ANNUAL REPORT [SEC RULE 15C2-12]

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "ANNUAL REPORT [SEC RULE 15C2-12]"

Transcription

1 ANNUAL REPORT [SEC RULE 15C2-12] $40,500,000 LOUISIANA PUBLIC FACILITIES AUTHORITY HOSPITAL REVENUE REFUNDING BONDS (TOURO INFIRMARY PROJECT) SERIES 2015 Touro Infirmary (the "Corporation") hereby submits this Annual Report pursuant to SEC Rule 15c2-12 with respect to the captioned bonds and Section 3 of the Continuing Disclosure Agreement dated April 24, 2015 (the "Disclosure Agreement"), by and between the Corporation and The Bank of New York Mellon Trust Company, N.A., as the trustee. Capitalized terms used herein and not otherwise defined have the meanings assigned thereto in the Official Statement dated May 15, Attached as Exhibit A is a copy of the audited financial statements for the Corporation for the fiscal year ended December 31, Reference is made to Note 1 for a description of the organizational structure of the Corporation and its subsidiaries and Note 7 for a description of the Corporation s 2015 acquisition of a 49% interest in Crescent City Surgical Center ( CCSC ). Set forth below is the updated operational data required by the Disclosure Agreement. General Description of Services Touro Infirmary ( Touro or the Hospital ) provides comprehensive services including 24-hour emergency services, general medicine, critical care, surgical, rehabilitation, and obstetrics/gynecology services. These services are complimented by a complete range of diagnostic and therapeutic services. The licensed bed composition is as follows: Bed Type Table Bed Type Rooms Licensed Beds Medical Surgical Intensive Care Obstetrics Rehabilitation Total Licensed Beds Additional Capacity Nursery NICU Total Bed Capacity Source: Hospital Licensure Reports 1

2 Medical Staff The Medical Staff of the Hospital represents a diverse physician population of both academic and community physicians. The Medical Staff had a net gain of 35 physicians for A majority of the physicians were associated with Louisiana State University ( LSU ). However, several community physicians also joined the staff. Physicians representing the surgical specialties of breast surgery, bariatric surgery, and colon and rectal surgery were among the additions. Touro Infirmary continues to have strong Medical Staff leadership and recruit new talent to the organization. Despite age, Touro also has a dedicated cohort of physicians who continue to practice. Of physicians age 66 and above, the percentage of total admissions increased from 17% for 2014 to 25% for /31/2015 Composition of Medical Staff Staff Category Number of Physicians Percent Active % Courtesy % House Physician 14 2% Total % Source: Hospital Medical Staff Office Over the past five years, the Hospital has experienced a net increase of 86 physicians in its Medical Staff and had a total of 600 physicians on staff as of December 31, The table below summarizes the additions and deletions to the Medical Staff of the Hospital during the past five years. Medical Staff Turnover Year Additions Deletions Net Increase/ (Decrease) (13) (2) Source: Hospital Medical Staff Office 2

3 2015 Admissions by Medical Staff by Age Group Percentage of Age Group Number of Physicians (had at least one inpatient admit) Total Admissions 35 and below 33 10% % % % 66 and above 38 25% Total % Source: Hospital Medical Staff Office Top Ten Admitting Physicians Physician Specialty Age Board Certified 2015 Admits % of Total Admits 1 Internal Medicine 67 Y % 2 Pediatrics 66 Y % 3 Pediatrics 70 N % 4 OB/GYN 46 Y % 5 Pediatrics 69 Y % 6 Internal Medicine 51 Y % 7 OB/GYN 45 Y % 8 OB/GYN 55 Y % 9 OB/GYN 50 Y % 10 Internal Medicine/ Cardiology 46 Y % % * Includes adults and nursery admits for the year ended December 31, Source: Hospital Medical Staff Office 3

4 Historic Utilization Admissions (excludes Nursery) Medical Surgical Rehabilitation NICU TOTAL Fiscal Year Ended December , ,837 10, ,747 10, ,456 Patient Days - (excludes Nursery) Medical Surgical Rehabilitation NICU TOTAL 49,486 14,418 6,108 70,012 50,733 15,088 5,553 71,374 48,985 14,940 5,339 69,264 Average Daily Census Emergency Department Visits Outpatient Surgeries Home Health Visits Deliveries ,083 4,633 20,913 3, ,441 4,423 22,171 3, ,002 5,054 22,165 3,516 Source: The Corporation Market Share The following table sets forth historical data regarding the Corporation and certain other hospitals within the service area of the Corporation. The hospitals included in this comparison have been selected by the Corporation due to their close physical proximity to the Corporation and because of their direct competition with the Corporation. Historical Data Regarding the Corporation and Certain Other Orleans Parish Hospitals Discharges Orleans Parish *Q1-Q Touro Infirmary 10,875 10,820 7,820 Ochsner Baptist Campus 1,908 3,706 3,261 Tulane University Hospital 6,049 6,081 4,710 LSU Interim Public Hospital/UMC 4,080 4,212 3,323 Patient Days Orleans Parish *Q1-Q Touro Infirmary 52,555 54,150 39,130 Ochsner Baptist Campus 7,257 14,610 11,663 Tulane University Hospital 29,605 28,584 22,486 LSU Interim Public Hospital/UMC 26,559 25,997 19,950 Source: Truven/Thomson Reuters Louisiana Health Information Network (LHIN), includes normal newborns *Q1-Q3 data time period = Jan 1, 2015 Sept 30, Data for Q not yet available. Ochsner Health System relocated services from its Jefferson Parish Hospital to Ochsner Baptist Campus in January

5 Summary of Consolidated Revenues and Expenses of Unrestricted Funds Consolidated Summary of Revenues and Expenses of Unrestricted Funds Fiscal year Ended December 31, (000's omitted) Net Patient Service Revenues $ 341,754 $ 281,831 $ 324,302 Provision for Uncollectible Accounts 7,261 9,921 11,767 Net Patient Service Revenues Less Provision 334, , ,535 Other Operating Revenues 14,466 19,360 22,277 Total Operating Revenues 348, , ,812 Operating Expenses Salary and Employee Benefits 136, , ,095 Purchased Services, Supplies & Other 115, , ,228 Depreciation and Amortization 17,794 19,601 19,834 Impairment Interest 2,028 2, Total Operating Expenses 271, , ,135 Income from Operations 77,139 5,440 29,677 Non-Operating Gains and (Losses) Investment Income (Loss) 3,752 3,202 (353) Other Non-Operating Gains and (Losses) (4,849) (985) (1,875) Total Non-Operating Gains and (Losses) (1,097) 2,217 (2,228) Increase in Unrestricted Net Assets before adjustments noted below: 76,042 7,657 27,449 Net Assets Released from Restriction 525 1, Increase in Unrestricted Net Assets 76,567 9,453 28,340 Non-controlling Interests in Income of Consolidated Subsidiaries (51) (120) (122) Increase in Unrestricted Net Assets Before Other Changes 76,516 9,333 28,218 Adjustment to Pension Liability 5,385 (4,416) 1,270 Increase in Unrestricted Net Assets $ 81,901 $ 4,917 $ 29,488 Source: Audited Financial Statements of the Corporation 5

