HomeMy WebLinkAbout09-1968
ART)JUIt ANDIAISF.N &
UnLi.nti,7'rxnS
To the Board of Managers,
Flow Memorial Hospital;
(a Texas We have examined the balance sheet of Flow Memorial Hospital
city county hospital
as of September 30, 196g, and the
related statements of operations and of chenges in fund ee
the year then ended, pital for
Our examination was made in accordance with
generally accepted auditing standards, and accordingly included such
tes~,s of the accounting records
and such other auditing procedures as
we considered necessary in the circumstances.
In our opinion, the accompanying finencial statements present
fairly the financial
position of Flow Memorial Hospital as of
September 30, 1968, and the results of its operations for the year then
ended, in conformity with
generally accepted accounting
appl_ea on a basis consistent principles
with that of the preceding year,
Dallas, Texas,
Novembor 9, 1968.
FLOW MEMORIAL
BALANCE t11iI,ET--
A S) 0" 1: `I' r
CASH (including time deposits of $45,997) 0471453
restricted for plbnt construction, equipment
replacement and additions) $ 47,7'18
RECEIVABLES:
Patients, less reserve for doubtful accountu Df
$150,000 613,611
Grants, 11111-Burton (Note 2) 53,000
Other 980
667,591
INVENTOR Mt;O at cost 67,311
PREPAID EXPENSE" 14,832
HOSPITAL PLANT, at coat:
Land 37,:'47
Buildings and improvements 3022,971
Equipment and faZrniture 868,954
Le:>s- Accumulated depreciation (678,617)
3,350,855
$4,146,367
The accuml,an,ying notes are an
HOSPITAL
SEPTEMBER 30, 1968
L I A B I I, I T I F S A N D F 11 11 1) C A P I T A L
ACCOUNTS PAYABLE $ 101,063
ACCRUED LIABILITIES 109,500
CONTRACTS PAYABLE (Note 2) 175,011
MEDICARE FINANCING ADVANCES 39,289
NOTES PAYABLE:
Equipment notes, secured by various Hospital
communication equipment; balance payable
monthly, including interest over a five-
year period (current maturities, $3,962) 19,808
Other 3,8'12
Total liabilities 448,543
FUND CAPITAL 3,699,824
$4,148,367
integral part of this statement.
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FLOW MEMORIAL HOSPITAL
STATEMENT OF OPERATIONS
FOR THE YEAR ENDED SEPTEMBER 30) 19,66
INCOME:
Gross revenues from cire of patients $2,465,124
Less-
Charity allowances and provision 216,014
for doubtful accounts 49,957
Medicare allowances
Patient care income 2,199,153
Other Hospital income 73_!98
-
Total 2=272,951
OPERATING COST: 1,340,903
Professional care of patients 268,189
Dietary
Household and property 224,481
349,596
Administration and general 169,017
Depreciation 16029
Other
-
Total 2=368,515
NET (LOSS) $ (95)564)
The accompanying notes are an integral
part of this statement.
FLEA 11EMOP1AI HO671'ITAI,
;TAT JAENT OF ('YANG 'a IIJ FUND CAPITAL
FOE THY YEAR ENDFD SHE"P!':1dRh;R 30, 11)68
Ccmponents of Fund Cal,ital
County city Plcd~lo
01'eratim! of of Bequest - Federal nlyd
Deficit Denton Denton Flow Estate Grantd Gift: Total
I3AL.AtJCE0 teginnin* of ;,ear $(430,23•1 $1, 681o261 $263,270 $240,461 $1,:33,21 $164„99; $3,352,944
E
Net ].,ss for the ;.ear (95, 564) - - - - - (951 564 )
I
Cc,ntrit " •7: a :I E!re:.'.♦ restricted
for plant and equipment (Note 2) 10()1000 - 284,650 12,258 396p9O8
D'Jnrited c,1,_iment any I ril Improvemantc - 1'15,610 z9,8S6 - - 45,506
i11.'ICL', ~nl of ~ea1- r(5r7,'I96) :;',1,696,871 ¢393x166 $240,461 $1,717,871 $177,251 $3,69`3,8;4
The accompan;rinp are ai, int(• 1 part of this statement.
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FLOW MEMORIAL HOSPITAL
NOTES TO FINANCIAL STATEMENT.';
SEPTEMBER 301 1968_
(11 T1PE OF ORGANIZATION;
Flow Memorial Hospital is a city-cointy hospital
organized and operating under the authority of Texas Civil
I Statute Article No. 44941 which authorizes the joint establish-
ment and operation of hospitals by counties and cities.
The Hospital is governed by a Board of Managers
composed of seven members; three of which are appointed by the
Commissioner's Court of Denton County, three by the City
Commission of the City of Denton, and one by the County and City
acting jointly as one appointive body.
(2) CONSTRUCTION PROGRAM:
The Hospital has substantially completed a four.year
construction program during 1968, at a cost of approximately
$2,1000000. The addition was financed by a $1,000,000 Denton
County tax bond issue, Hill-Burton Federal Grants of $1,050,000
and City of Denton and other coi,tributions.
Of the $1,0500000 Hill-Burton Grant, $231,650 was
received during 1968 and $53,000 is being held by the Texas
State Department of Health until a final audit has been
completed by the State and Federal representatives; to insure
that all construction has been completed and all contractors
have been paid.
As of September 30, 1968, the Hospital owed contract
balances of $175,011 which will become due upon final acceptance
by the Hospital.
Mai