Proposed Budget. Goshen Care Center Joint Powers Board. Location: Date: Time:

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1 FY 7/1/17-6/30/18 Budget Goshen Care Center Joint Powers Board 241 East 21st Avenue Torrington, WY Goshen County Location: Date: Time: Budget Hearing Information Goshen County Commissioners Budget Prepared by: Marilyn Fisher, Treasurer S-A BUDGET MESSAGE W.S (d) Goshen Care Center Joint Powers Board contracted with Welcov (Torrington Healthcare I, LLC) to be the provider for operations at the Goshen Care Center and Alzheimer Unit as of August 1, The Joint Powers Board now serves as landlord under a triple net leasing arrangement for a term of five years, with renewal options. Lease revenue is the main source of income for the Joint Powers Board. Under the lease agreement, the operator is responsible for all expenses and charges related to the ownership and operation of the property, including upkeep, maintenance, insurance, taxes, utilities, and other charges. Therefore this budget reflects mainly debt service expenses, plus a minimal amount for administration expenses. Other projected expenses include an amount for final settlement with the previous provider for subsidy of past operations. The subsidy amount is in dispute, but is expected to be paid within the fiscal year ending June 30, In addition, the Joint Powers Board has agreed to pay a total of $5,133 per month to Goshen County for the year ended June 30, 2018, as an equalization of rent received for the County s ownership of Evergreen Court, a property also leased by the Care Center provider. Debt service payments include a final payment to Wyrulec of $36,000 plus a fee of $360. The first installment on a five-year loan from the Wyoming Business Council totaling $190,466 will be due this fiscal year. General fund balances will be retained for debt service and capital improvement requirements. Also, under the terms of the grant, revenue recapture for repayment to the Wyoming Business Council and retention for health care/economic development purposes is required. S-B RESERVE DESCRIPTION Goshen Care Center Joint Powers Board contracted with Welcov (Torrington Healthcare I, LLC) to be the provider for operations at the Goshen Care Center and Alzheimer Unit as of August 1, The Joint Powers Board now serves as landlord under a triple S-C Names of Board Members Paul Novak Dan Ellis Ron Laher Marilyn Fisher Nancy Hobbs Mike Varney Carl Rupp Date of End Does the district have regular office hours of Term exceeding 20 hours per week? No If no above: Are the records on file with the County Clerk as required by W.S ? Yes Where are the minutes of your board meeting available for public review? C/O Ron Laher, Secretary How and where are the notices of meeting posted for the public? Set meeting 2nd Thursday of every month - advertised in local newspaper if changed or if special meeting called Where are the public meetings held? Board room - Goshen Care Center

2 PROPOSED BUDGET SUMMARY OVERVIEW S-1 Total Budgeted Expenditures $943,836 $1,001,053 $401,633 $401,633 S-2 Total Principal to Pay on Debt $36,000 $36,000 $226,466 $226,466 S-3 Total Change to Restricted Funds $12,098 -$13,552 -$29,071 -$29,071 S-4 Total General Fund and Forecasted Revenues Available $2,167,152 $2,431,450 $1,732,970 $1,732,970 S-5 Amount requested from County Commissioners $0 $0 $0 $0 S-6 Additional Funding Needed : $0 $0 REVENUE SUMMARY S-7 Operating Revenues $292,320 $293,760 $293,760 $293,760 S-8 Tax levy (From the County Treasurer) $0 $0 $0 $0 S-9 Government Support $0 $0 $0 $0 S-10 Grants $384,203 $615,798 $0 $0 S-11 Other County Support (Not from Co. Treas.) $0 $0 $0 $0 S-12 Miscellaneous $177,912 $54,580 $2,000 $2,000 S-13 Other Forecasted Revenue $0 $292,094 $29,071 $29,071 S-14 Total Revenue $854,435 $1,256,232 $324,831 $324,831 FY 7/1/17-6/30/18 Goshen Care Center Joint Powers Board EXPENDITURE SUMMARY S-15 Capital Outlay $931,392 $979,657 $0 $0 S-16 Interest and Fees On Debt $0 $720 $360 $360 S-17 Administration $11,564 $6,124 $640 $640 S-18 Operations $630 $13,552 $400,133 $400,133 S-19 Indirect Costs $250 $1,000 $500 $500 S-20 Total Expenditures $943,836 $1,001,053 $401,633 $401,633 DEBT SUMMARY S-21 Principal Paid on Debt $36,000 $36,000 $226,466 $226,466 CASH AND INVESTMENTS S-22 TOTAL GENERAL FUNDS $1,312,717 $1,175,218 $1,408,139 $1,408,139 Summary of Reserve Funds S-23 Beginning Balance in Reserve Accounts S-24 a. Depreciation Reserve $0 $0 $0 S-25 b. Other Reserve $30,525 $42,623 $29,071 $29,071 S-26 c. Emergency Reserve (Cash) $0 $0 $0 $0 S-27 Amount to be added Total Reserves (a+b+c) $30,525 $42,623 $29,071 $29,071 S-28 a. Depreciation Reserve $0 $0 $0 $0 S-29 b. Other Reserve $12,098 $0 $0 $0 S-30 c. Emergency Reserve (Cash) $0 $0 $0 $0 Total to be added (a+b+c) $12,098 $0 $0 $0 S-31 Subtotal $42,623 $42,623 $29,071 $29,071 S-32 Less Total to be spent $0 $13,552 $29,071 $29,071 S-33 TOTAL RESERVES AT END OF FISCAL YEAR $42,623 $29,071 $0 $0 End of Summary Budget Officer / District Official (if not same as "Submitted by") Date adopted by Special District 5/11/2017 DISTRICT ADDRESS: 241 East 21st Avenue Torrington, WY PREPARED BY: Marilyn Fisher, Treasurer DISTRICT PHONE: Prepared in compliance with the Uniform Municipal Fiscal Procedures Act (W.S through 124) as it applies. 3/27/17 Form approved by Wyoming Department of Audit, Public Funds Division