6 Sources of Patient Service Revenues The Corporation receives payment for services from commercial insurers and other private payors, the State of Louisiana under the Medicaid program, Health Maintenance Organizations ("HMO's"), other managed care entities including Medicaid managed care, the federal government under the Medicare program and directly from patients. Historical Payor Mix by Gross Revenue Medicare Managed Medicare Medicaid (includes Medicaid Mgd Care) Managed Care Other Worker's Compensation Private Pay & Charity % 24.6% 24.1% 23.2% 24.4% 24.9% 21.2% 19.1% 19.4% 24.7% 3.0% 0.7% 2.5% 25.6% 3.3% 0.5% 2.5% 26.2% 3.0% 0.7% 1.7% Source: The Corporation Selected Audited Balance Sheet Items Fiscal year Ended December 31, (000's omitted) Cash and Cash Equivalents 77,469 52,333 31,396 Funds internally designated by Board for: Capital projects and Specific Programs 46,254 47,921 47,217 Restricted by Bond Indenture, Debt Service Reserve 9,571 9,571 3,219 Other Restricted Purpose funds 1, Donor-restricted long-term investments 11,560 11,890 11,582 Total Cash Available 146, ,322 93,446 Long Term Bonds Payable 70,514 68,320 60,332 Unrestricted Net Assets 191, , ,614 Total Assets 336, ,661* 356,865 *Amount restated for consistency with 2015 classifications Source: Audited Financial Statements of the Corporation 6

7 Management's Discussion and Analysis of Recent Financial Performance Total operating revenues, consisting of both net patient service revenues and other operating revenues, were $334.8 million in fiscal year 2015, a decrease of $14.1 million (4.1%) from The decrease is attributed to a reduction in the Medicaid Supplemental Revenues ( MSR ) received from the State. In 2013, 2014 and 2015 the Corporation recorded MSR of $80.1 million, $21.7 million and $48.7 million, respectively. The $31.4 million reduction in MSR from 2013 was partially offset by a growth in the Corporation s net patient service revenue of $9.5 million (3.7%) during the same periods. In addition, from 2013 to 2015, other operating revenues grew by $7.8 million (54%). Overall inpatient volumes (excluding nursery) declined from 2013 to 2015; inpatient admissions were down 3.2% while inpatient days were down 1.1%. In spite of these inpatient declines the Hospital s net patient service revenues (excluding MSR) increased $8.7 million (4.0%) due to some favorable changes in patient service mix (i.e. Rehabilitation growth), generalized outpatient services growth (particularly infusion therapy, surgery and imaging services), negotiated/inflationary reimbursement rate increases and implementation of the strategic revenue cycle improvements recommended by Huron Consulting. Deliveries increased 5% from 2013 to Touro s delivery volumes were ranked as third largest in the State during 2013 and second in the State in 2014 and Emergency department (ED) visits decreased by 3.2% (2013 to 2015). The decrease is attributed to the openings of the new University Medical Center facility in August 2015 and the new New Orleans East Hospital ( NOEH ) in July 2014, both of which has syphoned off some ED volumes (primarily self-pay and Medicaid patients) into those facilities. During 2015, NOEH transferred 149 inpatients to Touro for services NOEH does not provide. The Corporation s employed physician network CCPI has increased from 50 physicians in 2013 to 55 in 2015; net revenues have remained relatively unchanged with an increase of $.3 million (1.2%) from 2013 to Woldenberg increased its net patient service revenue by $.5 million (3.4%) from 2013 to The improvements in recent years (including ) have been achieved by increasing independent unit occupancy by approximately 10.0% and an improvement in the nursing home payor mix. The Corporation has invested during the past several years in upgrades to modernize the aesthetics and amenities of the independent living units. For the Corporation, other non-patient operating revenues increased by $7.8 million (54%) from 2013 to 2015 primarily as a result of the new incoming CCSC earnings of $3.7 million (representing the Corporation s share of that facility s earnings), the increase in 340B retail pharmacy program revenue of $3.1 million and $1.1 million in new management related income for the Corporation s management of the NOEH facility. Electronic Health Record ( EHR ) Incentive Payments decreased in 2015 compared to prior years as the incentive payment program nears completion. The Corporation received EHR payments of $2.6 million, $1.5 million and $0.3 million in 2013, 2014 and 2015, respectively. These payments to the Corporation are funded by the programs established by the American Recovery and Reinvestment Act of 2009 for professionals and hospitals that adopt a meaningfully use certified EHR technology. Total operating expenses were $305.1 million in fiscal year 2015, an increase of $33.3 million (12.3%) from The Corporation has continued to provide its workforce market competitive merit increases while simultaneously focusing on the improvement of the efficiency of the workforce and the infrastructure of management positions. Salary and Employee Benefits have increased $13.6 million (10%) between 2013 and An increase of $2.7 million occurred in the Corporation's employed physician network as physicians were hired to expand existing services into new service areas and physician benefit packages were enhanced to remain 7

8 competitive. The remaining $10.9 million of the Salary and Benefit increase was due to market and merit wage adjustments and one hundred four (104) FTE increase from 2013 to 2015 in the Corporation s operations to align with the changes in service patterns, new initiatives and revised staffing targets during this period. There was a $4.4 million increase in the self-funded 2015 health insurance expense due to a higher incidence of individually large claims, the high cost of newly-released specialty drugs and overall increased utilization of plan benefits that took place in The efficiency of the labor force within the Hospital as measured by FTE s per Adjusted Occupied Bed which remained stable between 2014 and 2015 but were increased from the 2013 level; the measurements were 4.25 in 2013, 4.38 in 2014 and 4.39 in Purchased Services, Supplies and Other Expenses (composed primarily of Purchased Services, Supplies and Professional Fees, each discussed separately below) increased $18.7 million from 2013 to 2015 (16.2%). Purchased services increased by $11.5 million from 2013 to 2015 mostly due to a $9.5 million increase in the LCMC management fees. Much of the management fee increase is associated with the LCMC system-wide engagement of the Huron Consulting Group for a strategic performance improvement review and change management implementations for the revenue cycle and other shared service models, including supply chain, human resources and talent management, information systems and information technology, resulting in programmed and monitored financial/resource consumption improvements to the functions impacted. The performance improvement consulting fees will not repeat after Supply expense increased $4.7 million from 2013 to Aside from an inflationary increase of approximately $1 million, the remainder of the increase is associated with the increases in service mix to many more costly and complicated procedures (e.g., spine cases generated $1.5 million in new implant expenses in 2015). In addition, $1.1 million of the increase in supply cost since 2013 is associated with the 340B retail pharmacy program implemented in late 2013 (see increase in related 340B revenues included in non-patient operating revenues described above). Professional Fees increased by $2.4 million from 2013 to 2015 for two primary reasons: 1) the 2014 implementation of on-call payments for specialty physicians to provide emergency room coverage, which has equated to approximately $1 million per year, and 2) a $1 million increase in consulting fees primarily related to a major system conversion. Depreciation expense increased by $2.0 million (11.5%) from 2013 to 2015 due to the continued strategic investment in the Corporation s plant, equipment and information technology. Interest expense decreased by $1.0 million (51.8%) from 2013 to 2015 due to the effective rate savings achieved with the restructuring of the outstanding Bond Debt and associated interest rate swap agreements ( Swaps ); additionally, there was an early redemption of approximately $6 million of outstanding bonds in April and May of Income From Operations was $77.1 million, $5.4 million, and $29.7 million in fiscal years 2013, 2014 and 2015, respectively. The income translates into operating margins of 22.1%, 1.9% and 8.9% in the same fiscal years, respectively. Non-Operating Gains/(Losses) were $1.1 million Loss in 2013, $2.2 million Gain in 2014 and $2.2 million Loss in Non-Operating Gains/(Losses) include Investment Income/(Losses), which include dividend and interest income and realized and unrealized gains/(losses) on securities and unrealized gains/(losses) on interest rate swap agreements ( Swaps ). Investment Income/(Losses) were $3.8 million, $3.2 million and $-0.4 million, in fiscal years 2013, 2014 and 2015, respectively. Unrealized Investment Gains/(Losses) on investments, excluding Swaps, account for $2.1 million, $-2.6 million and $-1.8 million of Investment Income/(Losses) for fiscal years 2013, 2014 and Unrealized market value changes on the Swaps were $-1.0 8

