BEXAR COUNTY COMMUNITY HEALTH COLLABORATIVE

Transcription

1 BEXAR COUNTY COMMUNITY HEALTH COLLABORATIVE FINANCIAL STATEMENTS DECEMBER 31, 2013 and 2012 Randy Walker & Co., Certified Public Accountants

2 RANDY WALKER & Co. Certified Public Accountants 7800 IH I 0 West, Suite 505 San Antonio, Texas Phone (210) Fax (210) INDEPENDENT AUDITOR'S REPORT To the Board of Directors Bexar County Community Health Collaborative San Antonio, Texas We have audited the accompanying financial statements of the Bexar County Community Health Collaborative (the Organization), a non-profit organization, as of December 31, 2013 and 2012, and the related statements of activities (with comparative totals for 2012), functional expenses (with comparative totals for 2012), and cash flows for the years then ended, and related notes to the financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

3 Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Organization as of December 31, 2013 and 2012, and the changes in its net assets and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. San Antonio, Texas July 23, 2015

4 STATEMENTS OF FINANCIAL POSITION December 31, 2013 and ASSETS Cash $ 124,017 $ 112,744 Grants and Program Receivable 151, ,732 Prepaid Expenses 2,300 2,300 Equipment (net) 1,514 2,748 TOTAL ASSETS $ 279,097 $ 266,524 LIABILITIES AND NET ASSETS LIABILITIES Accounts Payable $ 106,110 $ TOTAL LIABILITIES 106,110 NET ASSETS Unrestricted 88,728 93,803 Temporarily Restricted 84, ,721 TOTAL NET ASSETS 172, ,524 TOT AL LIABILITIES AND NET ASSETS $ 279,097 $ 266,524 The accompanying notes are an integral part of these financial statements. 3

5 STATEMENT OF ACTIVITIES For The Year Ended December 31, 2013 (with comparative totals for 2012) 2013 Temporarily Unrestricted Restricted Total 2012 SUPPORT AND REVENUE Dues $ 244,633 $ - $ 244,633 $ 236,268 Program Income 193, , ,367 Project Measure Up Grants - 180, , ,000 Community Health Assessment Grants - 70,000 70, ,000 Young Minds Matter Grants - 61,315 61, ,171 Other Grants 33,261-33,261 27,392 Other Income 20,662-20,662 21,498 Interest Income Net Assets Released from Restrictions 400,477 (400,477) - - TOTAL SUPPORT AND REVENUE 892,212 (88,462) 803, ,910 EXPENSES Program Expenses 774, , ,811 General and Administrative 122, , ,314 TOTAL EXPENSES 897, , ,125 (Decrease) Increase in Net Assets (5,075) (88,462) (93,537) 144,785 Net Assets, Beginning of Year 93, , , ,739 NET ASSETS, End of Year $ 88,728 $ 84,259 $ 172,987 $ 266,524 The accompanying notes are an integral part of these financial statements. 4

6 STATEMENT OF FUNCTIONAL EXPENSES For the Year Ended December 31, 2013 (with comparative totals for 2012) 2013 Program General and 2012 Expense Administrative Total Total EXPENSES Salaries $ 258,376 $ 28,708 $ 287,084 $ 226,451 Contract Labor 133,069 20, ,644 20,988 Professional Fees 86,880 28, ,840 77,831 Publications 104, ,522 50,166 Food and Beverages 41,268 4,585 45,853 39,689 Insurance 32,992 3,666 36,658 28,385 Lease Expense 27,080 3,009 30,089 28,800 Taxes - Payroll 20,555 2,283 22,838 18,179 Travel 15,392 1,710 17,102 15,346 Seminars - 16,576 16,576 16,433 Program - SAHLI 14,815-14, Telephone 9,994 1,110 11,104 9,857 Supplies 9,100 1,011 10,111 12,519 Employee Benefits 7, ,785 5,520 Training 6,649-6, Equipment 3, ,220 60,498 Accounting - 4,000 4,000 3,800 Miscellaneous Expense - 2,957 2,957 1,677 Utilities 2, ,509 2,525 Depreciation 1, ,234 1,882 Bank Charges - 1,123 1,123 1,360 Dues and Subscriptions Postage TOTAL EXPENSES $ 774,969 $ 122,318 $ 897,287 $ 623,125 The accompanying notes are an integral part of these financial statements. 5

7 STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2013 and CASH FLOWS FROM OPERATING ACTIVITIES (Decrease) Increase in Net Assets From Operations $ (93,537) $ 144,785 Adjustments to Reconcile Net Change to Net Cash Provided by Operations: Depreciation Expense 1,234 1,882 Decrease (Increase) in Assets: Grants and Program Receivable (2,534) (96,608) Prepaid Expenses - 3,700 Increase in Liabilities: Accounts Payable 106,110 - NET CASH PROVIDED BY OPERATING ACTIVITIES 11,273 53,759 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of Equipment - (1,650) NET CASH USED BY INVESTING ACTIVITIES - (1,650) NET INCREASE IN CASH FLOWS 11,273 52,109 Cash, Beginning of Year 112,744 60,635 CASH, End of Year $ 124,017 $ 112,744 The accompanying notes are an integral part of these financial statements. 6

