PALO VERDE HOSPITAL. Board Package Financial Report. July 27, 2011

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1 PALO VERDE HOSPITAL Board Package Financial Report July 27, 2011 Financial Statements Income Statements 1 For the month ending June 30, 2011 Comparative Balance Sheets 2 June 30, 2011 Statistics 3 Monthly statistics for each of the twelve months ending June 30, 2011 Summary of Capital Purchases 4

2 Month PALO VERDE HOSPITAL PROFIT AND LOSS ANALYSIS - BOARD REPORT JUNE 2011 (UNAUDITED) Year-to-Date Actual Budget $ Variance % Variance Actual Budget $ Variance % Variance Revenue 12 $6,198,822 $6,936,160 ($737,338) -11.9% Patient Service Revenue $80,756,801 $83,233,923 ($2,477,122) -3.1% (3,712,027) -59.9% ($3,920,124) -56.5% 208, % Less: Contractual Allowances ($46,491,269) -57.6% (47,041,484) -56.5% $550, % (202,738) -3.3% ($318,040) -4.6% 115, % Bad Debt ($3,705,950) -4.6% (3,816,476) -4.6% $110, % (168,949) -2.7% ($271,511) -3.9% 102, % Charity ($3,111,243) -3.9% (3,258,129) -3.9% $146, % (4,083,713) -65.9% (4,509,674) -65.0% 425, % Total contractual Allowances (53,308,462) -66.0% (54,116,088) -65.0% $807, % 2,115, % 2,426, % (311,378) 0.9% Net patient service revenue 27,448, % 29,117, % ($1,669,495) 1.0% 16, % 21, % (4,568) 0.0% Other revenue $291, % 254, % $37, % 2,131, % 2,447, % (315,946) 0.9% Total operating revenues 27,740, % 29,372, % ($1,632,109) 0.9% Expenses 981, % 1,012, % (31,162) -4.7% Salaries and wages 12,198, % 12,146, % $52, % 217, % 184, % 33, % Benefits 2,567, % 2,209, % $357, % 245, % 147, % 97, % Contract labor 2,371, % 1,767, % $603, % 222, % 231, % (9,294) -1.0% Physician fees 2,620, % 2,775, % ($155,746) 0.0% 11, % 23, % (12,000) 0.4% Professional Fees-Non Medical 247, % 282, % ($35,224) 0.1% 179, % 278, % (98,279) 3.0% Supplies 2,503, % 3,337, % ($834,692) 2.3% 170, % 130, % 40, % Purchased Services-Non-Medical 1,753, % 1,565, % $187, % 17, % 36, % (18,778) 0.7% Repairs/maintenance 312, % 435, % ($122,472) 0.4% 46, % 38, % 8, % Rents & Leases 546, % 464, % $82, % 37, % 39, % (1,847) -0.2% Utilities 521, % 469, % $52, % 86, % 49, % 37, % Insurance 778, % 593, % $184, % 18, % 7, % 11, % Licenses & Taxes 80, % 91, % ($11,411) 0.0% 7, % 4, % 2, % Interest expense 183, % 55, % $127, % 1, % 6, % (4,287) 0.2% Dues & Subscriptions 34, % 73, % ($39,043) 0.1% 28, % 11, % 17, % Travel & Training 270, % 133, % $136, % 14, % 20, % (5,914) 0.2% Other Operating Expense 168, % 242, % ($74,007) 0.2% 28, % 21, % 6, % Depreciation and amortization 362, % 261, % $100, % 2,316, % 2,242, % 73, % Total operating expenses 27,520, % 26,906, % $613, % (184,458) -8.7% 205, % (389,914) 17.2% Income (Loss) From Operations 219, % 2,465, % ($2,245,509) 7.7% 3, % 7, % (4,874) 0.2% Investment income 81,988 95,405 ($13,417) 0.0% (181,382) -8.5% 213, % (394,789) 17.2% Excess/(deficit) of revenues over expense 301, % 2,560, % ($2,258,926) 7.6% ($181,382) $213,407 ($394,789) Increase/(Decrease) in net assets $301,959 $2,560,885 ($2,258,926) 1