9 million, $1.4 million and $-0.3 million for fiscal years 2013, 2014 and 2015, respectively. In 2015 the Swaps also realized a $0.7 million gain due to early termination prompted by a restructuring of the underlying Bond debt. While the restructuring will produce a financial saving to the Corporation in the future, the GAAP accounting for the transaction resulted in the Hospital having to record a $1.1 million Loss on the Extinguishment of Debt primarily due to the write down of balance sheet issuance cost and discount that were being amortized annually over the life of the bonds outstanding. Increases in Unrestricted Net Assets Before Other Changes were $76.5 million, $9.3 million and $28.2 million in fiscal years 2013, 2014 and 2015, respectively. These gains translate into excess margins of 21.9%, 3.2% and 8.4% in fiscal years 2013, 2014 and 2015, respectively. The significant fluctuations are primarily due to the varying amounts of MSR that the Corporation received in those given years as discussed above. The Corporation s liquidity represented by cash and cash equivalents and board designated funds has declined from $123.7 million in 2013, or days cash on hand, to $78.6 million in 2015, or days cash on hand, representing a $45.1 million decline. As described in Note 7 to the audited financial statements, in 2015 the Corporation exchanged consideration of $44.1 million for a 49% interest in CCSC. Long-term debt capitalization decreased from 26.9% in 2013 to 21.1% in Long-term debt decreased from $70.5 million in 2013 to $60.3 million in 2015 as a result of routine principal payments on the outstanding debt, in addition to $6 million in early redemptions when the debt was restructured in early Unrestricted Net Assets have grown from $191.2 million in 2013 to $225.6 million in 2015, an increase of $34.4 million an 18% improvement. Employees The Corporation, including Touro, Woldenberg Village, LLC and Crescent City Physicians, Inc. has 2,267 employees (2,003 Total FTE s) with competitive compensation and benefit programs. Total Employees FTE s* December 31, ,212 1,898 December 31, ,394 1,987 December 31, ,267 2,003 *2013 and 2014 data has been restated to be consistent with industry standard calculations,to include total manhours paid (employed and nonemployed). Annual Hospital Turnover Rate Annual Hospital Vacancy Rate December 31, % 4.89% December 31, % 5.09% December 31, % 5.74% Source: Corporation s Human Resource Office 9

10 Reference is made to Note 9 to the audited financial statements for a description of the Corporation s employee retirement plans, including the Corporation s decision to freeze the defined benefit plan as of December 31, Other Louisiana Children s Medical Center ( LCMC ) Affiliation LCMC is a Louisiana non-stock, not-for-profit corporation that was incorporated in 2009, with its founding member being Children s Hospital (Children s). Through a Health Care System Agreement between LCMC, Children s, Touro Infirmary and its subsidiaries, and Cooperative Endeavor Agreements ( CEA ) with University Medical Center Management Corporation (UMCMC) and West Jefferson Holdings, LLC, these parties have determined that together they can provide a multi-hospital, not-for-profit community-based system that will provide a continuum of care to the families of the Gulf South region. LCMC functions as the System Parent with reserve powers to be exercised to promote the best interest of the System and its affiliates. In addition, effective April 1, 2014, LCMC and Touro entered into a CEA with the Parish Hospital Service District for the Parish of Orleans to manage the daily operations of a new 80 bed public hospital located in eastern New Orleans, which is known as the New Orleans East Hospital ( NOEH ). NOEH, which opened in July 2014, is a managed affiliate of the LCMC Health System. Reference is made to Notes 17 and 20 to the audited financial statements for descriptions of transactions with LCMC and Affiliates. 10

11 Exhibit A Audited Consolidated Financial Statements of the Corporation and its Affiliates 11

Trinitas Regional Medical Center Obligated Group Consolidated Balance Sheet At September 30, 2015 and December 31, 2014 (Unaudited)

Trinitas Regional Medical Center Obligated Group Consolidated Balance Sheet At September 30, 2015 and December 31, 2014 (Unaudited) Consolidated Balance Sheet At 3, 215 and December 31, 214 (Unaudited) Assets Current Assets: Cash and cash equivalents (includes certificates of deposit) Assets whose use is limited Patient accounts receivable

More information

ANNUAL REPORT REQUIRED UNDER MASTER CONTINUING DISCLOSURE AGREEMENT ADVOCATE HEALTH CARE NETWORK AND SUBSIDIARIES

ANNUAL REPORT REQUIRED UNDER MASTER CONTINUING DISCLOSURE AGREEMENT ADVOCATE HEALTH CARE NETWORK AND SUBSIDIARIES ANNUAL REPORT REQUIRED UNDER MASTER CONTINUING DISCLOSURE AGREEMENT ADVOCATE HEALTH CARE NETWORK AND SUBSIDIARIES For the Fiscal Year Ended December 31, 2014 1. Definitions. Capitalized terms used but

More information

Ascension Health Alliance

Ascension Health Alliance and Results of Operations The following information should be read with Ascension Health Alliance s audited consolidated financial statements and related notes to the consolidated financial statements.

More information

CONSOLIDATED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION. Northwest Community Healthcare and Subsidiaries Quarter Ended December 31, 2012

CONSOLIDATED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION. Northwest Community Healthcare and Subsidiaries Quarter Ended December 31, 2012 CONSOLIDATED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION Northwest Community Healthcare and Subsidiaries Quarter Ended December 31, 2012 UNAUDITED Northwest Community Healthcare and Subsidiaries

More information

CONTINUING DISCLOSURE REPORT. For the 12 Month Period Ended June 30, 2013

CONTINUING DISCLOSURE REPORT. For the 12 Month Period Ended June 30, 2013 CONTINUING DISCLOSURE REPORT Meritus Medical Center Obligated Group For the 12 Month Period Ended June 30, 2013 Name, Address and Telephone Number of Obligated Person: Meritus Medical Center Obligated

More information

Westchester Medical Center. 2012 Operating Budget

Westchester Medical Center. 2012 Operating Budget Westchester Medical Center 2012 Operating Budget December 7, 2011 WESTCHESTER COUNTY HEALTH CARE CORPORATION Overview Westchester Medical Center s (WMC) 2012 Operating Budget reflects significant reductions

More information

REVISED DISCLOSURE REPORT DATED MAY 27, 2016 THE NEW YORK AND PRESBYTERIAN HOSPITAL FOR THE QUARTER ENDED MARCH 31, 2016

REVISED DISCLOSURE REPORT DATED MAY 27, 2016 THE NEW YORK AND PRESBYTERIAN HOSPITAL FOR THE QUARTER ENDED MARCH 31, 2016 REVISED DISCLOSURE REPORT DATED MAY 27, 2016 THE NEW YORK AND PRESBYTERIAN HOSPITAL FOR THE QUARTER ENDED MARCH 31, 2016 This Disclosure Report is a revised version of the initial Disclosure Report for

More information

MANAGEMENT S DISCUSSION OF FINANCIAL PERFORMANCE. As of March 31, 2016

MANAGEMENT S DISCUSSION OF FINANCIAL PERFORMANCE. As of March 31, 2016 MANAGEMENT S DISCUSSION OF FINANCIAL PERFORMANCE As of March 31, 2016 Management s Discussion of Financial Performance Introduction The consolidated financial statement information and other data for the

