HomeMy WebLinkAbout660225.tiffWELD COUNTY GENERAL HOSPITAL
FINANCIAL STATEMENTS
June 30, 1966
Prepared From Records Without Audit
ROBERT R. ANDERSON Si COMPANY
CERTIFIED PURI. IC ACCCLNrANTs
GREELEYS BOULDER, COLORADO
WELD COUNTY GENERAL HOSPITAL
FINANCIAL STATEMENTS
June 30, 1966
Prepared From Records Without Audit
ROBERT R. ANDERSON S COMPANY
CERTIFIED PUBLIC ACCOUNTANTS
8TH & 8TH BUILDING
GREELEY, COLORADO
To the Board of Trustees
Weld County General Hospital
In accordance with your request, we have prepared from the
records of Weld County General Hospital unaudited financial statements
as follows:
Exhibit A --Balance Sheet
June 30, 1966 and 1965
Exhibits B-1 and B -2 --Summary of Changes in Fund Balances
For the Six Months Ended June 30, 1966
Exhibit C --Summary of Changes in Investment in Plant
For the Six Months Ended June 30, 1966
Schedule 1 --Statement of Income --Operating
For the Six Months Ended June 30, 1966 and 1965
Schedule 2 --Statement of Expenses --Operating
For the Six Months Ended June 30, 1966 and 1965
Schedule 3 --Statement of Income --Mead Hall Nurses'
Residence
For the Six Months Ended June 30, 1966
Schedule 4 --Statement of Income --Interns' Residences
For the Six Months Ended June 30, 1966
The accompanying financial statements were not audited. There-
fore, we do not express an independent accountants' opinion as to the
fairness with which the statements present financial position or results
of operations for the six months ended June 30, 1966.
ROBERT R. ANDERSON & COMPANY
September 16, 1966
FINANCIAL STATEMENTS
WELD COUNTY GENERAL HOSPITAL
Balance Sheet
June 30, 1966 and December 31, 1965
Prepared From Records Without Audit
ASSETS
1. OPERATING FUNDS
Cash on hand, deposit in transit and in checking
accounts
Cash on deposit with county treasurer
Accounts receivable (less allowance for doubtful
accounts, $ 97,605 and $73,524)
Inventories
Drugs
General stores
Total operating funds
2. EDUCATIONAL TRUST FUND (NOTE 1)
Cash
Notes receivable and investments
Total educational trust fund
3. PLANT FUND
A. Restricted funds
On deposit with county treasurer
Cash and taxes receivable public works fund --
resolution of 1963 (NOTE 2)
Cash --funded depreciation, donations and Mead
Hall income (NOTE 3)
Investments --Mead Hall income
Due from operating fund
Total restricted funds
B. Investment in plant --Exhibit C
Land, building, furnishings and equipment --
operating plant, less depreciation $1,116,185
and $1,059,588,
Mead Hall nurses' residence
Interns' residences (NOTE 4)
Total investment in plant
Total plant fund
See notes to financial statements.
June 30, December 31,
1966 1965
$ 307,533 $ 229,945
108,289 75,396
628,642 578,182
40,283 35,229
92,201 84,355
$1,176,948 $1,003,107
$ 333 $ 11,508
22,947 11,338
$ 23,280 $ 22,846
$ 63,460 $ 18,185
35,431 139,469
10,000 10,000
46,606 41,175
155,497 208,829
4,337,947 4,273,294
264,988 264,671
142,181 141,163
4,745,116 4,679,128
$4,900,613 $4,887,957
Exhibit A
LIABILITIES AND CAPITAL June 30,
1966
1. OPERATING FUNDS
Accounts payable
Trade
X-ray special fund
Due to plant fund
Taxes payable
Accrued salaries and wages
Operating fund balance
Total operating funds
2. EDUCATIONAL TRUST FUND
Educational trust fund balance
Total educational trust fund
3. PLANT FUND
A. Restricted funds
Restricted funds balance
Total restricted funds
B. Investment in plant
Note payable --secured (NOTE 4)
Investment in plant fund balance
December 31,
1965
$ 83,836 $ 88,218
825 890
46,606 41,175
39,471 35,216
149,970 148,505
856,240 689,103
$1,176,948 $1,003,107
$ 23,280 $ 22,846
$ 23,280 $ 22,846
$ 155,497 $ 208,829
155,497 208,829
103,555
4,641,561
120,918
4,558,210
Total investment in plant 4,745,116 4,679,128
Total plant fund $ 4,900,613 $4,887,957
WELD COUNTY GENERAL HOSPITAL
Summary of Changes in Fund Balances
For the Six Months Ended June 30, 1966
Prepared From Records Without Audit
OPERATING FUND
Balance --beginning of period
Additions
Current net income
Depreciation --not funded
Total additions
Total
Deductions
Elimination of December charges
