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Financial Report
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| ASSETS |
Year Ended September 30 | |
| Current Assets: | 2006 | 2007 |
| Cash and cash equivalents | $ 8,156,361 |
$ 8,196,747 |
| Assets limited as to use - current | 40,534,971 | 28,423,479 |
| Patient accounts receivable, net | 15,381,916 | 14,693,333 |
| Estimated third-party payor settlements receivable | 751,121 | 1,560,108 |
| Other current assets | 3,523,640 | 3,713,514 |
| Property taxes receivable | 261,629 | 264,618 |
| TOTAL CURRENT ASSETS: | $68,609,638 | $56,851,799 |
| Restricted Investments | 665,418 | 3,050,487 |
| Capital Assets | ||
| Land | 1,044,686 | 1,044,686 |
| Construction - in progress | 2,210,462 | 18,522,809 |
| Depreciable capital assets, net | 29,695,939 | 28,920,669 |
| TOTAL CAPITAL ASSETS, NET: | $32,951,087 | $48,488,164 |
| OTHER ASSETS: | 1,096,117 | 997,656 |
$103,322,260 |
$109,388,106 |
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| LIABILITIES
AND NET ASSETS |
2006 |
2007 |
| Current Liabilities | ||
| Current portion of long-term debt | $2,485,937 | $ 2,185,206 |
| Accounts payable | 2,139,208 | 5,959,100 |
| Estimated third party payor settlements payable | 1,251,504 | 1,553,833 |
| Deferred revenue - current | 100,383 | 100,383 |
| Accrued expenses | 4,864,823 | 4,917,984 |
| TOTAL CURRENT LIABILITIES: | $10,841,855 | 14,716,506 |
| Long-term debt, net of current portion | 37,459,409 |
37,983,977 |
| Deferred revenue, net of current portion | 786,339 | 685,955 |
| TOTAL LIABILITIES: | $49,087,603 | $53,386,438 |
| Commitments and contingencies | 2006 | 2007 |
| Net Assets | ||
| Invested in capital assets net of related debt | $32,951,087 |
$48,488,164 |
| Restricted for self-funded malpractice | 665,418 |
690,057 |
| Restricted for capital purchases | 0 |
2,360,430 |
| Unrestricted | 20,618,152 |
4,463,017 |
| TOTAL NET ASSETS: | 54,234,657 |
56,001,668 |
| $103,322,260 |
$109,388,106 |
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| COMBINED
STATEMENTS OF REVENUE, EXPENSES AND CHANGES IN NET ASSETS |
||
| Year Ended September 30 | ||
| Unrestricted revenues, gain and other support | 2006 | 2007 |
| Net Patient Service revenue | $ 71,625,431 | $74,400,568 |
| Other revenue | 1,839,538 | 1,964,019 |
| TOTAL REVENUES, GAINS & OTHER SUPPORT: | $73,464,969 | $76,364,587 |
| Expenses | 2006 | 2007 |
| Operating expenses | $74,737,300 |
$77,980,706 |
| Depreciation and amortization | 4,241,244 | 4,341,507 |
| TOTAL EXPENSES: | 78,978,544 | 82,322,213 |
| OPERATING INCOME (LOSS): | ($5,513,575) | ($5,957,626) |
| Non-operating Revenues (Expenses) | 2006 | 2007 |
| Property tax revenue | $6,091,551 |
$6,712,988 |
| Non-capital grants and contributions | 95,477 | 92,115 |
| Investment income | 1,405,862 | 1,513,968 |
| Interest expense | (647,029) | (683,947) |
| TOTAL NON-OPERATING REVENUES (EXPENSES): | $6,945,861 | $7,635,124 |
| Excess of revenues over expenses before capital grants & contributions | $1,432,286 | $1,677,498 |
| Capital grants & contributions | 182,458 | 89,513 |
| Increase (decrease) in net assets | 1,614,744 | 1,767,011 |
| NET ASSETS - beginning of year | $52,619,913 | $54,234,657 |
| NET ASSETS - end of year | $54,234,657 | $56,001,668 |
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Hunt Regional Healthcare
4215 Joe Ramsey Blvd.
Greenville, Texas 75401
903-408-5000