3 Budget Goshen Care Center Joint Powers Board NAME OF DISTRICT/BOARD PROPERTY TAXES AND ASSESSMENTS R-1 Property Taxes and Assessments Received R-1.1 Tax Levy (From the County Treasurer) R-1.2 Other County Support FORECASTED REVENUE R-2 Revenues from Other Governments R-2.1 State Aid R-2.2 Additional County Aid (non-treasurer) R-2.3 City (or Town) Aid R-2.4 R-2.5 Total Government Support $0 $0 $0 $0 R-3 Operating Revenues R-3.1 Customer Charges $292,320 $293,760 $293,760 $293,760 R-3.2 R-3.3 Sales of Goods or Services Other Assessments R-3.4 Total Operating Revenues $292,320 $293,760 $293,760 $293,760 R-4 Grants R-4.1 Direct Federal Grants R-4.2 Federal Grants thru State Agencies R-4.3 Grants from State Agencies $384,203 $615,798 R-4.4 Total Grants $384,203 $615,798 $0 $0 R-5 Miscellaneous Revenue R-5.1 Interest $4,492 $3,205 $2,000 $2,000 R-5.2 Other: Specify Sale of Property $153,642 $51,375 R-5.3 Other: See Additional $19,778 R-5.4 Total Miscellaneous $177,912 $54,580 $2,000 $2,000 R-5.5 Total Forecasted Revenue $854,435 $964,138 $295,760 $295,760 R-6 Other Forecasted Revenue R-6.1 a. Other past due-as estimated by Co. Treas. R-6.2 b. Other forecasted revenue (specify): R-6.3 SLIB Loan $0 $894,340 $0 R-6.4 Transfer from Memorial Fund $13,552 $29,071 $29,071 R-6.5 Accrual to Cash Adjustment -$615,798 R-6.6 Total Other Forecasted Revenue (a+b) $0 $292,094 $29,071 $29,071

4 NAME OF DISTRICT/BOARD Budget CAPITAL OUTLAY BUDGET E-1 E-1.1 Real Property $915,715 $1,238,135 E-1.2 Vehicles E-1.3 Office Equipment E-1.4 E-1.5 Furniture & Equipment $15,677 $42,550 E-1.6 Accrual to Cash Adjustme -$301,028 E-1.7 Capital Outlay E-1.8 TOTAL CAPITAL OUTLAY $931,392 $979,657 $0 $0 E-2 ADMINISTRATION BUDGET E-2.1 E-2.2 E-2.3 E-2.4 E-2.5 E-2.6 Personnel Services Administrator Secretary Clerical E-2.7 E-3 Board Expenses E-3.1 Travel E-3.2 Mileage E-3.3 E-3.4 Board Expenses $11,564 $6,124 $640 $640 E-4 E-3.5 E-3.6 E-4.1 E-4.2 E-4.3 E-4.4 E-4.5 E-4.6 Contractual Services Legal Accounting/Auditing E-5 Other Administrative Expenses E-5.1 Office Supplies E-5.2 Office equipment, rent & repair E-5.3 Education E-5.4 Registrations E-5.5 E-5.6 E-5.7 E-5.8 E-6 TOTAL ADMINISTRATION $11,564 $6,124 $640 $640

