Genesis HealthCare – Parkersburg Center
Parkersburg, WV
December 31, 2016
BALANCE SHEET
ASSETS
Current Assets
Cash in Bank 14,468
Accounts Receivable 649,171
Inventories 29,643
Prepaids & Other Current Assets (8,530)
Related Party Receivable 3,694,940
Total Current Assets 4,379,692
Property & Equipment Net 12,775,087
Other Assetts (497)
Total Assets 17,154,282
LIABILITIES AND EQUITY
Current Liabilities
Accounts Payable 145,902
Accrued Expenses & Payroll Withholdings 189,580
Total Current Liabilities 335,481
Long Term Liabilities
Escheatable Funds 918
L/T Debt Capital Lease Obligation 17,057,554
Total Long Term Liabilities 17,058,472
Equity (239,671)
Total Liabilities and Equity 17,154,282
INCOME STATEMENT
Revenue
Nursing Home Revenue 6,490,019
Other Operating 848
Total Operating Revenue 6,490,867
Expenses
Nursing Services 1,792,624
General and Administrative 1,528,096
Other Operating 1,494,526
Interest 1,462,216
Depreciation and Amortization 550,541
Total Expenses 6,828,003
Net Income (337,135)
Net loss (337,135)
Adjustment to reconcile net loss
Cash Flows from Operating Activities
Depreciation & Amortization 550,541
Decrease in trade receivables 14,487
Decrease in inventory 759
Decrease in prepaid & other current assets 8,010
Decrease in accounts payable & accrued
expenses (40,732)
Increase in related party accounts (395,862)
Net cash used by operating activities (199,933)
Cash Flows from Investing Activities
Increase in Property, Plant, & Equip (60,005)
Net cash used in investing activities (60,005)
Cash Flows from Financing Activities
Increase in L/T Debt Capital Lease Obligation 263,631
Net cash provided by financing activities 263,631
Increase in cash balance 3,693
Cash, beginning of the year 10,775
Cash, end of the year 14,468
Regency Health Services, LLC
OWNERSHIP:
The statements are provided pursuant to the Health Care Facility Disclosure Laws. I certify that the above audited statements are true and correct to the best of my knowledge. This financial data is available for public inspection at the office of the West Virginia Health Care Cost Review Authority, 100 Dee Drive, Charleston, WV during regular hours, 9:00 a.m. to 5:00 p.m. on any business day.
Apr 14