More information

Children s Health Care d/b/a Children s Hospitals and Clinics of Minnesota

Children s Health Care d/b/a Children s Hospitals and Clinics of Minnesota Children s Health Care d/b/a Children s Hospitals and Clinics of Minnesota May 27, 2016 CHILDREN S HOSPITALS AND CLINICS OF MINNESOTA Admits by Pediatric Service Line 2015 Admits % of Total Anesthesiology

More information

MANAGEMENT S DISCUSSION CONDITION AND RESULTS OF OPERATIONS FOR ASCENSION AS OF AND FOR THE SEPTEMBER 30, 2014 AND 2013 AND ANALYSIS OF FINANCIAL

MANAGEMENT S DISCUSSION CONDITION AND RESULTS OF OPERATIONS FOR ASCENSION AS OF AND FOR THE SEPTEMBER 30, 2014 AND 2013 AND ANALYSIS OF FINANCIAL MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR ASCENSION AS OF AND FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014 AND 2013 The following information should be

More information

Reid Hospital and Health Care Services, Inc.

Reid Hospital and Health Care Services, Inc. Auditor s Report and Consolidated Financial Statements Contents Independent Auditor s Report on Consolidated Financial Statements and Other Information... 1 Consolidated Financial Statements Balance Sheets...

More information

Reid Hospital and Health Care Services, Inc.

Reid Hospital and Health Care Services, Inc. Auditor s Report and Consolidated Financial Statements Contents Independent Auditor s Report on Consolidated Financial Statements and Other Information... 1 Consolidated Financial Statements Balance Sheets...

More information

CONSOLIDATED FINANCIAL STATEMENTS AND OTHER INFORMATION INDIANA UNIVERSITY HEALTH, INC. AND SUBSIDIARIES AS OF JUNE 30, 2014 AND DECEMBER 31, 2013

CONSOLIDATED FINANCIAL STATEMENTS AND OTHER INFORMATION INDIANA UNIVERSITY HEALTH, INC. AND SUBSIDIARIES AS OF JUNE 30, 2014 AND DECEMBER 31, 2013 CONSOLIDATED FINANCIAL STATEMENTS AND OTHER INFORMATION INDIANA UNIVERSITY HEALTH, INC. AND SUBSIDIARIES AS OF JUNE 30, 2014 AND DECEMBER 31, 2013 AND FOR THE SIX MONTHS ENDED JUNE 30, 2014 AND 2013 TABLE

More information

F INANCIAL S TATEMENTS, R EQUIRED S UPPLEMENTARY I NFORMATION AND S UPPLEMENTARY I NFORMATION

F INANCIAL S TATEMENTS, R EQUIRED S UPPLEMENTARY I NFORMATION AND S UPPLEMENTARY I NFORMATION F INANCIAL S TATEMENTS, R EQUIRED S UPPLEMENTARY I NFORMATION AND S UPPLEMENTARY I NFORMATION South Broward Hospital District Years Ended April 30, 2013 and 2012 With Report of Independent Certified Public

More information

MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR ASCENSION

MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR ASCENSION MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR ASCENSION As of and for the nine months ended March 31, 2015 and 2014 The following information should be read

More information

Obligated Group Management Discussion and Analysis of Results For the Fiscal Year Ended June 30, 2012

Obligated Group Management Discussion and Analysis of Results For the Fiscal Year Ended June 30, 2012 Obligated Group Management Discussion and Analysis of Results For the Fiscal Year Ended June 30, 2012 Introduction Health, headquartered in, is an integrated health system with 17 hospitals and 67 clinics

More information

Southwestern Vermont Medical Center Operating Budget Fiscal Year 2016

Southwestern Vermont Medical Center Operating Budget Fiscal Year 2016 Southwestern Vermont Medical Center Operating Budget Fiscal Year 2016 Southwestern Vermont Medical Center s (hereafter SVMC or Medical Center ) Operating Budget for Fiscal Year (hereafter FY ) 2016 has

More information

Report of Independent Auditors and Consolidated Financial Statements. Kaweah Delta Health Care District

Report of Independent Auditors and Consolidated Financial Statements. Kaweah Delta Health Care District Report of Independent Auditors and Consolidated Financial Statements Kaweah Delta Health Care District June 30, 2014 and 2013 CONTENTS MANAGEMENT S DISCUSSION AND ANALYSIS 1 16 PAGE REPORT OF INDEPENDENT

More information

Additional information about the Corporation and its annual information form are available on SEDAR at www.sedar.com.

Additional information about the Corporation and its annual information form are available on SEDAR at www.sedar.com. MANAGEMENT S DISCUSSION AND ANALYSIS OF CONSOLIDATED FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE MONTHS AND YEAR ENDED DECEMBER 31, 2014 March 18, 2015 The following Management s Discussion

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event

More information

Aurora Health Care, Inc. and Affiliates. Unaudited Consolidated Financial Statements and Other Information For the Period Ended March 31, 2015

Aurora Health Care, Inc. and Affiliates. Unaudited Consolidated Financial Statements and Other Information For the Period Ended March 31, 2015 Aurora Health Care, Inc. and Affiliates Unaudited Consolidated Financial Statements and Other Information For the Period Ended March 31, 2015 AURORA HEALTH CARE, INC. AND AFFILIATES TABLE OF CONTENTS Page

More information

Westchester County Health Care Corporation Basic Financial Statements and Supplementary Schedules (With Management s Discussion and Analysis)

Westchester County Health Care Corporation Basic Financial Statements and Supplementary Schedules (With Management s Discussion and Analysis) Westchester County Health Care Corporation Basic Financial Statements and Supplementary Schedules (With Management s Discussion and Analysis) (With Report of Independent Certified Public Accountants) Table

More information

Mount Sinai Medical Center of Florida, Inc. and Subsidiaries

Mount Sinai Medical Center of Florida, Inc. and Subsidiaries Mount Sinai Medical Center of Florida, Inc. and Subsidiaries Consolidated Financial Statements as of and for the Years Ended December 31, 2011 and 2010, Supplemental Information for the Year Ended December

More information

Interim Unaudited Consolidated Financial Statements and Other Information

Interim Unaudited Consolidated Financial Statements and Other Information Interim Unaudited Consolidated Financial Statements and Other Information For The Period Ended March 31, 2015 The Cleveland Clinic Foundation d.b.a. Cleveland Clinic Health System INTERIM UNAUDITED CONSOLIDATED

More information

Shands Jacksonville HealthCare, Inc. and Subsidiaries Consolidated Basic Financial Statements, Required Supplementary Information and Supplemental

Shands Jacksonville HealthCare, Inc. and Subsidiaries Consolidated Basic Financial Statements, Required Supplementary Information and Supplemental Shands Jacksonville HealthCare, Inc. and Subsidiaries Consolidated Basic Financial Statements, Required Supplementary Information and Supplemental Consolidating Information Index Page(s) Management s Discussion

More information

Interim Unaudited Consolidated Financial Statements and Other Information

Interim Unaudited Consolidated Financial Statements and Other Information Interim Unaudited Consolidated Financial Statements and Other Information For The Period Ended September 30, 2014 The Cleveland Clinic Foundation d.b.a. Cleveland Clinic Health System INTERIM UNAUDITED