3 Unaudited Audited Audited Audited $ Change % Change $ Change % Change $ Change % Change ASSETS 6/30/2011 6/30/2010 6/30/2009 6/30/2008 Current Assets. Cash $ 2,459,280 $ 10,084,589 $ 2,426,370 $ 637,096 $ (7,625,309) % $ 32, % $ 1,822, % Short-term Investments 7,044, , , ,009 6,828, % 6,820, % 6,328, % Total Cash and Equivalents 9,503,371 10,299,871 2,649,672 1,366,827 (796,500) -7.73% 6,853, % 8,150, % Patient Accounts Receivable 17,447,578 17,191,413 19,616,292 11,176, , % (2,168,714) % 6,271, % Accounts Receivable Reserves (12,356,485) (12,268,404) (14,025,964) (7,879,573) (88,081) 0.72% 1,669, % (4,476,912) 56.82% Net Accounts Receivable 5,091,093 4,923,009 5,590,328 3,296, , % (499,235) -8.93% 1,794, % Inventory 714, , , ,891 32, % 52, % 50, % Other Assets (Includes prepaids & est. third party receivables) 694,993 13,872 2,000,250 2,499, , % (1,305,257) % (1,804,089) % Total Other Assets 1,409, ,141 2,662,999 3,163, , % (1,253,020) % 4,416, % Fixed Assets Total Current Assets 16,004,443 15,919,021 10,902,999 7,827,556 85, % 5,101, % 8,176, % Land 187, , , , % % % Buildings 1,185,395 1,179,900 1,165,429 1,158,926 5, % 19, % 26, % Capital Equipment 3,271,312 2,854,762 2,156,669 2,046, , % 1,114, % 1,224, % Total Plant & Equipment 4,644,462 4,222,417 3,509,853 3,393, , % 1,134, % 1,251, % Accumulated Depreciation (2,487,940) (2,280,702) (1,996,824) (1,745,131) (207,238) 9.09% (491,116) 24.59% (742,809) 42.56% Net Fixed Assets 2,156,522 1,941,715 1,513,029 1,648, , % 643, % 508, % TOTAL ASSETS $ 18,160,965 $ 17,860,736 $ 12,416,028 $ 9,475,610 $ 300, % $ 5,744, % 8,685, % LIABILITIES AND RETAINED EARNINGS Current Liabilities Accounts Payable $ 1,554,683 $ 964,677 $ 1,286,394 $ 1,160,611 $ 590, % $ % $ (1,160,611) % Accrued Payroll & Benefits 1,564,842 1,116, , , , % 641, % 744, % Accrued Other Liabilities 119, , ,049 30,685 (424,627) % (473,618) % 88, % Estimated Third Party Settlements 1,990,905 1,845,207-74, , % 1,990, % 1,916, % Long-Term Liabilities PALO VERDE HOSPITAL COMPARATIVE BALANCE SHEETS - BOARD REPORT DATES AS INDICATED Total Current Liabilities 5,229,861 4,469,963 2,802,779 2,086,312 (69,232) -1.55% 2,427, % 3,143, % City Loan , , % (250,000) % (500,000) % Mortgage 739, , , ,562 (36,814) -4.74% (91,052) % (181,030) % Capitalized Leases 729, ,964 74, ,894 (19,570) -2.61% 655, % 557, % Other Long-Term Liability - 42,792 42,236 - (42,792) % (42,236) % % Total Long-Term Liabilities 1,468,926 1,568,102 1,197,032 1,592,456 (99,176) -6.32% 271, % (123,530) -7.76% TOTAL LIABILITIES 6,698,787 6,038,065 3,999,811 3,678,768 (168,408) -2.79% 2,698, % 3,020, % 2 RETAINED EARNINGS 11,462,178 11,822,671 8,416,217 5,783,120 (360,493) -3.05% 3,045, % 5,679, % TOTAL LIABILITIES AND RETAINED EARNINGS $ 18,160,965 $ 17,860,736 $ 12,416,028 $ 9,475,610 $ (528,901) -2.96% $ 5,744, % 8,685, %

