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Home My WebLink About640165.tiffBROUGH AND FULLER CERTIFIED PUBLIC ACCOUNTANTS GREELEY, COLORADO WELD COUNTY GENERAL HOSPITAL, Greeley. Colorado FINANCIAL. STATEMENTS (Unaudited) June 30. 1964 #5©OO7 6 yoi Ls' WELL) COUNTY GENERAL HOSPITAL Creele.yyColorado FINANCIAL SL_ATEMENTS LUnaud ted Tule 1464 1 L TaUleof Contents Text All Funds Exhibit A -- Comparative Balance Sheet (Unaudited; June 30, L964 and December 31, 1963 4 Plant_ F Lind Exhibit E3 - Comparative Balance Sheets (Unaudited) June 30, 1964 and December 31, 1963 Schedule 1 - Statement of Changes in Fixed Assets (Unaudited) for the Six Months Ended June 30, 1964 Schedule L - Statement of Changes in Assets Restricted to Replacement and .Improvement of Plant (Unaudited) for the Six Months _Ended June 30, 1964 C)geratine,.,Ft�r',ti Schedule 3 - Comparative Statement of Operations (Unaudited) for the Six Months Ended June 30, 1964 and December 31, 1963 Schedule 4 -- Comparative Statement of Operating Revenues (Unaudited) for the Six Months Ended June 30, 1964 and December 31, 1963 Schedule 5 - Comparative Statement of Salaries ( Unaudited) for the Six Months Ended June 30, 1964 and December 31, 1963 Schedule 6 - Comparative Statement of Supplies and Other Expenses (Unaudited) for the Six Months Ended June 30, 1964 and December 31, 1964 Vlead Mall Nurses' Residence Fund Schedule 7 - Comparative Statement of Operations (Unaudited) for the Six Months Ended June 30, 1964 and December 31, 1963 Interns' Residence Fund Schedule 8 - Comparative Statement of Operations (Unaudited) for the Six Months Ended June 30, 1964 and December 31, 1963 7f'a�e I-•3 11 1L September 21, 1964 The Honorable Board of Trustees Weld County General Hospital Greeley, Colorado Gentlemen: We have prepared the financial statements of the Weld County General Hospital as of June 30, 1964 as shown in the Table of Con -- tents. We have not made a complete examination at this time and for that reason are not expressing an opinion with this report. Financial Position As of June 30, 1964 the assets of the Operating Fund totaled $1, 063, 164. 13, while liabilities to other funds and creditors totaled $307, 061. i 1, about a 3.5 to 1 ratio compared with 3. 2 to 1 as of Dec- ember 31, 1963. Accounts Receivable - Net increased by $89, 315.41 durimj the first six months of 1964 to $585,149.56. The allowance for doubtful accounts was reduced by $23,545.94 and the accounts receivable in- creased by $65,769.47 to account for the net increase. The balance of the Operating Fund (working capital) indicates an increase of $139,230.60 was realized in the first six months of the year. This is the net income for the period of $123, 457, 11 and $15,773.49 of depreciation taken but not transferred to the Plant Feud during the first six months of 1964. lvl atU4U1 sses' Resid&nc& Fund The increase in the fund balance of $1,574,97 is shown in detail on Schedule 7, page 12. The amount due from the Operation Fund increased by $2, Z49, 97 during the first six rnrnGths; of 1964. Ectucat vonIzu Fund Assets of the Educational Trust Fund increased by $315,05, the amount of interest earned on Investments' in a mortgage and savings. Three additional loans in the amount of $500.00 each were made during the six months period, ag�t Fund The Plant Fund Capital balance increased by $18, 040. 