Actual I >Fixed Bud11:et I Variance I 11 Date Actual 1 Date Fixed J Date Variance Budget Operating revenues: Gross patient service revenue: Inpatient revenue 7,540,139 7,970,410 (430,271) -5.4% 22,047,478 23,397,002 (1,349,524) -5.8% 23,524,141-6.3% Outpatient revenue 17,436,700 16,411,276 1,025,424 6.2% 46,956,921 48,175,037 (1,218,116) -2.5% 42,981,507 9.2% Total patient service charges 24,976,839 24,381,686 595,153 2.4% 69,004,399 71,572,039 (2,567,640) -3.6% 66,505,648 3.8% Less: Charity Care 577,173 1,147,587 (570,414) -49.7% 1,854,835 3,368,722 (1,513,887) -44.9% 1,974,640-6.1% Provision for bad debt, net 957,524 366,812 590,712 161.0% 2,856,059 1,076,772 1,779,287 165.2% 2,292,370 24.6% Contractual adjustments 15,363,693 15,608,831 (245,138) -1.6% 42,710,568 45,819,472 (3,108,904) -6.8% 41,834,122 2.1% Net patient service revenue 8,078,449 7,258,456 819,993 11.3% 21,582,937 21,307,073 275,864 1.3% 20,404,515 5.8% Capitation Revenue 0.0% 0.0% 0.0% Other Operating Revenue (15,586) 56,381 (71,967) -127.6% 207,770 165,506 42,264 25.5% 238,310-12.8% Net Assets Released from Restrict 31,886 31,886 100.0% 31,886 31,886 100.0% 100.0% Total operating revenues 8,094,749 7,314,837 779,912 10.7% 21,822,593 21,472,579 350,014 1.6% 20,642,825 5.7% Operating expenses: Salaries and Wages 2,629,320 2,504,586 124,734 5.0% 7,222,315 7,352,168 (129,853) -1.8% 7,293,759-1.0% Employee Benefits 699,380 721,225 (21,845) -3.0% 2,082,644 2,117,148 (34,504) -1.6% 1,879,440 10.8% Non-Salary: Medical surgical supplies 463,875 384,225 79,650 20.7% 1,232,238 1,127,887 104,351 9.3% 1,194,337 3.2% Imaging supplies 7,889 (21) 7,910-37666.7% 37,358 (62) 37,420-60354.8% 100.0% Lab supplies 315,749 171,484 144,265 84.1% 1,041,970 503,389 538,581 107.0% 505,746 106.0% Pharmaceutical 480,678 525,128 (44,450) -8.5% 1,144,251 1,541,505 (397,255) -25.8% 1,370,195-16.5% Other medical related supplies 31,255 8,963 22,292 248.7% 81,550 26,311 55,239 209.9% 26,520 207.5% Cardiac supplies 130,083 101,640 28,443 28.0% 279,336 298,362 (19,026) -6.4% 309,466-9.7% Environmental supplies 28,139 14,343 13,796 96.2% 78,405 42,104 36,301 86.2% 40,506 93.6% linen supplies 40,066 423 39,643 9371.9% 116,893 1,242 115,651 9311.7% 1,878 6124.3% Dietary supplies 44,143 80,597 (36,454) -45.2% 181,206 236,592 (55,386) -23.4% 237,762-23.8% Other general supplies 51,619 138,625 (87,006) -62.8% 135,218 406,935 (271,717) -66.8% 302,962-55.4% Total Supplies Expense 1,593,498 1,425,407 168,091 11.8% 4,328,425 4,184,265 144,160 3.4% 3,989,373 8.5% Purchased and contracted services 377,254 327,592 49,662 15.2% 823,116 961,647 (138,531) -14.4% 951,188-13.5% Repairs and maintenance 506,173.29 398,649.00 107,524.29 27.0% 1,376,901.55 1,170,227.00 206,674.55 17.7% 1,200,039.70 14.7% Purchased Labor 183,315.44 42,995.00 140,320.44 326.4% 366,490.39 126,211.00 240,279.39 190.4% 157,747.76 132.3% Medical professional fees 127,651.67 136,987.00 (9,335.33) -6.8% 418,329.99 402,123.00 16,206.99 4.0% 423,102.49-1.1%