More information

BAPTIST HEALTH SOUTH FLORIDA, INC. AND AFFILIATES

BAPTIST HEALTH SOUTH FLORIDA, INC. AND AFFILIATES BAPTIST HEALTH SOUTH FLORIDA, INC. AND AFFILIATES Condensed Consolidated Financial Statements (Unaudited) as of June 30, 2014, and September 30, 2013, and the Interim Three- and Nine-Month Periods Ended

More information

Financial Report to the Board of Trustees

Financial Report to the Board of Trustees Financial Report to the Board of Trustees February 27, 2013 FY12 Closeout and FY13 Six Month Update Financial Report to the Board of Trustees February 27 2013 Table of Contents Page(s) University of Connecticut

More information

Porter Hospital Narrative FY 2014 Budget Submission

Porter Hospital Narrative FY 2014 Budget Submission Porter Hospital Narrative FY 2014 Budget Submission Summary: Porter Hospital s FY14 budget represents a continuation of the significant and positive financial turnaround commencing from January, 2013 and

More information

Westchester Medical Center. 2015 Operating Budget

Westchester Medical Center. 2015 Operating Budget Westchester Medical Center 2015 Operating Budget December 3, 2014 WESTCHESTER COUNTY HEALTH CARE CORPORATION Operating Budget 2015 Table of Contents Page Executive Summary 1 Detailed Discussion of Revenue

More information

EPISCOPAL CHURCH HOME & AFFILIATES LIFE CARE COMMUNITY, INC. d/b/a CANTERBURY WOODS

EPISCOPAL CHURCH HOME & AFFILIATES LIFE CARE COMMUNITY, INC. d/b/a CANTERBURY WOODS EPISCOPAL CHURCH HOME & AFFILIATES LIFE CARE COMMUNITY, INC. d/b/a CANTERBURY WOODS Financial Statements as of December 31, 2014 and 2013 Together with Independent Auditor s Report INDEPENDENT AUDITOR

More information

Quarterly Financial Reporting Information

Quarterly Financial Reporting Information For the Three Months Ended March 31, 2016 Sisters of Charity of Leavenworth Health System, Inc. Disclosure Information as of March 31, 2016 May 26, 2016 1 Table of Contents SCL Health History, Background

More information

St. Joseph s Hospital Health Center CUSIP Base #: 682832 Notice of Conference Call In connection with:

St. Joseph s Hospital Health Center CUSIP Base #: 682832 Notice of Conference Call In connection with: St. Joseph s Hospital Health Center CUSIP Base #: 682832 Notice of Conference Call In connection with: $142,745,000 Onondaga Civic Development Corporation TaxExempt Revenue Bonds (St. Joseph's Hospital

More information

Fairview Health Services Years Ended December 31, 2015, 2014, and 2013 With Report of Independent Auditors

Fairview Health Services Years Ended December 31, 2015, 2014, and 2013 With Report of Independent Auditors C ONSOLIDATED F INANCIAL S TATEMENTS Fairview Health Services Years Ended December 31, 2015, 2014, and 2013 With Report of Independent Auditors Ernst & Young LLP Consolidated Financial Statements Years

More information

Advocate Health Care Network and Subsidiaries FINANCIAL REPORT

Advocate Health Care Network and Subsidiaries FINANCIAL REPORT Advocate Health Care Network and Subsidiaries FINANCIAL REPORT For the Fourth Quarter and Year Ended December 31, 2014 Cautionary Statement Regarding Forward Looking Statements in this Quarterly Financial

More information

Meridian Hospitals Corporation and Meridian Nursing and Rehabilitation, Inc.

Meridian Hospitals Corporation and Meridian Nursing and Rehabilitation, Inc. Meridian Hospitals Corporation and Meridian Nursing and Combined Financial Statements and Combining Supplemental Schedules December 31, 2013 and 2012 Index December 31, 2013 and 2012 Page(s) Independent

More information

Select Medical Holdings Corporation Announces Results for Second Quarter Ended June 30, 2015

Select Medical Holdings Corporation Announces Results for Second Quarter Ended June 30, 2015 R E L E A S E FOR IMMEDIATE RELEASE 4714 Gettysburg Road Mechanicsburg, PA 17055 Select Medical Holdings Corporation Announces Results for Second Quarter Ended June 30, 2015 NYSE Symbol: SEM MECHANICSBURG,

More information

Naples Community Hospital, Inc. Financial Statements September 30, 2009 and 2008

Naples Community Hospital, Inc. Financial Statements September 30, 2009 and 2008 Naples Community Hospital, Inc. Financial Statements Index Page(s) Report of Independent Certified Public Accountants... 1 Financial Statements Balance Sheets... 2 3 Statements of Operations... 4 Statements

More information

NCH Healthcare System, Inc. and Subsidiaries. Consolidated Financial Statements September 30, 2014 and 2013

NCH Healthcare System, Inc. and Subsidiaries. Consolidated Financial Statements September 30, 2014 and 2013 NCH Healthcare System, Inc. and Subsidiaries Consolidated Financial Statements September 30, 2014 and 2013 Contents Independent Auditor s Report 1 2 Consolidated Financial Statements Consolidated balance

More information

FLOYD HEALTHCARE MANAGEMENT, INC. ROME, GEORGIA COMBINED FINANCIAL STATEMENTS. for the years ended June 30, 2013 and 2012

FLOYD HEALTHCARE MANAGEMENT, INC. ROME, GEORGIA COMBINED FINANCIAL STATEMENTS. for the years ended June 30, 2013 and 2012 ROME, GEORGIA COMBINED FINANCIAL STATEMENTS for the years ended June 30, 2013 and 2012 C O N T E N T S Independent Auditor s Report 1-2 Pages Financial Statements: Combined Balance Sheets 3-4 Combined

More information

NCH Healthcare System, Inc. and Subsidiaries. Consolidated Financial Statements September 30, 2015 and 2014

NCH Healthcare System, Inc. and Subsidiaries. Consolidated Financial Statements September 30, 2015 and 2014 NCH Healthcare System, Inc. and Subsidiaries Consolidated Financial Statements September 30, 2015 and 2014 Contents Independent Auditor s Report 1-2 Consolidated Financial Statements Consolidated balance

More information

Accounting for Health Care Organizations

Accounting for Health Care Organizations Chapter 17 Accounting for Health Care Organizations McGraw-Hill/Irwin Copyright 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives After studying Chapter 17, you should be

More information

1. I am the duly appointed President, Chief Financial Officer or Administrator of Borrower;

1. I am the duly appointed President, Chief Financial Officer or Administrator of Borrower; COVENANT COMPLIANCE CERTIFICATE For the period ending March 31, 2014 Pursuant to the Term Loan Agreement dated June 27, 2012 (the "Agreement") between SSM Health Care Corporation (the "Borrower") and Bank

More information

Conemaugh Health System, Inc. and Subsidiaries

Conemaugh Health System, Inc. and Subsidiaries Auditor s Report and Consolidated Financial Statements Contents Independent Auditor s Report... 1 Consolidated Financial Statements Balance Sheets... 3 Statements of Operations and Changes in Net Assets...

