LIABILITIES AND NET ASSETS
Current Liabilities:
Accounts payable 60
Affiliate payables 2,164,999
Other accrued expenses 44,154
Current portion of long-term debt –
Total Current liabilities 2,209,213
Advances from affiliate 100,000
Long-term debt less current portion –
TOTAL LIABILITIES 2,309,213
Common stock 1,000
Retained earnings 103,351
TOTAL EQUITY 104,351
TOTAL LIABILITIES AND EQUITY 2,413,564
STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2015
Net patient service revenue –
Other operating revenue 262,848
Total operating revenue 262,848
Operating Expenses
Salaries and wages 35,357
Fringe benefits 2,605
Purchased service 2,357
Intercompany allocation 12,062
Supplies 16,573
Utilities 63,552
Rental, repairs, insurance and other 81,381
Depreciation and amortization 195,778
Interest 0
Total operating expenses 409,665
Income (loss) from operations (146,817)
Nonoperating gain (loss) –
Excess (deficit) of revenue over expenses (146,817)
Transfer (to) from affiliates 9
INCREASE (DECREASE) IN RETAINED EARNINGS (146,808)
Int. May 21, 2016
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