95 during the first six months of 1964, The increase was due to the following, Current Tax Levy 32., 062. 60 Prior Year faxes 60.17 Donations 1, 486. 93 Operating Profit - Interns Residence -- Schedule 8 ,404, 74 Sub 33, 814,44 Deduct: Non -Funding of Depr- eciation taken by the Operating Fund (15, 773. 4J Net Increase 18, 040, 95 The Interns' Residence property has been included in the Plant Fund as shown on Exhibit B. Operations Operating Revenues (Schedule 4) totaled $1, 650, 374,39, an in- crease of $282, 389, 17 over the last six months of 1963, or about 20,6%, The revenue increase resulted from increasing the rates to patients and also increasing the occupancy rate from 67.38% to +7.66%. All income areas increased with the exception of the Delivery room, Miscellaneous Income, and the Snack Bar which was converted to d. vending machine operation in June, and thus would reflect a net rather than a gross income after the installation date. Day rate se r vice accounted for 57.7% of the revenue increase over the previous six months period. Operating Expenses (Schedule 3) totaled $1, 460, 734, P6, an crease of $110,501.80 over the previous period or about 8, 14%, Ibi increase of expenditures was due primarily to the increased use of the hospital facilities as shown by the increased occupancy rate above. The net income for the period was $ 123, 45'7, 11, as compared to a net loss in the preceding period of $39, 732, 18, the following summary compares to operating results in terms of rate per in -patient day for the six months ended June 30, 1964 and December 31, 1963. Rath ').£2 r [n_ Patient Day June 30 jJecernber 31 Increase 7964 1961 (Decrease) Net O.peratin Revenue 35.03 33,04 1, 09 .1. less: Salaries 78) (22. 48) (1. 7 0) Supplies and Other Expense.=. l l 5$) (11, 5 („J ) Totals laj_e_t_Operatin lncorilt_ 32, 30 34, 03 (1, 73) Respectfully- submitted diA2a17_ BROUGt-1 and FULLER Certified Public Accountants H z O O U q v N d rn m 4) f- N- r -0 a 0- 0, -4 M 0` 00 O In 00 N M .-1 ,- 00 CJ 0 0 • N C N 00 o f en CO rn CO .o N `$ lit M 0 1J 0O N- 00 N 0, rn M o • a rod' M CO M o 0 CO In rn o OO 00 O CO r• .1 'T M In N d' en d' N N In en d' d' d' N I- M rn r rn r d' In N c0 M r M LP r N M or, M Lc). co d' d' crr 0 o en M N .-+ N d' N En X v I O b0 H b r b 3 b Y' H 'O , C 00 b z ✓ - m p b F1 f T 'rift 74 N N b b en O • N U N a' O e d InO En LI FM q d' a 0 co M tP. 0` d' O r. d' • -' rn M O N In nI d' 0` '0' M "' M co 0, n N 4 d' d'wrn 'o �w 00 00 d' N r- In M d' O Nei O O In M 0 --1 •� 0` r ND N 00 M D M N co o 00 r- rn rn In d' Ir 000111 0 N CT .