5 Budget OPERATIONS BUDGET E-7 E-7.1 E-7.2 E-7.3 E-7.4 E-7.5 E-7.6 E-8 Travel E-8.1 E-8.2 E-8.3 E-8.4 Personnel Services Wages--Operations Service Contracts Mileage E-8.5 E-9 E-9.1 Operating supplies (List) Memorial Fund $630 $13,552 $29,071 $29,071 E-10 E-9.2 E-9.3 E-9.4 E-9.5 E-10.1 E-10.2 E-10.3 E-10.4 E-10.5 E-11 Contractual Arrangements (List) E-11.1 E-11.2 E-11.3 E-11.4 E-11.5 E-12 Other operations (Specify) E-12.1 E-12.2 Banner Subsidy $309,464 $309,464 E-12.3 Goshen County Rent Adju $61,598 $61,598 E-12.4 E-12.5 Program Services (List) E-13 TOTAL OPERATIONS $630 $13,552 $400,133 $400,133

6 Budget INDIRECT COSTS BUDGET E-14 Insurance E-14.1 Liability $250 $1,000 $500 $500 E-14.2 Buildings and vehicles E-14.3 Equipment E-14.4 E-14.5 E-14.6 E-14.7 E-15 Indirect payroll costs: E-15.1 FICA (Social Security) taxes E-15.2 Workers Compensation E-15.3 Unemployment Taxes E-15.4 Retirement E-15.5 Health Insurance E-15.6 E-15.7 E-15.8 E-15.9 E-16 Depreciation Expenses E-17 TOTAL INDIRECT COSTS $250 $1,000 $500 $500 DEBT SERVICE BUDGET D-1 Debt Service D-1.1 Principal $36,000 $36,000 $226,466 $226,466 D-1.2 Interest D-1.3 Fees $720 $360 $360 D-2 TOTAL DEBT SERVICE $36,000 $36,720 $226,826 $226,826

7 NAME OF DISTRICT/BOARD Budget GENERAL FUNDS C-1 Balances at Beginning of Fiscal Year C-1.1 General Fund Checking Account Balance $440,452 $299,555 $1,294,784 $1,294,784 C-1.2 C-1.3 Savings and Investments Account Balance General Fund CD Balance $872,265 $875,663 $113,355 $113,355 C-1.4 C-1.5 All Other Funds Reserves (From Below) $30,525 $42,623 $29,071 $0 C-1.6 Total Cash and Investments on Hand $1,343,242 $1,217,841 $1,437,210 $1,408,139 C-2 General Fund Reductions: C-2.1 a. Unpaid bills at FYE C-2.2 b. Reserves $42,623 $29,071 $0 $0 C-2.3 Total Deductions (a+b) $42,623 $29,071 $0 $0 C-2.4 Non-Restricted Funds Available $1,300,619 $1,188,770 $1,437,210 $1,408,139 DEPRECIATION RESERVE (CAPITAL OUTLAY - REPLACEMENT) C-3 C-3.1 Beginning Balance in Reserve Account (end of previous year) $0 $0 C-3.2 C-3.3 Date of Reserve in Minutes: Amount to be added to the reserve C-3.4 Date of Reserve in Minutes: C-3.5 SUB-TOTAL $0 $0 $0 $0 C-3.6 C-3.7 Identify the amount to be spent from "Reserve for Capital Outlay" a. C-3.8 b. C-3.9 c. C-3.10 C-3.11 Date of Reserve in Minutes: TOTAL CAPITAL OUTLAY (a+b+c) $0 $0 $0 $0 C-3.12 Balance to be retained in Depreciation Reserve Account $0 $0 $0 $0 OTHER RESTRICTED FUND BALANCES - RESERVE (LEGALLY ENFORCED) C-4 C-4.1 Beginning Balance in Reserve Account (end of previous year) $30,525 $42,623 $29,071 $29,071 C-4.2 C-4.3 Date of Reserve in Minutes: Amount to be added to the reserve $12,098 C-4.4 Date of Reserve in Minutes: Restricted Donations C-4.5 SUB-TOTAL $42,623 $42,623 $29,071 $29,071 C-4.6 C-4.7 Identify the amount and project to be spent from "Other a. Memorial Fund $13,552 $29,071 $29,071 C-4.8 b. C-4.9 c. C-4.10 C-4.11 Date of Reserve in Minutes: TOTAL OTHER RESERVE OUTLAY (a+b+c) $0 $13,552 $29,071 $29,071 C-4.12 Balance to be retained in Other Reserve Account $42,623 $29,071 $0 $0 ASSIGNED FUND BALANCE (EMERGENCY RESERVE - NOT COMMITTED) C-5 C-5.1 Beginning Balance in Reserve Account (end of previous year) $0 $0 C-5.2 C-5.3 Date of Reserve in Minutes: Amount to be added to the reserve C-5.4 C-5.5 Date of Reserve in Minutes: SUB-TOTAL $0 $0 $0 $0 C-5.6 C-5.7 C-5.8 Amount to be spent from Emergency Reserve (Cash) Date of Reserve in Minutes: Balance to be retained in Assigned Fund Balance $0 $0 $0 $0 C-5.9 TOTAL TO BE SPENT $0 $13,552 $29,071 $29,071