for Drs. Weaver and Kidder
Balance --end of period
EDUCATIONAL TRUST FUND
Balance --beginning of period
Add investment income
Balance --end of period
$162,964
17,052
$689,103
180,016
869,119
12,879
$856,240
$ 22,846
434
$ 23,280
Exhibit B-1
WELD COUNTY GENERAL HOSPITAL
Summary of Changes in Plant Fund Balances
For the Six Months Ended June 30, 1966
Prepared From Records Without Audit
Hospital Funded
Addition depreciation
Fund etc. Investments
RESTRICED FUNDS
Balance --beginning of period
Additions
Current tax revenues
Donations received
Current depreciation funded
Current income --Mead Hall
Payment from depreciation fund for assets
purchased in 1965
Book value of assets traded
Trade-in allowances
Advanced by Operating Fund
Total additions
Total
Deductions
Current loss --interns° residences
Investment in plant
Assets purchased
Reduction of mortgage payable
Paid to Operating Fund for assets purchased
in 1965
Due from depreciation fund for assets
purchased
Trade-in allowances
Total deductions
$ 18,185 $139,469 $ 10,000
45,275
45,275
63,460
676
42,000
175
573
4,707
48,131
187,600
133,751
17,363
1,055
152,169
10,000
Balance --end of period $ 63,460 $ 35,431 $ 10,000
INVESTMENT IN PLANT
Balance --beginning of period
Add --expended from restricted funds
Total
Deductions
Depreciation taken
Asset stolen
Total deductions
Public Other
funds funds
$3,819,512 $738,698
150,825
3,819,512 889,523
67,452
Total
$4,558,210
150,825
4,709,035
67,452 _
21 21
67,473 67,473
Balance --end of period $3,819,512 $822,050 $4,641,562
Exhibit B-2
Due from
Operating
Fund Total
$41,175 $208,829
8,400
2,529
45,275
676
50,400
2,704
1,055 1,055
289 289
573
4,707
_ 12,273 105,679
53,448 314,508
1,562 1,562
133,751
17,363
1,055
4,707 4,707
573 573
6,842 159,011
$46,606 $155,497
OPERATING PLANT
Land
Land improvements
Buildings
Major moveable equipment
Minor equipment
Construction in progress
Buildings
Major moveable equipment
Minor equipment
WELD COUNTY GENERAL HOSPITAL
Summary of Changes in Investment in Plant
For the Six Months Ended June 30, 1966
Prepared From Records Without Audit
Balance Retirements Balance
January 1, and June 30,
1966 Additions transfers 1966
$ 64,873 $ 64,873
91,340 91,340
4,525,382 $ 317 4,525,699
431,700 7,608 $11,144 428,164
90,529 90,529
129,058 11,322 140,380
112,777 112,777
371 371
Total $5,332,882 $132,395 $11,144 $5,454,133
MEAD HALL NURSES' RESIDENCE
Building
Major moveable equipment
Minor equipment
Total
INTERNS' RESIDENCES
Land
Land improvements
Buildings
Major moveable equipment
$ 238,049
22,912 $ 317
3,710
$ 264,671 $ 317 $
$ 16,500
5,500
106,600 $ 954
12,563 85
Total $ 141,163 $ 1,039
ACCUMULATED DEPRECIATION --
OPERATING PLANT
Land improvements
Buildings
Major moveable
$ 238,049
23,229
3,710
$ 264,988
$ 16,500
5,500
107,554
21 12,627
21 $ 142,181
$ 16,088 $ 913
855,693 45,256
187,807 21,283 $10,855
$ 17,001
900,949
198,235
Total $1,059,588 $ 67,452 $10,855 $1,116,185
Exhibit C
WELD COUNTY GENERAL HOSPITAL
Statment of Income --Operating
For the Six Months Ended June 30, 1966 and 1965
Prepared From Records Without Audit
1966 1965
Amount Percent Amount Percent
INCOME
Room and board
Operating and emergency rooms
Recovery room
Delivery room
Intensive care
X-ray
Laboratory
Physical therapy
Pharmacy
Anesthesia
Blood bank and blood bank service
Inhalation therapy and medical
supplies
Telephone
Laundry
Cafeteria and snack bar
Total
Less special allowances
Total operating income
EXPENSES --Schedule 2
— NET INCOME (LOSS) FROM OPERATIONS
OTHER INCOME
Discounts on purchases
Miscellaneous
Total other income
NET INCOME
$ 845,278 50.09 $ 671,707 42.78
110,270 6.54 116,893 7.44
15,285 .91 16,218 1.03
12,225 .72 14,303 .91
5,750 .34 8,662 .55
152,975 9.06 145,388 9.26
232,332 13.77 245,995 15.68
16,401 .97 14,831 .94
162,583 9.63 182,622 11.63
18,535 1.10 19,828 1.26
22,065 1.31 22,007 1.40
99,741 5.91 117,246 7.47
1,748 .10 1,742 .11
12,950 .77 14,103 .90
23,464 1.39 28,397 1.81
1,731,602 102.61 1,619,942 103,17
43,992 2,61 49,829 3.17
1,687,610 100.00 1,570,113 100.00
1,542,047 91.37 1,578,395 100.53