Date.Fixed Budget I Date Variance Other non-sa/a ry expense 14,850.86 33,530.00 (18,679.14) -55.7% 63,933.99 98,428.00 (34,494.01) -35.0% 128,568.84-50.3% Rental expense 34,647.24 28,875.00 5,772.24 20.0% 93,824.05 84,762.00 9,062.05 10.7% 71,446.64 31.3% Utility expense 81,381.06 98,107.00 (16,725.94) -17.0% 275,772.32 287,991.00 (12,218.68) -4.2% 341,676.70-19.3% Insurance expense 34,289.96 30,295.00 3,994.96 13.2% 108,071.94 88,931.00 19,140.94 21.5% 42,438.79 154.7% Seminars/ meals/ travel 19,643.33 20,315.00 (671.67) -3.3% 42,667.34 59,639.00 (16,971.66) -28.5% 59,108.85-27.8% Special Events 356.78 356.78 100.0% 1,013.86 1,013.86 100.0% 100.0% Marketing expense 20,236.47 25,833.00 (5,596.53) -21.7% 46,874.05 75,833.00 (28,958.95) -38.2% 48,135.42-2.6% Advertising 0.0% 0.0% 0.0% Telecommunication expense 40,290.78 14,343.00 25,947.78 180.9% 92,948.03 42,103.00 50,845.03 120.8% 4,876.13 1806.2% Taxes and licenses expense 5,835.00 16,047.00 (10,212.00) -63.6% 9,732.45 47,107.00 (37,374.55) -79.3% 45,592.31-78.7% Postage/ Mailing cost 8,160.33 8,254.00 (93.67) -1.1% 38,778.71 24,230.00 14,548.71 60.0% 27,048.04 43.4% Other non-salary expense 87,803.80 95,130.00 (7,326.20) -7.7% 181,228.98 279,261.00 (98,032.02) -35.1% 280,247.80-35.3% Total Non-Salary 3,135,387.78 2,702,359.00 433,028.78 16.0% 8,268,108.54 7,932,758.00 335,350.54 4.2% 7,770,590.63 6.4% Income taxes 0.0% 0.0% 0.0% Depreciation and amortization 557,315.65 584,699.00 (27,383.35) -4.7% 1,668,603.36 1, 716,376.00 (47,772.64) -2.8% 1,566,098.74 6.5% Interest Expense 75,072.40 79,512.00 (4,439.60) -5.6% 225,217.20 233,404.00 (8,186.80) -3.5% 235,149.69-4.2% Sentara Corporate support services 36,994.92 36,994.92 0.0% 110,984.76 110,984.76 0.0% 100.0% Sentara Hospital support services 9,706.00 10,647.36 (941.36) -8.8% 26,683.00 31,581.86 (4,898.86) -15.5% 100.0% Total operating expenses 7,143,176.53 6,640,023.28 503,153.25 7.6% 19,604,555.25 19,494,420.62 110,134.63 0.6% 18,745,038.73 4.6% Excess of operating revenues over expense_s 951,572.33 674,813.72 276,758.61 41.0% 2,218,037.43 1,978,158.38 239,879.05 12.1% 1,897,786.46 16.9%
Sentara Halifax Regional Hos ital CURRENT MONTH PRIOR YEAR $CHANGE,. 10101 General Checking Account 34,217,873.55 5,316,428.80 28,901,444. 75 10113 Health/Dependent Care Cking Acct 10151 Payroll Checking Account (3,248.69) (24,566.84) 21,318.15 10201 Escrow Resident Funds 10250 Escrow - Restricted Funds 10300 Petty Cash 3,430.00 3,180.00 250.00 10404 Other Cash Equivalent Investment 10408 Sinking Fund 2007 809,068.68 345,931.16 463,137.52 Cash And Temporary Investments Total 35,027,123.54 5,640,973.12 29,386,150.42 11010 Refund Clearing 11020 Patient Accts Cash Clearing 116,728.74 (5,001.97) 121,730.71 11030 Returned Check Clearing 11271 Other Insurance Pt AR 11311 Hospital Patient Accts Receivable 28,149,343.57 27,013,683.18 1,135,660.39 11410 Physician Group Pt AR 11450 DME Pt AR 189,277.73 (189,277.73) 11475 Hospice Pt AR 282,565.58 317,977.84 (35,412.26) 11476 Homecare Pt AR 784,232.91 799,938.88 (15, 705.97) 11701 Allowance for Patient Bad Debt (5,117,435.10) (1,853,884.00) (3,263,551.10) 11780 Allowance-Physician Grps BO 11801 lnpt Bad Debt Writeoffs 3,639,866.10 103,518,801.90 (99,878,935.80) 11802 Outpt Bad Debt Writeoffs (103,518,801.90) 103,518,801.90 11901 Allowance-Charity Care (3,044,687.40) (1,198,384.00) (1,846,303.40) 11940 Allowance for Contractuals (14,885,280.52) (14,968,404.43) 83,123.91 11980 Allow Contractuals-Physician Grp