8 NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 1 - SUMMARY OF ACCOUNTING POLICIES Basis of Accounting The accompanying statements of Bexar County Community Health Collaborative (the Organization) have been prepared on the accrual basis of accounting. The significant accounting policies followed are described below to enhance the usefulness of the financial statements to the reader. Nature of Activities Bexar County Community Health Collaborative is a non-profit corporation chartered in February Bexar County Community Health Collaborative s purpose is to improve the health status of the community by working collectively to solve critical community health needs while efficiently utilizing resources. Basis of Presentation The Organization is required to report information regarding its financial position and activities according to three classes of net assets: Unrestricted net assets Net assets that are not subject to donor-imposed stipulations. Temporarily restricted net assets Net assets subject to donor-imposed stipulations that may or will be met either by actions of the Organization and/or the passage of time. Permanently restricted net assets Net assets subject to donor-imposed stipulations that they be maintained permanently by the Organization. The Organization had no permanently restricted net assets at December 31, 2013 and Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles includes the use of estimates that affect the financial statements. Accordingly, actual results could differ from those estimates. Property and Equipment Purchased property and equipment are stated at cost. Donated assets are recorded at estimated market value at the date of donation. Depreciation for equipment is computed using the straight-line method over the estimated usefule lives of five to ten years. Income Taxes Bexar County Community Health Collaborative is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. As of December 31, 2013, the tax years that remain subject to examination by taxing authorities begin with

9 NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 1 - SUMMARY OF ACCOUNTING POLICIES (continued) Support and Revenue All contributions are considered available for unrestricted use, unless specifically restricted by the donor or by the activity for which the contribution was solicited, and are recorded when pledged. Grants and Program Receivable The Organization considers its grants receivable to be fully collectible; accordingly, no allowance for doubtful accounts is recorded. NOTE 2 - RELATED-PARTY TRANSACTION During the years ended December 31, 2013 and 2012, the Organization paid $78,633 and $35,512, respectively, to a firm owned by a Board Member for consulting services provided to the Organization. NOTE 3 - EQUIPMENT Equipment at December 31, 2013 and 2012 consisted of the following: Equipment $ 14,449 $ 14,449 Less Accumulated Depreciation (12,935) (11,701) Total $ 1,514 $ 2,748 Depreciation expense for the years ended December 31, 2013 and 2012 was $1,234 and $1,882, respectively. NOTE 4 - CONCENTRATION OF REVENUE Dues from member organizations in 2013 and 2012 provided approximately 30% and 29% of the Organization s revenue, respectively. Additionally, approximately 43% and 49% of the Organization s revenue was provided by grants from various agencies during 2013 and 2012, respectively. NOTE 5 - TEMPORARILY RESTRICTED NET ASSETS Temporarily restricted net assets at December 31, 2013 and 2012 consisted of the following: Health Assessment $ 7,520 $ 112,252 Project Measure Up 16,270 - Young Minds Matter ,000 60,000 Youth Mental Health Council Total $ 84,259 $ 172,721 8

10 NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 6 - OPERATING LEASES In January 2011, the Organization entered into a 36-month lease agreement with James C. Baggett, which expired December In January 2014, the Organization entered into a new 36-month lease agreement with James C. Baggett. The total future required minimum lease payments for the operating lease are as follows: Years Ending December 31, 2014 $ 33, , ,200 Total Future Payments $ 106,200 Total lease expense was $30,089 and $28,800 for the years ended December 31, 2013 and 2012, respectively. NOTE 7 - RETIREMENT PLAN The Organization contributes to the employees 403(b) tax-deferred annuity retirement plan. The Organization has agreed to contribute 3% of the employees salaries. The related expense for the fiscal years ended December 31, 2013 and 2012 was $7,785 and $5,520, respectively. NOTE 8 - SUBSEQUENT EVENTS The Organization has evaluated subsequent events through July 23, 2015, which is the date the financial statements were available to be issued. NOTE 9 - FAIR VALUE OF FINANCIAL INSTRUMENTS The Organization adopted the provisions of ASC 820, Fair Value Measurements and Disclosures (formerly SFAS 157). ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market, and establishes a framework for measuring fair value in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The adoption of ASC 820 did not affect the Organization s financial position or results of operations. The valuation techniques required by ASC 820 are based upon observable and unobservable inputs, and ASC 820 establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The three levels of inputs used to measure fair value are as follows: 9

11 NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 9 - FAffi VALUE OF FINANCIAL INSTRUMENTS (continued) Level 1 inputs consist of unadjusted quoted prices in active markets for identical assets or liabilities and have the highest priority. Level 2 valuations are based on quoted prices in markets that are not active. Level 3 valuations are based on inputs that are unobservable and supported by little or no market activity. The Organization does not have Level 2 or Level 3 assets or liabilities. The Organization' s financial instruments (Level 1) are as follows at December 31 : Carrying Amount 2013 Fair Value Carrying Amount 2012 Fair Value Financial Assets: Cash Grants and Program Receivable Prepaid Expenses $ 124,017 $ 151,266 $ 2,300 $ 124,017 $ 112,744 $ 151,266 $ 148,732 $ 2,300 $ 2,300 $ 112, 744 $ 148,732 $ 2,300 Financial Liabilities: Accounts Payable $ 106,110 $ 106,110 $ $ The carrying amounts reported in the statements of financial position approximate fair values because of the short maturities of those instruments. 10