Genesis HealthCare – Parkersburg Center
Parkersburg, WV
December 31, 2014
BALANCE SHEET
ASSETS
Current Assets
Cash in Bank 41,525
Accounts Receivable 602,822
Inventories 28,815
Prepaids & Other Current Assets (7,524)
Related Party Accounts 6,589,745
Total Current Assets 7,255,383
Property and Equipment Net 7,649,080
Identifiable Intangible Assets – Favorable Lease 0
Other Assets 0
Total Assets 14,904,463
LIABILITIES AND EQUITY
Current Liabilities
Accounts Payable 183,666
Accrued Expenses & Payroll Withholdings 222,180
Current maturities of long-term obligations 0
Total Current Liabilities 405,846
Long Term Liabilities
Escheatable Funds 0
L/T Debt Capital Lease Obligation 14.086,430
Deferred G/L Straight-Lining Leases 0
LT Debt Financing Obligation 0
Total long Term Liabilities 14,086,430
Equity 412,186
Total Liabilities and Equity 14,904,463
Genesis HealthCare – Parkersburg Center
Parkersburg, WV
December 31, 2014
INCOME STATEMENT
Revenue
Nursing Home Revenue 6,223,892
Other Operating (16)
Total Operating Revenue 6,223,876
Expenses
Nursing Services 1,675,836
General and Administrative 1,284,637
Other Operating 1,554,115
Lease 0
Interest 1,005,581
Depreciation and Amortization 320,450
Non-Recurring 0
Total Expenses 5,840,620
Net Income 383,256
Genesis HealthCare – Parkersburg Center
Parkersburg, WV
December 31, 2014
Net Income 383,256
Adjustment to reconcile net income
Case Flows from Operating Activities
Depreciation & Amortization 320,450
Increase in trade receivables (102,670)
Increase in tinventory (4,190)
Increase in prepaid & other current assets (611)
Decrease in accounts payable & accrued expenses (51,544)
Increase in related party accounts (724,367)
Net cash used by operating activities (179,676)
Cash Flows from Investing Activities
Increase in Property, Plant, & Equip (35,501)
Decrease in deferred financing costs 0
Net cash used in investing activities (35,501)
Cash Flows from Financing Activities
Increase in L/T Debt Capital Lease Obligations 235,489
Contributed capital 0
Increase in LT Debt – Financing Obligation 0
Increase in Deferred G/L Straight-Lining Leases 0
Net cash provided by financing activities 235,489
Increase in cash balance 20,312
Cash, beginning of the year 21,213
Cash, end of the year 41,525
OWNERSHIP: Genesis WV Holdings LLC
The statements are provided pursuant to the Health Care Facility Disclosure Laws. I certify that the above audited statements are true and correct to the best of my knowledge. This financial data is available for public inspection at the office of the West Virginia Health Care Cost Review Authority, 100 Dee Drive, Charleston, WV during regular hours, 9:00 a.m. to 5:00 p.m. on any business day.
Apr 20