-i N 00 d' to In O 0- 0,1 C- 0- n I O O O O rn cr, d N — N b U r on en N N M 565,956.56 631, 726. 03 9 7 0 q 0 N U o u dC C Y > a1 " 3 o U C U LN w U U ti CO ,0 d '0 00 N d r rn en M - r CC 0,d' Oto r 0 M ,- r d' r a d' In rn d' 00 to U rn •-+o ' .-, -0 M N. O r In M' r d N In M 07 N M M rn N d' CO N .0 0 0- ,1) N 00 .-1 in .O In M N D b C C H N 00 0.0 b � 0 O -O N N 7 b C 7�b a' U H CL d U N M d' r M Ir rn rn M M d er M r O to d' e En N VI v N U b H a, U z 160.4455 87 49. 755. 03 ti w LI -0 In U z H En In cr- O O en En t0 En I M on tP N CS, O 0 N U C W 2,1. 335. 97 O r 1- o In to O rn ?, 00 00 0 U1 0` d' CO M In N d' r -O CO M I N u1 r 0 M N N d In m O C - CD O rn O O 00 O M O d' CO to O .0 d to r NO 0, 0 O O N O to IP. O N 21,020.92 rn O C N O O In r N- .O O CO� N- m d' N M to o tP. O 0,aO O OD In CO M r r In M M d' to 0, O- In to ro 0 0 G H v N I q c O � N yr Ii O b E 0H ro v. UU v y q 19, 555.39 en d' en .44 O 00 r N- N M oo rn In 000 ,� c0 O I H OSPITAL LIABILITIES AND CAPITAL C 7 ti 'U) u1 N N) r on O N) C' L.c., r N N) r s r r- N) m co O N) N .. 0` 4 M O N) N U0 -. N 00 I O O r N) .-I NV to -- N) ND N V- O M Ni. —+ M In 0O 19,555.39 In CO ND a` N) M Cl O r on O C' P- CO 00 N) O N u1 oO 00 N rN ,--I 00 ,D 00 d' M-7,0 0` • Cl N) - 0 N) rn rN N r rn Q' r AD ND 00 .-f M in -, u`, on NV on M ND M N) 00 O N)I. `a' N .--i '-• D` O` N rn u1 C' ul ul Co . 1 co -, O Cl .0 00 W ui d1 N) (see Schedui O M M .-r N) on O on N ul 00 00 O` CO r+ u1 ut C- ND N) N ,, 00 u1 CO u1 Orn O` • V- N N M ON ul ul O .D Cl O `t u0 N) ..D ND CO -1' O N) -M N) O NV* r- -- .C I; 0.1ui r- r— orn N on 00 Co 00 N) N-, N) .--, ..-I CO -+ O M r CO N) u1 N) N) C 0 U C b C C Cti U C U O N b� �xn >.0 T� A b b , c,' A po .1 O ^A y y In n' F, 0 7' VO v 7 I. U H U 7 Ua C z Q CDC'-' N .D TM r r- M ui N r r I M O N) N) O` on N) .ti CV un 0 u1 O` u) r CO -, O Co Co on u1 O r N .D $ 6 4 OJ N) NDrnrinN N O N) ND -+ O on N --+ d' 00 NV ND on M ND M on „, 00 M N N) r - In C d C N) tl U 'O C O O CO C A T U C I C 7 O b N).9 o V a C 7 ai L J N „4 U' 444Ul „ y C.9 b 70 t. O e E a� U Z U C a O r O In N N) '-D on rn v ni r- D 00 D r - O NV O ul V N Li 79,683.00 3 u0 N) on co U1 on N) O r N on M ND r N-+ O CD CO O O .D on N O <M V- N O ND O NV ul 0 -. r r a0 u? ▪ N CO 00 on N) NO N) In N) N) N ul r US O ,n r in 0 N) NV d1 T N) O N) M N N) Co r -, ND N) N N on ti 00 M N r- 1 k -- In ,.1 0' C NO 6 C a o h o a, b a, C C O- b U O a al y a, rn 7 C L*i aZ CI C O v I TI1C b N n Y f:''' H a Uf b C 'SJ x+ O afi,n O ' C "b U C ^ 'n OUC VI G. v C I z N ', aG n ' i. T.: 4, .� [ O O r. .� M .• a b y E 3 n m O X n a 7 Q O 1 I b w P4 > u v u b 'U 7 a, n ,a >. b p4 a a' 7 7 w 7 Z o w 0 En. C ti C 'O C n A C a F 4, 819, 486. 19 4,849 041.58 r-+ u? co O CO on N) N r- d' on M O N) r O r N) r ul r N N) N O ;L+ a .Oi C O 9 ti 't.C C d C f U U U 0 0 1. u C I1, a.. " ?. C O C V C CO s. -0Q w C 70 - 0 "- M 0 'D y • y O z WELD CO UNT Y GENERAL ±LOS PIT �iL Plant Fund Statt<rnent of Changes in Fixes". Assets and Accumulated Depreciation Eor The Six M i.ths Ended June_30. 