FINANCIAL STATEMENT

MONTGOMERY ELDERLY CARE CENTER, INC. FINANCIAL STATEMENTS DECEMBER 31, 2015 ASSETS: Current Assets: Cash $649,656 Patient receivables 357,590 Supplies inventory 16,688 Prepaid expenses and other current assets :: Total current assets 1,024,234 Total property, plant and equipment, net 567,879 Other Assets Other receivable :: TOTAL ASSETS $1,592,113 LIABILITIES AND NET ASSETS: Current liabilities: Current maturities of long term debt Accounts payable 172,220 Patient trust funds 22,846 Accrued liabilities 205,698 Due to related party 77,361 Total Current Liabilities 478,125 Long-term debt :: Total liabilities 478,125 Net Assets, unrestricted 1,113,988 TOTAL LIABILITIES AND NET ASSETS: $1,592,113 REVENUES: Net patient service revenue $5,057,827 Other operating revenue 14,529 Total operating revenue 5,072,356 OPERATING EXPENSES: Salaries and wages 2,083,061 Payroll taxes and benefits 788,460 Professional fees and contracted services 332,148 Supplies and other expenses 1,220,673 Interest Depreciation expense 80,961 Loss on disposal of fixed asset :: TOTAL OPERATING EXPENSES; 4,505,303 Excess (deficiency) of revenues over expenses 567,053 Transfer from (to) related entity net (458,007) Increase (decrease) in unrestricted net assets 109,046 Unrestricted net assets, beginning of year 1,004,942 Unrestricted net assets, end of the year $1,113,988 Montgomery General Elderly Care Center, Inc. is a not for profit health care organization. All reports, statements, and schedules required to be filed with the Health Care Authority’s Office, 100 Dee Drive, Charleston, WV 25311, are available for public inspection at the Authority’s office during regular business hours, 9:00 a.m. to 5:00 p.m. on any business day. 9-7-WED-1-MH; LG 174