Statement of Revenues and Expenses
Amounts in 1,000s
For The Year Ended December 31, 2014
Revenue
Unrestricted revenues, gains and other support
Patient service revenue, gross and charity care $ 41,869
Charity care (1,114)
Contractual adjustments (16,764)
Provision for uncollectible accounts (1,999)
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Net patient service revenue 21,992
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Other operating revenue 670
Electronic health record incentive reimbursement 272
Investment income, net 12
Gifts and bequests –
Net assets released from restrictions –
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Total revenues, gains and other support 22,946
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Expenses
Expenses
Salaries and wages 7,602
Payroll taxes and benefits 1,894
Supplies and other 7,856
Corporate management fees 2,408
VPE allocation –
Depreciation and amortization 1,889
Interest expense 1,884
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Total expenses 23,493
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Excess (deficit) of revenues over expenses (547)
Other changes in net assets
Intercompany transfers, net 1,806
Net unrealized loss on investments –
Change in value of derivatives –
Change in pension plan funded status –
Earnings in equity of wholly-owned Subsidiaries –
Other changes –
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Increase (decrease) in unrestricted net assets $ 1,259
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Balance Sheet
Amounts in 1,000s
December 31, 2014
Assets
Current Assets:
Cash and cash equivalents $ 2,629
Investments –
Assets limited as to use 20,993
Patient accounts receivable, net 3,423
Estimated third-party settlements –
Due from related entities 139
Inventory of supplies 284
Other current assets 180
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Total Current Assets 27,648
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Assets limited as to use, noncurrent 205
Property & equipment, net 32,178
Other Assets:
Deferred financing costs, net 390
Goodwill 4,400
Investments 720
Investments in wholly owned subsidiaries –
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Total Other Assets 5,510
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Total Assets $ 65,541
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Liabilities and Net Assets
Current Liabilities:
Current installments of long-term debt $ 20,310
Accounts payable and accrued expenses 812
Accrued salaries and wages –
Third-party settlements 1,873
Interest payable –
Due to related entities 1,892
Other current liabilities 78
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Total Current Liabilities 24,965
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Long-term debt, excluding current installments 25,419
Accrued pension and post retirement obligations –
Other liabilities –
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Total Liabilities 50,384
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Net Assets:
Unrestricted 15,046
Temporarily restricted 111
Permanently restricted –
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Total Net Assets 15,157
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Total Liabilities and Net Assets $ 65,541
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State of Cash Flows
Amounts in 1,000s
For the Year Ended December 31, 2014
Operating Activities
Excess of Revenues Over (Under) Expenses $ (547)
Depreciation and Amortization 1,889
Provision for Uncollectible Accounts 2,022
Net Change in Working Capital & Other Liabilities (23,574)
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Net Cash Provided (Used) by Operations (20,210)
Investing Activities
Net Change in Property and Equipment (934)
Net Change in Investments 408
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Net Cash Provided (Used) by Investing Activities (526)
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Financing Activities
Net Change in Long-term Debt 20,728
Net Change in Due From (To) Affiliates (1,300)
Transfers From (To) Parent/Affiliates 1,806
Net Cash Provided (Used) by Financing Activities 21,234
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Net Increase (Decrease) in Cash and Cash Equivalents 498
Cash and Cash Equivalents – Beginning of Period 2,105
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Cash and Cash Equivalents – End of Period $ 2,603
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5-13-1c
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