1964 13al.ince Retirel-nent:a FIG:lane January 1 and June 30 . .4 ____ Addition _1. ransf_s rs __I 964.._ in_g_111,_Ant. Plan Land 64, 873. 47 64, 873. 47 Land J►nprove.uents 91, 220. 34 120. 00 91, 340. 34 Ho s pa, Building and Fixed Equipment 4. 515, 491. 98 t,, 567. 75 4, 522, 059.73 Major Movable Equipment 401, 142. 37 48, 050. 67 23, 710. 74 425, 482. 30 Minor Equipment 9028429 90, 528.79 _F gtals 5_, 1 3. 2. tu, 215. 54L? 3.3 44,. 4_3,:a0,24 5. 194. 28.4_,_0_ Mead Hall Nursers' Residenc Building and Fixed Equipment 238, 048, 68 238, 048. 68 Major Movable Equip- ment. 22, 912. 15 22, 912. 15 Minor Equipment 3. 710. 18 - 3. 719, 13 Lot 264. t)71.._01 ----.---- ___ 0 4. 6 71.01 Intern Residence Land 16, 500. 00 16, 500. 00 Land Improvements 5, 5(10. 00 5, 500. 00 Building and Fixed Equipment 106, 000. 00 1 06. 000. 0(1 Major Movable Equip- ment IQ. 151. 70 _.,1.c.,-2_15,_12_ ___-.12.A- i. jL T c t 4-1 s ___13 $,,1 5 1. ; 0 1.935. 7Z,_ � 14g a'a..7_,,... 2. i A�uniulated Depreciation Land Improvements HospitAl Building and Fixed Equipment Major Movable Equipment Totals 12,435.00 l2. 80 13, 347,. 80 674, 773. 67 45, 187. 76 719, 961. 43 144. 852. 7Q 819, 62.6. 37. 20,022. 93 3. t 9.50 65, 260, 69 23, 699. 50 861, 137.56 Qrand Totals 832, 061.37 ¢6. 173.49 699. 50 =mann. Schedule I WELD COUNTY GENERAL HOSPITAL Plant Fund Statement of Changes in Assets Restrict, t,4 R placement and Improvement of Plant (Unaudited) Fqr The Six Months Ended June 30. 1964 Public Works Furtsi Resolution Resolution of. 1963 of 1:51 Cash Receipts Donations - Other Depreciation Funding (from Operating Fund) Reimbursement - Prior Year Tax Levies tals 3z, 062.. 60 31,061.60 1,486.93 50, 400.00 60. 17 51,917.10 (lash 1)isbursenients_ Plant As sets Building and Group I Equipment 41, 6, 667744.,3 388 Group Il Equipment _ _187, 50 Land and Land Improvements 47, 381. 90 Totals Increase (Decrease) During the Period 31, 062. 60 4,065, LU Furrc. Balance - January 1, 1964 79, 683. 00 F'usrci Ba a ce - June 30, 1964 TT Utz .20. L. 6 0 �3 _748 WELD COUNTY G ENE i2A.L HOS PIT AL Operating Lund Operations U.naudited) kiQr The Six Months nd & Jfie 30„_.1964 m1,1 aQg__e_cnber 31, 0¢. i Q,perating Revenues (Schedule 4) Less: Blue Cross and Other Discounts Provision for Doubtful Accounts Total Net Operating Revenue Q.psiating Expenses Nursing Service Dietary and Snack Bar Administration Laboratory Operating and Delivery Rooms Depreciation X-ray Pharmacy Central Supply Plant Operation Laundry Housekeeping Maintenance and Repair Social Security Blood Bank Service Telephone Intern Service Physical Therapy Motor Service Reese Property Rental Total Operating,_ Expenses N. et Operating Inc9me Less: Special Charge - Anest- hetist Net Income iccumul•ited Earnings - Beginning of Period Accumulated Earnings - End of Period June 30 1964 _-- 1, 650, 374. 39 50, 2.97. 48 15.73_0 14 66, 0Z7.t,2. 1, 584, 346. 77 468, 978.51 1.83, 465. 96 107, 903. 0.3 131, 681.68 101, 938.76 66, 173. 49 73, 728. 