Randolph

ELKINS REGIONAL CONVALESCENT CENTER, INC. STATEMENT OF FINANCIAL POSITION

ELKINS REGIONAL CONVALESCENT CENTER, INC.
STATEMENT OF FINANCIAL POSITION
December 31, 2014

ASSETS
CURRENT ASSETS
Cash $ 2,257,100
Assets whose use is limited 451,945
Resident receivables, net 926,668
Other current assets 422,908

TOTAL CURRENT ASSETS 4,058,621

INVESTMENTS 624,485

ASSETS WHO USE IS LIMITED, long-term portion 250,446

PROPERTY AND EQUIPMENT, at cost
Land and land improvements 714,684
Building and equipment 10,314,950
11,029,634

Less accumulated depreciation 5,695,621

PROPERTY AND EQUIPMENT, net 5,334,013

OTHER ASSETS
Bond issue costs, net 91,610

TOTAL ASSETS $ 10,359,175

LIABILITIES AND NET ASSETS

CURRENT LIABILITIES
Current maturities of long-term debt $ 303,441
Accounts payable and accrued expenses 1,289,200

TOTAL CURRENT LIABILITIES 1,592,641

LONG-TERM DEBT, net of current maturities 4,832,588

NET ASSETS
Unrestricted 3,933,946

TOTAL LIABILITIES AND NET ASSETS $ 10,359,175

UNRESTRICTED REVENUES, GAINS AND
OTHER SUPPORTNet patient revenues
Net patient revenues $ 9,881,158
OTHER REVENUE 172,785
10,053,943

EXPENSES
Salaries and wages 4,167,974
Employee benefits 1,701,019
Taxes, utilities, insurance and other expenses 3,110,056
Depreciation and amortization 332,343
Interest 118,951
TOTAL EXPENSES 9,430,343

Excess of unrestricted revenues, gains and other
support over expenses 623,600

UNREALIZED LOSS ON INVESTMENTS (30,628)

Increase in unrestricted net assets 592,972

Net assets at beginning of year 3,340,974

NET ASSETS AT END OF YEAR $ 3,933,946

Elkins Regional Convalescent Center, Inc. is a private non-stock, not-for-profit corporation.

Details concerning the contents of this advertisement along with other reports, statements and schedules are available for copying and public inspection at the West Virginia Health Care Authority, 100 Dee Drive, Charleston, West Virginia, during regular business hours 9:00 a.m. to 5:00 p.m. any business day. There is a charge for copying. Elkins Regional Convalescent Center, Inc. provides employment opportunities and skilled and intermediate care without regard to race, color, sex, age, disability, or national origin.
4/16, 4/23