More information

WESTERN MARYLAND HEALTH SYSTEM CORPORATION. Consolidated Financial Statements and Supplementary Information. June 30, 2013 and 2012

WESTERN MARYLAND HEALTH SYSTEM CORPORATION. Consolidated Financial Statements and Supplementary Information. June 30, 2013 and 2012 Consolidated Financial Statements and Supplementary Information (With Independent Auditors Report thereon) Table of Contents Page(s) Independent Auditors Report 1 2 Consolidated Balance Sheets 3 Consolidated

More information

OZANAM HALL OF QUEENS NURSING HOME, INC. FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2015

OZANAM HALL OF QUEENS NURSING HOME, INC. FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2015 OZANAM HALL OF QUEENS NURSING HOME, INC. FINANCIAL STATEMENTS YEAR ENDED TABLE OF CONTENTS YEAR ENDED INDEPENDENT AUDITORS REPORT 1 FINANCIAL STATEMENTS STATEMENT OF FINANCIAL POSITION 3 STATEMENT OF ACTIVITIES

More information

Administrative Regulations POLICY STATUS: POLICY NUMBER: POLICY ADDRESS:

Administrative Regulations POLICY STATUS: POLICY NUMBER: POLICY ADDRESS: CATEGORY: POLICY STATUS: Administrative Regulations POLICY TITLE: POLICY NUMBER: POLICY ADDRESS: POLICY PURPOSE: APPLIES TO: SUB-SECTIONS: POLICY STATEMENT Debt Policy In support of its mission, the University

More information

Shands Teaching Hospital and Clinics, Inc. and Subsidiaries Consolidated Basic Financial Statements, Required Supplementary Information and

Shands Teaching Hospital and Clinics, Inc. and Subsidiaries Consolidated Basic Financial Statements, Required Supplementary Information and Shands Teaching Hospital and Clinics, Inc. and Subsidiaries Consolidated Basic Financial Statements, Required Supplementary Information and Supplemental Consolidating Information Index Page(s) Management's

More information

Connecticut Children s Medical Center and Subsidiaries Years Ended September 30, 2013 and 2012 With Report of Independent Auditors

Connecticut Children s Medical Center and Subsidiaries Years Ended September 30, 2013 and 2012 With Report of Independent Auditors A UDITED C ONSOLIDATED F INANCIAL S TATEMENTS AND S UPPLEMENTARY I NFORMATION Connecticut Children s Medical Center and Subsidiaries Years Ended September 30, 2013 and 2012 With Report of Independent Auditors

More information

Consolidated Balance Sheets

Consolidated Balance Sheets Consolidated Balance Sheets March 31 2015 2014 2015 Assets: Current assets Cash and cash equivalents 726,888 604,571 $ 6,057,400 Marketable securities 19,033 16,635 158,608 Notes and accounts receivable:

More information

B ASIC F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION

B ASIC F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION B ASIC F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION Kalkaska County Hospital Authority & Subsidiary Years Ended June 30, 2010 and 2009 With Reports of Independent Auditors Ernst & Young LLP

More information

Beebe Medical Center, Inc. Consolidated Financial Statements and Supplemental Schedules June 30, 2012 and 2011

Beebe Medical Center, Inc. Consolidated Financial Statements and Supplemental Schedules June 30, 2012 and 2011 Consolidated Financial Statements and Supplemental Schedules Index Page(s) Report of Independent Auditors... 1 Consolidated Financial Statements Consolidated Balance Sheets... 2 Consolidated Statements

More information

A UDITED C ONSOLIDATED F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION

A UDITED C ONSOLIDATED F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION A UDITED C ONSOLIDATED F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION Saint Francis Hospital and Medical Center and Subsidiaries Years Ended September 30, 2011 and 2010 With Report of Independent

More information

The University of Chicago Medical Center Financial Statements June 30, 2012 and 2011

The University of Chicago Medical Center Financial Statements June 30, 2012 and 2011 The University of Chicago Medical Center Financial Statements The University of Chicago Medical Center Index Page(s) Report of Independent Auditors...1 Financial Statements Balance Sheets... 2 Statements

More information

Westchester Medical Center. 2014 Operating Budget

Westchester Medical Center. 2014 Operating Budget Westchester Medical Center 2014 Operating Budget December 4, 2013 WESTCHESTER COUNTY HEALTH CARE CORPORATION Operating Budget 2014 Table of Contents Page Executive Summary 1 Detailed Discussion of Revenue

More information

Second Quarter Highlights

Second Quarter Highlights Kalamazoo, Michigan - July 23, 2015 - Stryker Corporation (NYSE:SYK) reported operating results for the second quarter of 2015: Second Quarter Highlights Raises full year organic sales growth guidance

More information

TIME WARNER CABLE INC. CONSOLIDATED BALANCE SHEET (Unaudited)

TIME WARNER CABLE INC. CONSOLIDATED BALANCE SHEET (Unaudited) CONSOLIDATED BALANCE SHEET June 30, December 31, 2011 2010 (in millions) ASSETS Current assets: Cash and equivalents...$ 3,510 $ 3,047 Receivables, less allowances of $86 million and $74 million as of

More information

Hartford HealthCare Corporation and Subsidiaries Years Ended September 30, 2013 and 2012 With Report of Independent Auditors

Hartford HealthCare Corporation and Subsidiaries Years Ended September 30, 2013 and 2012 With Report of Independent Auditors C ONSOLIDATED F INANCIAL S TATEMENTS AND SUPPLEMENTARY I NFORMATION Hartford HealthCare Corporation and Subsidiaries Years Ended September 30, 2013 and 2012 With Report of Independent Auditors Ernst &

More information

The University of Chicago Medical Center Financial Statements June 30, 2013 and 2012

The University of Chicago Medical Center Financial Statements June 30, 2013 and 2012 The University of Chicago Medical Center Financial Statements The University of Chicago Medical Center Index Page(s) Report of Independent Auditors...1 Financial Statements Balance Sheets... 2 Statements

More information

PUBLIC HEALTH TRUST OF MIAMI-DADE COUNTY, FLORIDA A Department of Miami-Dade County, Florida. September 30, 2014 and 2013

PUBLIC HEALTH TRUST OF MIAMI-DADE COUNTY, FLORIDA A Department of Miami-Dade County, Florida. September 30, 2014 and 2013 Financial Statements, Required Supplementary Information, and Schedules (With Independent Auditors Report Thereon) Table of Contents Independent Auditors Report 1 Management s Discussion and Analysis (Unaudited)

More information

ACE HARDWARE CORPORATION Quarterly report for the period ended June 29, 2013

ACE HARDWARE CORPORATION Quarterly report for the period ended June 29, 2013 Quarterly report for the period ended June 29, 2013 INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Page Independent Auditor s Review Report 2 Condensed Consolidated Balance

More information

PUBLIC HEALTH TRUST OF MIAMI-DADE COUNTY, FLORIDA A Department of Miami-Dade County. Financial Statements, Supplementary Information and Schedules

PUBLIC HEALTH TRUST OF MIAMI-DADE COUNTY, FLORIDA A Department of Miami-Dade County. Financial Statements, Supplementary Information and Schedules Financial Statements, Supplementary Information and Schedules (With Independent Auditor s Report Thereon) Table of Contents Page Independent Auditor s Report 1 Management s Discussion and Analysis (Unaudited)

More information

Aurora Health Care, Inc. and Affiliates. Unaudited Consolidated Financial Statements and Other Information For the Period Ended June 30, 2014

Aurora Health Care, Inc. and Affiliates. Unaudited Consolidated Financial Statements and Other Information For the Period Ended June 30, 2014 Aurora Health Care, Inc. and Affiliates Unaudited Consolidated Financial Statements and Other Information For the Period Ended June 30, 2014 AURORA HEALTH CARE, INC. AND AFFILIATES TABLE OF CONTENTS MANAGEMENT

More information

Arizona Administrative Code Title 9, Ch. 11 Department of Health Services Health Care Institution Facility Data

