ANNUAL FINANCIAL REPORT

ANNUAL FINANCIAL REPORT AS REQUIRED BY THE

WEST VIRGINIA HEALTH CARE FACILITY FINANCIAL DISCLOSURE LAW FOR

Ohio Valley Nursing Home 222 Nicolett Road, Parkersburg, WV 26104          Balance Sheet                 December 31, 2014

ASSETS

Current Assets

Cash and cash equivalents                          $   336,777

Patient accounts receivable                               982,292

Inventories                                                           12,119

Prepaid expenses                                                95,836

Patient trust accounts                                         16,241

Total current assets                                         1,443,265

Property and equipment, net                           2,100,724

Land held for investments                                  840,724

Other assets                                                   3,941,476

Total assets                                                $ 8,326,189

LIABILITIES AND STOCKHOLDERáS EQUITY

Current Liabilities

Current maturities, long term debt                       140,638

Accounts payable                                              560,083

Other accrued liabilities                                      351,372

Patient deposits                                                   16,241

Total current liabilities                                      1,068,334

Long-term debt, less current maturities            2,998,456

Stockholderás Equity

Common stock                                                       5,000

Additional paid in capital                                    720,009

Retained earnings                                           3,534,390

Total stockholderás equity                                4,259,399

Total liabilities and stockholderás equity   $ 8,326,189

 

Ohio Valley Nursing Home

Statement of Revenues, Expenses and Changes in

Retained Earnings

Year Ended December 31, 2014

 

Revenues

Net patient service revenue                          $ 6,445,793

Other revenue                                                   295,587

Total revenue                                                6,741,380

Expenses

Salaries and wages                                         2,506,035

Payroll taxes and employee benefits                  657,265

Contract labor and purchased services              528,605

Supplies                                                            309,432

Food                                                                  216,002

Repairs and maintenance                                    55,682

Depreciation and amortization                            222,280

Insurance                                                          126,027

Utilities                                                               148,661

Taxes and licenses                                            298,799

Interest expense                                                206,580

Loss on partial disposition fo assets                     78,592

Other expenses                                            1,019,359

Total expenses                                             6,373,319

Net income                                                      368,061

Retained earnings, beginning of year           3,746,466

Distributions                                                     (580,137)

Retained earnings, end of year                 $ 3,534,390

 

Ohio Valley Health Care, Inc. is a C Corporation, 100{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} owned by Michael A. Miller.

 

NOTICE

 

All other reports, statements and schedules required to be filed with the Director of Health will be available for public inspection and copying at the office of the West Virginia Health Care Cost Review Authority, 100 Dee Drive, Charleston, West Virginia 25311, during regular hours 9:00 a.m. to 5:00 p.m., on any business day.

 

 

Jul 13