Page 18 - LAJH 2013-2014 Annual Report
P. 18
Statement of Activities
amounts in thousands
8/31/12 8/31/13 8/31/14
Operating Revenue $84,014 $82,264 $89,609
Patient service revenue
Unrestricted contributions and net assets 13,966 16,163 18,064
released from restriction and used for operations 97,980 98,427 107,673
Total unrestricted operating revenue 42,026 44,589 48,771
40,119 45,383 48,784
Operating Expenses
Nursing and dietary 2,020 2,080 2,398
Other general operating 6,888 6,206 4,385
Fund-raising
Debt financing costs - - 3,230 *
Debt refinancing costs (non-cash)* 6,042 6,691
Depreciation and amortization 7,067
97,095 104,949
Total operating expenses 114,635
885 (6,522)
Unrestricted revenue in excess of expenses (6,962)
TEMPORARILY AND PERMANENTLY RESTRICTED 3,010 18,234 1,380
Contributions (6,380) (8,575) (6,053)
Net assets released from restriction - used for operations
9,659 (4,673)
Temporarily and permanently restricted revenue (3,370)
in excess of (less than) expenses
Change in net assets $(2,485) $3,137 $(11,635)
* The debt refinancing costs are a write-off of previously capitalized debt financing costs. The refinance of
the 2003 bond issue will reduce the Home’s interest expense over the next 20 years.
18