74 70, 926. 97 44, 52°. 43 38, 757. 88 31, 285. 2.9 39, 553. 79 30, 570.63 29, 771. 65 14, 072.98 8,031.92 11, 968.57 5, 399.71 100. 67 Vacancies 1, 900, 00 1. 460: 739. 66 123, 607. 11 December 31 1, 367, 985. 22 44, 054. 2L 12, 965.07 57,019.29 1, 310, 965. 93 150. 00; { 123,457. 11 Los, 2,q8,19 445, 482. 50 170, 381. 32 104, 689.51 115, 994. 34 86, 073. 54 65, 283. 55 65, 059.79 64, 497. 34 40, 032. 6e 35, 377. 77 31, 374. 02 37, 331. 32 25, 733.17 27, 605. 14 1.2, 804. 37 7, 727.41 9, 92.1. 76 4, 712.75 155.60 iQL2.37. 86 39, 271. 93) 162, 879. 04 460. 25) 310. t.5 Increase 282, 38'4. 17 6, 243. 26 _ 2. 765.Q7 4,008. 33 273,-380., 84 ( ( 23, 496.01 13, 084.64 3, 213.52 15, 687. 34 15, 865. 22 889. 94 8, 668.95 u, 42.9. 63 4, 4.90. 77 3,380.11 88.73) 2, 22.2. 47 4, 837. 46 2, 166.51 1,268.61 304.51 2, 046. 81. 686, 96 54. 93) _ 1.90Q,.QQ.. 39, 732. 18) 163, 189. 2..`i _ 304, 940.37 ( 39, 73L..„_18) 388, 665. 30 265. 208.19 123. 45:71,11 S.cb.eclul�,i WELD COUNTY GENERAL ��3SP11�3L Q,9_e_rajdngE and Uomparat1vr Staterne�3 _C Kati XtCuesLUnau(iiktdi EsLr Z'1LE.__S_i .4%44 _Ended ? 3Q. 1964 anct D tnnher 1_1963 Olaerating Revenues Day Rate Service Laboratory Pharmacy X-ray Medical Supplies and Inhalation Therapy Operating and Emergency Rooms Cafeteria Blood Bank Service Anesthesia Service Delivery Room Recovery Room Physical Therapy Laundry Miscellaneous Snack Bar Telephone Cash Discounts on Purchases Intensive Care Unit TotalQ ratio Rai Cues June 30 19 694, 824. 00 240, 051. 55 170, 810.31 141, 003.42 115, 779. 68 116, 476. 37 36, 077. 35 25, 099.00 20, 067, 80 15, 530, 00 15, 740. 00 13, 665. 10 12, 751.00 11, 403.30 6, 247. 58 1, 733. 17 2, 915.36 10, 199.40 December 31 1963 531, 835. 50 203, 345. 05 154, 402. 57 122, 032. 15 97, 240, 63 104, 400. 48 34,711.88 18, 968. 00 18, 120. 50 16, 750. 00 14, 085. 00 10, 787.45 10, 085. 45 13, 358. 94 6, 486. 26 1,689.35 2,, 265.26 7, 420.75 650.374: 39 1. 367. 985. 22 Increase ( cz&a.A) 162, 988, 50 36, 706, 50 16, 407., 74 18, 971, 27 18, 539, 05 12,075,89 1,365,47 6,131.00 1,947.30 1,220.00) 1, 655.00 2, 877. 65 2, 665. 55 1, 955. 64) 238. 68) 43. 82 650, 10 2,778,65 .41i2„1112,12. =ZS aapa.W.ZIMMislr Schedule .4 WELD COUNTY GENERAL HOSPITAL Comparativ_gtatem,entSalaries (Unaudited) The Sig LAg_nths Ended June 3Q, 1964 and December 31„ 196,3 Salaries Nursing Service Dietary and Snack Bar Administration Laboratory Operating and Delivery Rooms X-ray Laundry Housekeeping Maintenance and Repairs Plant Operation Pharmacy Central Supply Physical Therapy Intern Service Blood Bank Service Totals June 31) 430, 361.63 90, 990. 35 84, 333. 23 99, 491.84 51, 576.76 51, 248. 17 27, 451.21 32, 911. 26 21, 520. 25 8, 934. 96 11, 653.18 11, 676.69 5, 151.31 7, 135.00 5, 263.75 939, 699.59 December 31 1963 418, 099. 83 86, 787. 93 82, 768. 24 87, 302.21 47, 226.73 44, 456. 86 28, 006. 29 31, 293. 17 19, 528. 86 8, 700. 35 12. 076. 56 10, 72.8. 87 4, 571.08 5, 2.50. 00 5, 295. 67 892. 092. 65 Increase {≥.crease) 12, 261.80 4, 202. 