| Balance Sheet |
| Current Assets | 2011 | 2010 | Difference | Variances | | Current Liabilities | 2011 | 2010 | Difference | Variances |
| Cash and cash equivalents | $ 40,659,261 | $ 28,777,844 | $ 11,881,417 | | | Accounts payable and accrued expenses | $ 26,130,908 | $ 24,734,107 | $ 1,396,801 |
| Patient receivables, less allowance for uncollectible accounts
of $9,714,000 in 2011 and $9,059.000 in 2010 | $ 39,537,718 | $ 43,976,870 | $ (4,439,152) | | | Accrued wages and vacation payable | $ 18,670,208 | $ 17,364,152 | $ 1,306,056 |
| Current portion of assets whose use is limited or restricted | $ 2,953,097 | $ 2,856,845 | $ 96,252 | | | Estimated third-party settlements | $ 5,888,804 | $ 8,295,344 | $ (2,406,540) |
| Supplies at cost | $ 5,996,111 | $ 5,951,226 | $ 44,885 | | | Current installments on long-term debt | $ 10,270,197 | $ 9,857,917 | $ 412,280 |
| Prepaid expenses and other current assets | $ 14,938,995 | $ 123,343,332 | $ (108,404,337) | | | Other current liabilities | $ 1,796,458 | $ 1,979,206 | $ (182,748) |
| Total Current Assets | $ 104,085,182 | $ 93,897,107 | $ 10,188,075 | | | Total current liabilities | $ 62,756,575 | $ 62,230,726 | $ 525,849 |
| Assets whose use is limited or restricted: | | | | | | Other Liabilities |
| Assets held by trustee under bond indenture agreements | $ 5,092,814 | $ 5,599,454 | $ (506,640) | | | Accrued pension liability | $ 59,317,803 | $ 43,724,071 | $ 15,593,732 |
| Assets held in professional liability trust | $ 20,295,703 | $ 22,412,606 | $ (2,116,903) | | | Post-retirement medical benefits | $ 1,980,444 | $ 2,087,918 | $ (107,474) |
| Donor-restricted assets for specific purposes | $ 6,528,093 | $ 7,836,277 | $ (1,308,184) | | | Professional liability reserves | $ 21,658,232 | $ 19,644,441 | $ 2,013,791 |
| Donor-restricted assets for permanent endowment | $ 6,596,348 | $ 6,532,831 | $ 63,517 | | | Other noncurrent accrued liabilities | $ 15,774,629 | $ 15,897,112 | $ (122,483) |
| Beneficial interest in irrevocable trusts | $ 3,294,812 | $ 3,594,455 | $ (299,643) | | | Total Other Liabilities | $ 98,731,108 | $ 81,353,542 | $ 17,377,566 |
| Total Assets Whose Use is Limited or Restricted | $ 41,807,140 | $ 45,975,623 | $ (4,168,483) |
| | | | | | | Long -term debt: |
| Property, Plant, and Equipment | $ 172,959,339 | $ 179,249,390 | $ (6,290,051) | | | long-term debt – net of current portion | $ 121,047,107 | $ 127,360,256 | $ (6,313,149) |
| | | | | | | Total Liabilities | $ 282,534,790 | $ 270,944,524 | $ 11,590,266 |
| Other assets: |
| Long-term investments | $ 90,073,102 | $ 91,655,065 | $ (1,581,963) | | | Net assets: |
| Unamortized financing costs | $ 3,558,415 | $ 3,737,296 | $ (178,881) | | | Unrestricted | $ 119,510,803 | $ 132,157,954 | $ (12,647,151) |
| Other noncurrent assets | $ 10,028,362 | $ 10,313,382 | $ (285,020) | | | Temporarily restricted | $ 10,574,787 | $ 11,598,097 | $ (1,023,310) |
| Total Other Assets | $ 103,659,879 | $ 105,705,741 | $ (2,045,862) | | | Permanently restricted | $ 9,891,160 | $ 10,127,286 | $ (236,126) |
| TOTAL ASSETS | $ 422,511,540 | $ 424,827,861 | $ (2,316,321) | | | Total Net Assets | $ 139,976,750 | $ 153,883,337 | $ (13,906,587) |
| | | | | | | TOTAL LIABILITIES AND NET ASSETS | $ 422,511,540 | $ 424,827,861 | $ (2,316,321) |
| Income Statement |
| Unrestricted Revenue and Other Support | 2011 | 2010 | Difference | Variance |
| Net patient service revenue | $ 425,909,199 | $ 425,552,477 | $ 356,722 |
| Other revenue | $ 7,589,311 | $ 8,992,300 | $ (1,402,989) |
| Net assets released from restrictions used for operations | $ 1,282,318 | $ 1,023,688 | $ 258,630 |
| Total unrestricted revenue and other support | $ 434,780,828 | $ 435,568,465 | $ (787,637) |
| Expenses: |
| Salaries and wages | $ 196,304,042 | $ 196,599,763 | $ (295,721) |
| Physician salaries and fees | $ 33,901,510 | $ 35,021,804 | $ (1,120,294) |
| Fringe benefits | $ 47,640,300 | $ 46,325,951 | $ 1,314,349 |
| Supplies and contracted services | $ 114,959,471 | $ 115,150,545 | $ (191,074) |
| Uncompensated care pool assessment | $ 2,466,357 | $ 2,779,285 | $ (312,928) |
| Provision for bad debts — net | $ 10,910,272 | $ 10,078,529 | $ 831,743 |
| Depreciation and amortization | $ 19,728,647 | $ 20,681,479 | $ (952,832) |
| Interest | $ 3,449,624 | $ 3,566,984 | $ (117,360) |
| Total expenses | $ 429,360,223 | $ 430,204,340 | $ (844,117) |
| income from operations | $ 5,420,605 | $ 5,365,125 | $ 55,480 |
| Nonoperating gains (Losses) — net | $ 2,758,538 | $ (2,831,889) | $ 5,590,427 |
| excess (deficit) of revenue and
gains over expenses | $ 8,179,143 | $ 2,532,236 | $ 5,646,907 |
| Other Changes in Unrestricted Net Assets: |
| Net assets released from restrictions for purchase of
property, plant, and equipment | $ 663,850 | $ 394,342 | $ 269,508 |
| Pension and post-retirement related adjustments | $ (16,327,805) | $ (3,326,153) | $ (13,001,652) |
| Change in net unrealized gains and losses on investments | $ (5,162,339) | $ 7,277,676 | $ (12,440,015) |
| Other change — |
| total other changes in unrestricted net assets | $ (20,826,294) | $ 4,355,865 | $ (25,182,159) |
| decrease in unrestricted net assets | $ (12,647,151) | $ 6,888,101 | $ (19,535,252) |
meme81
ExcelDocumentApplication_AssignmentStudentVersion.xlsx
