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.
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