Page 14 - Jewish Home News - Spring 2016

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

8/31/14 8/31/15 8/31/16
ASSETS (amounts in thousands)
Current Assets $39,783 $41,652 $52,162
Contributions receivable 16,898 21,990 19,652
Property, plant & equipment, net 177,474 224,483 288,427
Assets held in trust for residents 613 512 428
Assets limited as to use 143,319 96,038 23,572
Other long-term assets 42,390 42,0180 41,139
TOTAL ASSETS $420,477 $426,937 $425,380

LIABILITIES (amounts in thousands)
Current liabilities $23,808 $28,705 $39,755
Refundable advance fees and deferred revenue 52,068 52,841 51,875
Asset retirement obligation 724 728 727
Resident funds 613 512 428
Fountainview deposits 13,511 14,913 15,074
Long-term debt 237,605 234,070 230,417
Other long-term liabilities 7,852 12,451 5,256
TOTAL LIABILITIES 336,181 344,220 343,532

NET ASSETS (amounts in thousands)
Unrestricted 48,729 41,991 44,108
Temporarily restricted 25,122 30,072 27,245
Permanently restricted 10,445 10,410 10,495

TOTAL NET ASSETS 84,296 82,473 81,848
TOTAL LIABILITIES & NET ASSETS $420,477 $426,693 $425,380

STATEMENT OF ACTIVITIES

amounts in thousands
8/31/14 8/31/15 8/31/16

Patient service revenue $89,609 $95,019 $109,633
Unrestricted contributions and net assets released
from restriction and used for operations 18,064 15,954 14,947
Temporarily & permanently restricted contributions, net of
net assets released from restriction and used for operations (4,573) 5,231 (2,677)

Total revenue 103,000 116,204 121,903

Nursing, medical and dietary 48,771 51,189 58,713
Other general operating 48,784 52,904 49,539
Fund-raising 2,398 2,263 2,552
Debt financing osts 7,615 * 4,139 4,091
Depreciation and amortization 7,067 7,532 7,633
Total expenses 114,635 118,027 122,528

Revenue in excess of (less than) expenses (11,635) (1,823) (625)

Change in net assets $(11,635) $(1,823) $(625)

*includes debt refinancing osts of $3,230 12

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