Arizona Administrative Code Title 9, Ch. 11 Department of Health Services Health Care Institution Facility Data TITLE 9. HEALTH SERVICES CHAPTER 11. DEPARTMENT OF HEALTH SERVICES HEALTH CARE INSTITUTION FACILITY DATA Editor s Note: The headings for Articles 3, 4, and 5 were amended or created as part of a Notice

More information

UNIVERSITY OF MARYLAND MEDICAL SYSTEM CORPORATION AND SUBSIDIARIES. Consolidated Financial Statements and Schedules. June 30, 2014 and 2013

UNIVERSITY OF MARYLAND MEDICAL SYSTEM CORPORATION AND SUBSIDIARIES. Consolidated Financial Statements and Schedules. June 30, 2014 and 2013 Consolidated Financial Statements and Schedules June 30, 2014 and 2013 (With Independent Auditors Report Thereon) Table of Contents Independent Auditors Report 1 Consolidated Financial Statements: Consolidated

More information

LEGACY HEALTH AND AFFILIATES. Consolidated Financial Statements and Other Financial Information. March 31, 2016 and 2015

LEGACY HEALTH AND AFFILIATES. Consolidated Financial Statements and Other Financial Information. March 31, 2016 and 2015 Consolidated Financial Statements and Other Financial Information (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report 1 Consolidated Financial Statements: Consolidated

More information

(A) Information needed to identify and classify the hospital, include the following: (b) The hospital number assigned by the department;

(A) Information needed to identify and classify the hospital, include the following: (b) The hospital number assigned by the department; 3701-59-05 Hospital registration and reporting requirements. Every hospital, public or private, shall, by the first of March of each year, register with and report to the department of health the following

More information

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts)

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts) CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts) Three months ended Nine months ended 2013 2012 2013 2012 sales $ 2,067 $ 2,038 $ 5,863 $ 5,866 Cost of sales 1,166 1,149

More information

Waste Management Announces Second Quarter Earnings

Waste Management Announces Second Quarter Earnings FOR IMMEDIATE RELEASE Waste Management Announces Second Quarter Earnings Collection and Disposal Income from Operations Grows 3.4% HOUSTON July 26, 2012 Waste Management, Inc. (NYSE: WM) today announced

More information

A UDITED C ONSOLIDATED F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION

A UDITED C ONSOLIDATED F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION A UDITED C ONSOLIDATED F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION Saint Francis Care, Inc. and Subsidiaries Years Ended September 30, 2010 and 2009 With Report of Independent Auditors Audited

More information

WAKE FOREST UNIVERSITY. Consolidated Financial Statements. June 30, 2014. (With Independent Auditors Report Thereon)

WAKE FOREST UNIVERSITY. Consolidated Financial Statements. June 30, 2014. (With Independent Auditors Report Thereon) Consolidated Financial Statements (With Independent Auditors Report Thereon) KPMG LLP Suite 400 300 North Greene Street Greensboro, NC 27401 Independent Auditors Report The Board of Trustees Wake Forest

More information

REHABILITATION HOSPITAL OF INDIANA, INC. CONSOLIDATED FINANCIAL STATEMENTS December 31, 2012 and 2011

REHABILITATION HOSPITAL OF INDIANA, INC. CONSOLIDATED FINANCIAL STATEMENTS December 31, 2012 and 2011 REHABILITATION HOSPITAL OF INDIANA, INC. CONSOLIDATED FINANCIAL STATEMENTS Indianapolis, Indiana CONSOLIDATED FINANCIAL STATEMENTS CONTENTS INDEPENDENT AUDITOR'S REPORT... 1 CONSOLIDATED FINANCIAL STATEMENTS

More information

A UDITED C ONSOLIDATED F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION

A UDITED C ONSOLIDATED F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION A UDITED C ONSOLIDATED F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION Saint Francis Care, Inc. and Subsidiaries Years Ended September 30, 2011 and 2010 With Report of Independent Auditors Ernst

More information

IDENTIFYING INFORMATION SOURCES: FORM HCFA 2552-92, WORKSHEET S-2, AND HCFA RECORDS FIELD FIELD NAME DESCRIPTION LINE(S) COL(S) SIZE USAGE LOCATION

IDENTIFYING INFORMATION SOURCES: FORM HCFA 2552-92, WORKSHEET S-2, AND HCFA RECORDS FIELD FIELD NAME DESCRIPTION LINE(S) COL(S) SIZE USAGE LOCATION Minimum Data Set 08/22/96 IDENTIFYING INFORMATION SOURCES: FORM HCFA 2552-92, WORKSHEET S-2, AND HCFA RECORDS F 1 Provider Number - Hospital 2 2 6 X 1-6 F 2 Provider Number - Subprovider 3 2 6 X 7-12 F

More information

Notes to the Consolidated Financial Statements for the 92nd Fiscal Term. Notes to the Non-Consolidated Financial Statements for the 92nd Fiscal Term

Notes to the Consolidated Financial Statements for the 92nd Fiscal Term. Notes to the Non-Consolidated Financial Statements for the 92nd Fiscal Term To Those Shareholders with Voting Rights Notes to the Consolidated Financial Statements for the 92nd Fiscal Term Notes to the Non-Consolidated Financial Statements for the 92nd Fiscal Term The above documents

More information

SUPPLEMENTAL INVESTOR INFORMATION. Fourth Quarter 2012

SUPPLEMENTAL INVESTOR INFORMATION. Fourth Quarter 2012 SUPPLEMENTAL INVESTOR INFORMATION Fourth Quarter 2012 Kevin Bryant Tony Carreño VP Investor Relations and Strategic Director Investor Relations Planning & Treasurer 816-556-2782 816-654-1763 anthony.carreno@kcpl.com

More information

PUBLIC HEALTH TRUST OF MIAMI-DADE COUNTY, FLORIDA A Department of Miami-Dade County, Florida. September 30, 2015

PUBLIC HEALTH TRUST OF MIAMI-DADE COUNTY, FLORIDA A Department of Miami-Dade County, Florida. September 30, 2015 Financial Statements, Required Supplementary Information, and Schedules (With Independent Auditors Report Thereon) Table of Contents Independent Auditors Report 1 Management s Discussion and Analysis (Unaudited)

More information

KAISER FOUNDATION HEALTH PLAN, INC. AND SUBSIDIARIES AND KAISER FOUNDATION HOSPITALS AND SUBSIDIARIES. Combined Financial Statements.

KAISER FOUNDATION HEALTH PLAN, INC. AND SUBSIDIARIES AND KAISER FOUNDATION HOSPITALS AND SUBSIDIARIES. Combined Financial Statements. Combined Financial Statements (Unaudited) Table of Contents Financial Statements (Unaudited): Kaiser Foundation Health Plan, Inc. and Subsidiaries and Kaiser Foundation Hospitals and Subsidiaries: Combined

More information

Novant Health, Inc. and Affiliates Consolidated Financial Statements December 31, 2013 and 2012

Novant Health, Inc. and Affiliates Consolidated Financial Statements December 31, 2013 and 2012 Novant Health, Inc. and Affiliates Consolidated Financial Statements Index Page(s) Report of Independent Auditors Consolidated Financial Statements Balance Sheets... 1 Statements of Operations and Changes

More information

The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a

The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a private CPA firm. The document was placed on this web

