Camden Clark Medical Center Parkersburg, West Vlrgina Year Ended December 31, 2016
BALANCE SHEET
(000ás Omitted)
Assets:
Current assets:
Cash and cash equivalents 6,580
Assets whose use is limited 3,026
Patient account receivables, net 24,617
Other receivables 1,778
Affiliates 2,239
Inventories 5,374
Prepaid expenses and other current assets 4,844
Total current assets 48,458
Assets whose use is limited:
Board-designated funds:
Funded depreciation 34,926
Malpractice self-insurance trust fund 6,862
Under trust indenture, held by bond trustee 8,926
50,714
Less funds held by trustee that are
required to satisfy current obligations 50,714
Property, plant and equipment –net 143,623
Deferred financing costs, net
Other assets, net 11,051
Total assets $253,846
Liabilities and net assets:
Current liabilities
Line of credit 9,550
Current maturities of long-term debt 4,265
Accounts payable and other accrued expenses 7,967
Due to affiliates 12,564
Estimated third-party payor settlements (640)
Accrued wages and fringe benefits 8,865
Accrued interest payable 212
Current portion of estimated medical malpractice 2,804
Total current liabilities 45,587
Long-term obligations:
Long Term Debt 199,066
Estimated Medical Malpractice Claims Liability 8,228
Pension 2,474
Derivative Financial Instruments 15,444
Other Liabilities 922
Total Long-term Obligations 226,134
Total liabilities 271,721
Net assets – unrestricted (17,875)
Total liabilities and net assets $253,846
STATEMENT OF OPERATIONS AND CHANGES IN
NET ASSETS
(000ás Omitted)
Unrestricted Revenues, Gains and Other Support:
Net patient service revenue 242,910
Provision for doubtful collections (14,870)
Other revenue 7,782
Total unrestricted revenues, gains and other support
235,822
Expenses:
Salaries and wages 76,782
Employee benefits 18,775
Supplies and purchased services 104,742
Depreciation and amortization 13,513
Interest 7,202
Total expenses 221,014
Operating Income (Loss) 14,808
Other Income (Loss):
Investment (loss) income 2,528
Changes in fair value of derivative financial instruments
2,078
(Loss) gain on disposal of property and equipment 0
Other, net (368)
Loss on refinancing (2,077)
Revenue (Less Than) in Excess of Expenses 16,969
Pension Liability Adjustment (540)
Other (441)
Net transfers from (to) affiliates (20,877)
Increase (decrease) in net assets (4,889)
Net assets, beginning of the year (12,986)
Net assets, end of year (17,875)
May 18