- The hospital received pledges without donor restriction of $372,600 and pledges with donor restrictions of $216,000. It collected all of the pledges without donor restrictions and $180,000 of the pledges with donor restrictions.
- Cash gifts designated by donors for juvenile diabetes research amounts to $250,000 for the year. During the year, $200,000 was expended for juvenile diabetes research.
- The total services provided by the hospital to all patients during the year amounted to $1,270,697 at the hospitals established billing rates. Based on the contracted rates with third-party payers, the hospital expects to collect approximately $889,488 (70 percent) of this amount. Due to current economic conditions, it expects that $133,423 (15 percent of the 70 percent) will have to be written off as bad debts.
- It also provided $93,600 in charity care, which it never expected to collect.
- It collected $864,225 in patient accounts recorded in transaction (iii).
- It earned and fully collected other operating revenues from its parking garage of $1,000,000; cafeteria of $820,000; and gift shop of $610,000.
- It earned $27,072 in investment income, of which $18,144 is not restricted by donors and $8,928 is restricted.
- The hospital sold marketable securities without donor restriction to hire a well-known researcher. It received $600,000 from investments that had a fair market value of $550,000 at the end of the prior fiscal year.
- It purchased equipment for its new gastroenterology unit of $435,600, all of which was paid for by liquidating marketable securities with donor restrictions.
- It charged depreciation of $526,716
- Supplies were purchased in the amount of $800,000 all on account.
- It incurred $1,775,170 in wages and salaries, of which it paid $1,765,000. The balance was accrued. It also incurred $860,000 in other operating expenses (including those of auxiliary enterprises), of which it paid $797,750. The balance was vouchered (and thereby credited to accounts payable).
- Other operating expenses for the year included insurance costs. However, under retrospective insurance policies, the hospital anticipates having to pay an additional $6,300 in premiums.
- It incurred and paid $378,360 in costs related to contracts (an exchange transaction). It was reimbursed for $372,240 and expects to be reimbursed for the balance in the future. In addition, it received $5,400 in advances on other contracts.
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