More information

MARCUS DALY MEMORIAL HOSPITAL CORPORATION FINANCIAL STATEMENTS YEARS ENDED JUNE 30, 2012 AND 2011

MARCUS DALY MEMORIAL HOSPITAL CORPORATION FINANCIAL STATEMENTS YEARS ENDED JUNE 30, 2012 AND 2011 FINANCIAL STATEMENTS YEARS ENDED TABLE OF CONTENTS YEARS ENDED INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS BALANCE SHEETS 2 STATEMENTS OF OPERATIONS 4 STATEMENTS OF CHANGES IN NET ASSETS 5 STATEMENTS

More information

ACER INCORPORATED AND SUBSIDIARIES. Consolidated Balance Sheets

ACER INCORPORATED AND SUBSIDIARIES. Consolidated Balance Sheets Consolidated Balance Sheets June 30, 2015, December 31, 2014, and (June 30, 2015 and 2014 are reviewed, not audited) Assets 2015.6.30 2014.12.31 2014.6.30 Current assets: Cash and cash equivalents $ 36,400,657

More information

Almost Family Reports First Quarter 2016 Results

Almost Family Reports First Quarter 2016 Results Exhibit 99.1 Almost Family, Inc. Steve Guenthner (502) 891-1000 FOR IMMEDIATE RELEASE Almost Family Reports First Quarter 2016 Results Louisville, KY, Almost Family, Inc. (Nasdaq: AFAM), a leading regional

More information

The Depository Trust Company

The Depository Trust Company The Depository Trust Company Unaudited Condensed Consolidated Financial Statements as of March 31, 2016 and December 31, 2015 and for the three months ended March 31, 2016 and 2015 THE DEPOSITORY TRUST

More information

SUMITOMO DENSETSU CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements

SUMITOMO DENSETSU CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements SUMITOMO DENSETSU CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements Report of Independent Public Accountants To the Board of Directors of Sumitomo Densetsu Co., Ltd. : We have audited the consolidated

More information

Elliot Health System and Affiliates

Elliot Health System and Affiliates BAKER I NEWMAN! NOYES blic ntants Elliot Health System and Affiliates Audited Consolidated Financial Statements and Other Financial Information Years Ended With Independent Auditors' Report INTEGRITY S

More information

DUKE UNIVERSITY HEALTH SYSTEM, INC. AND AFFILIATES. Consolidated Financial Statements. June 30, 2013 and 2012

DUKE UNIVERSITY HEALTH SYSTEM, INC. AND AFFILIATES. Consolidated Financial Statements. June 30, 2013 and 2012 Consolidated Financial Statements (With Independent Auditors Report Thereon) Table of Contents Page(s) Independent Auditors Report 1 2 Consolidated Balance Sheets 3 Consolidated Statements of Operations

More information

Case Western Reserve University Consolidated Financial Statements for the Year Ending June 30, 2001

Case Western Reserve University Consolidated Financial Statements for the Year Ending June 30, 2001 Contents Report of Independent Accountants 1 Part 1 Consolidated Financial Statements Consolidated Balance Sheet 2 Consolidated Statement of Activities 3 Consolidated Statement of Cash Flows 4 Part 2 Summary

More information

ROGER WILLIAMS MEDICAL CENTER, INC. AND AFFILIATES. Consolidated Financial Statements and Supplementary Consolidating Information

ROGER WILLIAMS MEDICAL CENTER, INC. AND AFFILIATES. Consolidated Financial Statements and Supplementary Consolidating Information Consolidated Financial Statements and Supplementary Consolidating Information (With Independent Auditors Report Thereon) Table of Contents Page(s) Independent Auditors Report 1 Financial Statements: Consolidated

More information

ProMedica Health System and Subsidiaries

ProMedica Health System and Subsidiaries ProMedica Health System and Subsidiaries Consolidated Financial Statements as of and for the Years Ended December 31, 2015 and 2014, Supplemental Consolidating Schedules as of and for the Year Ended December

More information

Sistema Infantil Teleton USA, dba Children s Rehabilitation Institute of Teleton USA and Subsidiary

Sistema Infantil Teleton USA, dba Children s Rehabilitation Institute of Teleton USA and Subsidiary Sistema Infantil Teleton USA, dba Children s Rehabilitation Institute of Teleton USA and Subsidiary Consolidated Financial Statements and Supplementary Information December 31, 2015 and 2014 Institute

More information

University of Kentucky

University of Kentucky University of Kentucky Debt Policy Purpose To fulfill its mission, the University of Kentucky must make ongoing strategic capital investments in academic, student life, healthcare, and other plant facilities

More information

PART III. Consolidated Financial Statements of Hitachi, Ltd. and Subsidiaries: Independent Auditors Report 47

PART III. Consolidated Financial Statements of Hitachi, Ltd. and Subsidiaries: Independent Auditors Report 47 PART III Item 17. Financial Statements Consolidated Financial Statements of Hitachi, Ltd. and Subsidiaries: Schedule: Page Number Independent Auditors Report 47 Consolidated Balance Sheets as of March

More information

STATE OF INDIANA. April 30, 2013. Board of Directors Sullivan County Community Hospital 2200 N. Section Street Sullivan, IN 47882

STATE OF INDIANA. April 30, 2013. Board of Directors Sullivan County Community Hospital 2200 N. Section Street Sullivan, IN 47882 STATE OF INDIANA AN EQUAL OPPORTUNITY EMPLOYER STATE BOARD OF ACCOUNTS 302 WEST WASHINGTON STREET ROOM E418 INDIANAPOLIS, INDIANA 46204-2765 Telephone: (317) 232-2513 Fax: (317) 232-4711 Web Site: www.in.gov/sboa

More information

C ONSOLIDATED F INANCIAL S TATEMENTS

C ONSOLIDATED F INANCIAL S TATEMENTS C ONSOLIDATED F INANCIAL S TATEMENTS AND O THER F INANCIAL I NFORMATION Bridgeport Hospital & Healthcare Services, Inc. and Subsidiaries Years Ended September 30, 2011 and 2010 with Report of Independent

More information

United Cerebral Palsy, Inc. Financial Report September 30, 2013

United Cerebral Palsy, Inc. Financial Report September 30, 2013 Financial Report September 30, 2013 Contents Independent Auditor s Report 1 2 Financial Statements Statement Of Financial Position 3 Statement Of Activities 4 Statement Of Functional Expenses 5 Statement

More information

ACTION ITEM EXECUTIVE SUMMARY

ACTION ITEM EXECUTIVE SUMMARY F6 Office of the President TO THE MEMBERS OF THE COMMITTEE OF FINANCE: For Meeting of ACTION ITEM AUTHORIZATION TO RETIRE AND REFUND EXISTING TAX-EXEMPT DEBT OBLIGATIONS FOR THE CHILDREN S HOSPITAL OF

More information

OHIO WESLEYAN UNIVERSITY AND SUBSIDIARIES CONSOLIDATED FINANCIAL REPORT. JUNE 30, 2015 and 2014

OHIO WESLEYAN UNIVERSITY AND SUBSIDIARIES CONSOLIDATED FINANCIAL REPORT. JUNE 30, 2015 and 2014 OHIO WESLEYAN UNIVERSITY AND SUBSIDIARIES CONSOLIDATED FINANCIAL REPORT JUNE 30, 2015 and 2014 CONTENTS INDEPENDENT AUDITORS' REPORT ON THE FINANCIAL STATEMENTS 1-2 FINANCIAL STATEMENTS Consolidated statements

More information

Shore Memorial Hospital

Shore Memorial Hospital 2010 Financings Shore Memorial Hospital Series 2010 - $15,000,000 Shore Memorial Hospital, located in Somers Point, New Jersey, is a not-for-profit, 296 licensed bed facility with 1,600 employees and more

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period

More information