4 PALO VERDE HOSPITAL KEY STATISTICS DATES AS INDICATED Fiscal 2011 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Average Daily Census Patient Days Discharges Average Length of Stay Newborn Days Deliveries Emergency Visits Admitted through ER % Admitted through ER 8.0% 7.6% 8.3% 7.9% 10.3% 9.6% 7.8% 6.9% 8.0% 9.2% 9.2% 8.3% Surgery Cases: Inpatient Outpatient Endoscopic Procedures Total Surgery Cases Adjusted Patient Days ,108 1,161 1,450 1, , ,025 3

5 Palo Verde Hospital Summary of Capital Purchases PVH Fiscal Year - July 1 through June 30 Fiscal Years as Indicated Summary of Capital Assets Total Buildings 23,004 5, , ,315 Fixed Equipment 10, ,530 5, ,961 Computer Software 26,488-29, ,776 Computer Equipment ,112 89,112 Major Equipment 358, ,953 79, ,353 1,106,494 1,808,582 Total 418, , , ,883 1,367,860 2,874,745 Summary Total Capital Purchased $ 274,972 $ 44,188 $ 109,226 $ - $ 465,660 $ 894,045 Capital Financed $ 143,816 $ 76,800 $ - $ 857,883 $ 902,201 $ 1,980,700 Total $ 418,788 $ 120,988 $ 109,226 $ 857,883 $ 1,367,860 $ 2,874,745 Detail Flooring 23,004 5,035 Signs and Front Door 10,452 Time and Attendance 13,738 Radiology Dictation 12,750 Hill-Rom Beds & Stretchers 40,634 19,184 Defibrillators 35,638 IV Pumps 143,816 Chiller Compressor 26,628 Chiller Replacement 31,450 Nurse Call - Addition 10,776 Blood Gas Machine 7,670 IT Server & PCs 7,144 Billi Light 6,300 Epidural Pumps 8,763 Patient Room Furniture 18,139 Ultrasound 76,800 Steris Equipment 75,342 Other equipment 21,886 19,969 4,596 Additional Software 29,288 CT Scanner & Mobile Trailer 710,530 Evotech Scope 68,904 Steris Steam Sterilizer 42,300 Steris Washer/Disenfector 36,149 Water Lines Replaced 23,276 Roof Repairs 143,000 PACS (Dell) Workstatation 16,801 Switches 48,484 Servers 16,755 UPS Unit 7,072 Migrator for Exchange 2,306 Ice Maker w/storage 3,673 Electronic Fetal Monitor 31,337 Newborn Hearing Screening/Natus Medical 22,453 Biomerieux/ Vitek 2 compact 15 32,462 Siemens CA-560 Coagulation Analyzer 22,325 Phone System/ Xeta Tech 54,000 Recliners for patient rooms 7,876 Pharmacy Pumps 15,324 Bariatric Power Lift recliner chair 3,828 Satellite Phone (Disaster Prep) 1,490 Bed Replacements (25) 157,500 Mindray Cardiac Monitors 223,000 X-Ray Digitizer 15,290 Endoscope System 164,339 Hysteroscope 6,060 Bronchoscope 11,860 Fluid/ Blanket Warmer 4,229 10, 4" Swing Arm TVs 2,723 Lanier Copiers 70,484 I.S. Upgrade & EMR (Phase One) 236,496 Portable Air Conditioner 12000BTU 4,004 Amcot Cooling Tower 19,415 Totals 418, , , ,883 1,367,861 - Note: Some of the capital listed in 2010 and 2011 has been approved by the board but may not be completed yet. 4

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