Camden Clark Medical Center Parkersburg, West Vlrgina Year Ended December 31, 2015
BALANCE SHEET
(000ás Omitted)
Assets:
Current assets:
Cash and cash equivalents 7,141
Assets whose use is limited 4,647
Patient account receivables, net 26,284
Other receivables 889
Affiliates 1,596
Inventories 5,190
Prepaid expenses and other current assets 6,028
Total current assets 51,775
Assets whose use is limited:
Board-designated funds:
Funded depreciation 33,027
Malpractice self-insurance trust fund 8,291
Under trust indenture, held by bond trustee 27,138
68,456
Less funds held by trustee that are
required to satisfy current obligations 68,456
Property, plant and equipment –net 131,596
Deferred financing costs, net 3,844
Other assets, net 11,225
Total assets $266,896
Liabilities and net assets:
Current liabilities
Current maturities of long-term debt 13,775
Accounts payable and other accrued expenses 9,514
Due to affiliates 8,117
Estimated third-party payor settlements (1,647)
Accrued wages and fringe benefits 8,857
Accrued interest payable 735
Current portion of estimated medical malpractice 1,600
Total current liabilities 40,951
Long-term obligations:
Long Term Debt 208,368
Estimated Medical Malpractice Claims Liability 7,873
Pension 4,360
Derivative Financial Instruments 17,522
Other Liabilities 808
Total Long-term Obligations 238,931
Total liabilities 279,882
Net assets – unrestricted (12,986)
Total liabilities and net assets $266,896
STATEMENT OF OPERATIONS AND CHANGES IN
NET ASSETS
(000ás Omitted)
Unrestricted Revenues, Gains and Other Support:
Net patient service revenue 231,228
Provision for doubtful collections (9,941)
Other revenue 5,806
Total unrestricted revenues, gains and other support
227,093
Expenses:
Salaries and wages 77,501
Employee benefits 19,581
Supplies and purchased services 102,912
Depreciation and amortization 16,675
Interest 7,773
Total expenses 224,442
Operating Income (Loss) 2,651
Other Income (Loss):
Investment (loss) income (350)
Changes in fair value of derivative financial instruments
340
(Loss) gain on disposal of property and equipment
(25,545)
Other, net 14
Revenue (Less Than) in Excess of Expenses (22,890)
Other 1,756
Net transfers from (to) affiliates (32,316)
Increase (decrease) in net assets (53,450)
Net assets, beginning of the year 36,707
Net assets, end of year (16,743)
May 24