145,563 8.63 ( 8,282) ( .53)
3,313 .20 3,619 .23
14,089 .83 11,789 .75
17,402 1.03 15,408 .98
$ 162,965 9.66 $ 7,126 .45
Schedule 1
WELD COUNTY GENERAL HOSPITAL
Statement of Expenses --Operating
For the Six Months Ended June 30, 1966 and 1965
Prepared From Records Without Audit
1966
Salaries
and
contract Other
service expenses Total Percent
ALLOCATED EXPENSES
Administrative
Dietary
Laundry
Housekeeping
Plant operations
Building and land maintenance
Motor service
Central supply and oxygen inhalation
Nursing
Intern and medical education
X-ray
Laboratory
Operating room
Delivery room
Pharmacy
Physical therapy
Blood bank
$ 92,538 $ 22,579 $ 115,117 6.82
86,262 75,139 161,401 9.56
29,846 2,831 32,677 1.94
36,750 7,291 44,041 2.61
10,644 30,855 41,499 2.46
21,729 7,660 29,389 1.74
167 167 .01
13,475 27,932 41,407 2.45
446,766 29,706 476,472 28.23
6,095 740 6,835 .41
58,302 25,219 83,521 4.95
106,379 33,206 139,585 8.27
46,351 39,559 85,910 5.09
8,392 2,245 10,637 .63
12,767 54,195 66,962 3.97
7,368 145 7,513 .45
3,431 10,062 13,493 .80
Total allocated expenses $987,095 $369,531 1,356,626 80.39
UNALLOCATED EXPENSES
Insurance
Employee welfare
Bad debt and collection expense
Depreciation --funded
Depreciation --not funded
Social security
Telephone
Miscellaneous
Total unallocated expenses
2,549 .15
15,508 .92
54,906 3.25
50,400 2.99
17,052 1.01
37,021 2.19
7,916 .47
69
185,421 10.98
Total expenses $1,542,047 91.37
Schedule 2
1965
Other
Salaries expenses Total Percent
$ 93,119 $ 25,992 $ 119,111 7.59
90,060 80,386 170,446 10.86
28,523 4,314 32,837 2.09
34,177 9,281 43,458 2.77
10,530 26,947 37,477 2.39
21,713 8,726 30,439 1.94
281 281 .02
12,545 34,108 46,653 2.97
445,267 40,660 485,927 30.95
6,705 4,301 11,006 .70
56,054 24,094 80,148 5.10
109,901 33,049 142,950 9.10
46,642 42,606 89,248 5.68
9,333 4,176 13,509 .86
13,172 64,933 78,105 4.97
7,658 438 8,096 .52
3,361 10,854 14,215 .91
$988,760 $415,146 1,403,906 89.42
7,730 .49
19,927 1.26
38,720 2.47
50,400 3.21
17,611 1.12
31,534 2.01
8,432 .54
135 .01
174,489 11.11
$1,578,395 100.53
WELD COUNTY GENERAL HOSPITAL
Mead Hall Nurses' Residence
Statement of Income
For the Six Months Ended June 30, 1966
Prepared From Records Without Audit
INCOME FROM RENTALS $ 6,529
EXPENSES
Utilities
Laundry
Housekeeping
Telephone
Maintenance
Supplies
Insurance
Total expenses
NET INCOME FROM OPERATIONS
OTHER INCOME
Miscellaneous
Interest
Total other income
931
234
240
153
772
1,365
343
4,038
2,491
38
175
213
NET INCOME $2,704
Schedule 3
WELD COUNTY GENERAL HOSPITAL
Interns° Residences --Reese Property
Statement of Income
For the Six Months Ended June 30, 1966
Prepared From Records Without Audit
INCOME FROM RENTALS $ 6,033
EXPENSES
Utilities
Maintenance
Supplies
Insurance
Interest
Total expenses
1,315
904
1,922
229
3,225
7,595
NET INCOME (LOSS) FROM OPERATIONS ($1,562)
Schedule 4
WELD COUNTY GENERAL HOSPITAL
Notes to Financial Statements
NOTE 1 --Information received from the First National Bank indicates that this fund
is controlled by the trust department of the bank and is not subject to
withdrawal by the hospital.
NOTE 2 --This fund is derived from a tax of .25 mills, levied for 1964, 1965, 1966
and 1967, and is restricted to defraying the cost of finishing and equipping
the fifth floor of the hospital. Sixty-nine thousand one hundred forty-seven
dollars and fifty cents of tax revenues have been expended for this purpose.
This amount is included in work in progress under investment in plant.
On June 30, 1966, the hospital was obligated for $106,104.22 under existing
contracts. This amount is not reflected in these statements. The obligation
will be paid from the existing fund balance and from 1967 tax revenues.
NOTE 3 --The hospital is committed under an existing contract for $ 5,313.00 for
alterations to the radiology department. This amount is not reflected in
these statements.
NOTE 4 --Note payable --secured
The interns' residences are subject to a deed of trust securing the note
payable in the amount of $ 103, 555.39.
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