42 1, 564. 99 12, 189. 63 4, 350. 03 6, 791. 31 ( 555.08) 1, 618.09 1, 991.39 234.61 ( 423. 38) 947. 82 580. 23 1, 885. 00 ( 31. 9 2) 47. 606.94 Schedule 5 WELD COUNTY GENFli AL f iUSPIT �L Operating 1~'unsi Con-iparative Statement of Supplies and Other Expenses jUnaudited) For The Six Months Encit_cl June 30, 1964 and December 31. 196. Supplies and Other kxpenses Nursing Service Dietary and Snack Bar Administration Laboratory Operating and Delivery Rooms Depreciation X-ray Pharmacy Central Supply Plant Operations Laundry Housekeeping Maintenance and. Repairs Social Security Blood Bank Service Telephone Intern Service Physical Therapy Motor Service Reese Property Rental Vacancies Total Supplies and Other Experts es June 30 1964 38, 616.88 92, 475.61 23, 569. 80 32, 189. 84 50, 362.00 66, 173.49 22, 480.57 59, 273.79 32, 852. 74 29, 822. 92 3, 834.08 6,642.53 9, 050.38 29,771.65 3,809.23 8,031.92 4,833.57 248. 40 100.67 1,900.00 December 31 Increase 1963 (,pecX'ase) 27, 382.67 83, 593. 39 21, 921. 27 28, 692. 13 38, 846.81 65, 283.55 20, 602. 93 52, 420.78 29, 303.79 26, 677.42 3,367.73 6, 038. 15 6,204.31 27, 605. 14 7,508.70 7,727.41 4,671.76 141. 67 155.60 11,234.21 8,882-22 1,648.53 3,497.71 11, 515. 19 889. 94 1,877.64 6,853.01 3,548.95 3, 145. 50 466. 35 604. 38 2,846.07 2,166.51 1,300.53 304.51 161.81 106.73 54.93) 1,900.00 521, 040.07 458.145,21_ 62.894. K. Schedule 6 WELD CQUNTY GE1�IE_1& HOSPITAL M.ead Hall Nurses' Residence Fund Comparative Statement of Operations (Unaudited) For The Six Months Ended June 30, 1964 and Dece_mb_er 31. 196' Gros RenIals June 30 1964 1963 6, 35.1. 50 Operating Expenses Maintenance and Repairs 760.01 Power and Lights 522. 00 Gas 466. 57 Supplies 1,737.91 Laundry 219.60 Telephone 153.00 Housekeeping 102.60 Water 90.00 Insurance 51.84 Window Washing Total Operating Expenses 4. 103.53 Net Operating Income Other Incojie - Interest on Investment Net Income Capital -- Beginning of the Period Capital - End of Period 8,249,20 722. 82 670.00 230. 82 1,258.59 311.70 153.00 102. 60 90.00 103.68 210.00 3,853,21 2, 2.49. q7 4, 395.99 32.5. 00 200.00 2, 574. 97 4,595.99 47, 180.06 42, 584.07 49 755.03 ±12_,_131„_011. December 31 Increase (DeC:r'ea,.) (1,895„ 70) 37,19 ( 148,00) 235.75 479. 32 ( 92. 10) ( 51,84) ( 210.00) 250. 32 (2,146.02.) 125.00 (2, 021.02) 4,595,99 2,574.97 `Schedu.t__:l WELD COUNTY GENERAL HOSPIT AL Reese Property (Intern Residence) Comparative Statement of Operations (Unaudited) Fczr The Six Months Zc Qd June 30. 1964 and December 31. 1961 June 30 December 31 Increase 1964 _._ 1963 Gross Rentals 7, 017. 17 4,840.10 2, 117. 07 Qperating Expenses Interest Expense Legal Services and Appraisals Maintenance Supplies and Miscallaneous Gas and Lights Insurance Total Operating Expense • 3, 199. 97 3, 235. 86 565.00 1,350.03 715.07 1,306.02 462.89 902. 57 235. 15 53.84 6,812.43 5,213.97 ( 35. 89) 565. 00) 634.96 843.13 667.42 „ 84 1,598.46 Net Income (Loss) _2,24.„_11 ( 373. 87) _578.61 tich,,diile 8 Hello