Randolph

Davis Memorial Hospital Balance Sheet December 31, 2014

Davis Memorial Hospital
Balance Sheet
December 31, 2014

ASSETS
Current Assets
Cash and cash equivalents $ 2,173,763
Patient Accounts Receivable, Net 11,259,747
Supplies Inventory 1,631,644
Assets Limited as to use 987,965
Prepaid expenses and other current assets 1,293,911
Total Current Assets 17,347,030

Assets Limited As to Use, Net of Current Portion 7,206,693

Property and Equipment, Net 36,727,416

Other Assets
Due from affiliates 10,559,920
Investment in unconsolidated subsidiary 3,436,427
Deferred bond issuance costs, net 101,067
Other Assets 110,984
Other receivables 864,459
15,072,857
Total Assets $ 76,353,996

LIABILITIES AND NET ASSETS
Current Liabilities
Current maturities of long-term obligations 3,602,480
Accounts Payable 4,836,697
Employee Compensation and payroll taxes 3,217,305
Accrued Interest 101,914
Accrued Malpractice Cost 60,662
Estimated Third Party Settlements 405,537
Post retirement benefit obligation 175,500
Due to Affiliates 932,875
Total Current Liabilities 13,332,970

Long-Term Obligations, net of current maturities 19,261,297

Other Liabilities
Post retirement benefit obligation, net of
Current portion 1,030,981
Deferred Income 304,169
Total other liabilities 1,335,150

Total Liabilities 33,929,417

Net Assets
Unrestricted 42,424,579
Total Net Assets 42,424,579

Total Liabilities and Net Assets $ 76,353,996

Davis Memorial Hospital
Statement of Operations
Year Ended December 31, 2014

Unrestricted revenues, gains and other support:
Net patient service revenue $ 91,478,405
Other Revenue 2,597,963
Total revenues, gains and other support 94,076,368

Operating Expenses
Salaries and wages 35,914,634
Payroll taxes and benefits 10,027,507
Professional fees and contracted services 6,707,843
Supplies and other expenses 20,580,819
Insurance 885,926
Repairs and maintenance 1,805,663
Interest 1,006,043
Depreciation and Amortization 5,394,872
Provision for bad debts 9,930,130
Total Expenses 92,253,437

Operating Income/(Loss) $ 1,822,931

Other Income (Loss)
Investment Income 417,997
Decrease in retained earnings of
unconsolidated subsidiary 227,404
Gain (Loss) on disposal of assets 2,000
Contributions 8,957
Total other income 656,358

Excess Revenue over Expenses $ 2,479,289

Davis Memorial Hospital
Statement of Changes in Net Assets
Year Ended December 31, 2014

Net assets, December 31, 2013 $ 38,616,136
Excess of revenues over expense 2,479,289
Changes in net unrealized gains and losses on
Other than trading securities (106,366)
Return of Capital 2,830,000
Transfers to affiliates – net (1,394,480)
Changes in net assets 3,808,443

Net assets, December 31, 2014 42,424,579
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