Patient Receivables, Net Total 9,925,333.88 10,295,203.23 (369,869.35) Premium/Capitation Recivables Total 0.00 0.00 0.00 13734 Contributions Receivable 13781 Ace Interest-Cash Equiv lnvestmts 698,377.00 (698,377.00) 13788 Interest Receivable - lntracomp-curr 13790 Miscellaneous Receivables 1,535,291.58 152,874.30 1,382,417.28 13820 Retro Rec Medicare 48,422.92 735,239.86 (686,816.94) 13830 Retro Rec VA Medicaid 32,568.43 32,568.43 Other Receivables Total 1,616,282.93 1,586,491.16 29,791.77 14103 Due from Dominion Health Group-Current 26,253.16 55,207.79 (28,954.63) 14107 Due from Halifax Hospital - Current 14109 Due from Halifax Woodview/HRLTC - Current 323,037.88 274,720.90 48,316.98 14110 Due from Halifax Meadowview/CSC - Current 164,310.63 180,625.85 (16,315.22) 14111 Due from Halifax Foundation-Current 285,999.92 167,833.03 118,166.89 14112 Due from Halifax Properties-Current 23,809.68 25,407.28 (1,597.60) 14114 Due from Halifax Prof Svcs-Current 14133 Due from DHMA - Current 221,643.00 400,314.08 (178,671.08) 14136 Due From Southside Health Svcs - Current 8,394.47 11,191.64 (2,797.17) Receivables from Affiliated Organizations Total 1,053,448. 74 1,115,300.57 (61,851.83) Current Investments Total 0.00 0.00 0.00
Sentara Halifax Regional Hos ital CURRENT MONTH PRIOR YEAR 14500 Inventory I Stock 239,477.45 226,352.69 13,124.76 14510 Med Service and Supply Inventory 316,456.39 532,830.22 (216,373.83) 14513 Operating Room Inventory 741,824.01 726,486.01 15,338.00 14514 Pharmaceutical Inventory 1,297,387.87 1,049,195.30 248,192.57 14551 Dietary Inventory 25,091.02 (25,091.02) 14554 Maintenance Inventory 51,274.95 (51,274.95) Inventories Total 2,595,145.72 2,611,230.19 (16,084.47) 14701 Prepaid Insurance 4,098.71 20,760.02 (16,661.31) 14703 Prepaid Maintenance Agreements 882,474.17 1,107,197.66 (224,723.49) 14799 Other Prepaids 1,317,509.82 1,708,739.14 (391,229.32) Prepaid Expenses Total 2,204,082.70 2,836,696.82 (632,614.12) Other Current Assets Total 0.00 0.00 0.00 Receivables from Affliated Organizations Total 0.00 0.00 0.00 Notes receivable from Optima Total 0.00 0.00 0.00 15331 SHC LT Investments 49,899,341.21 53,175,162.58 (3,275,821.37) 15364 MV Change - SHC LT Investments 1,292,762.55 1,292,762.55 Long-term investments Total 51,192,103. 76 53,175,162.58 (1,983,058.82) Board Designated Endowment Fund Total 0.00 0.00 0.00 15971 Sinking Fund 2007-Reserve 1,386,214.15 1,386,109.65 104.50 Trusteed Funds, Construction/Reserve Total 1,386,214.15 1,386, 109. 65 104.50 16001 Land 2,576,000.00 2,576,000.00 16002 Land Improvements 2,346,448.20 2,246,225.25 100,222.95 16010 Buildings 28,129,264.86 26,936,406.01 1,192,858.85 16020 Fixed Equipment 785,669.71 573,244.85 212,424.86 16030 Major Moveable Equipment 31,671,524.93 28,557,525.64 3,113,999.29 16040 Minor Equipment 2,300.00 (2,300.00) 16050 Vehicles 75,514.40 75,514.40 16099 Acquisitions Clearing (870,576.58) (870,576.58) 16115 Asset Clearing Account 186,497.75 186,497.75 16200 Leasehold Imp-A 16502 Accum Depr-Land Improvements (570,232.06) (356,045.44) (214,186.62) 16510 Accum Depr-Buildings (4,425,995.19) (3,461,929.22) (964,065.97) 16520 Accum Depr-Fixed Equipment (504,019.71) (77,504.64) (426,515.07) 16530 Accum Depr-Major Mov Equip (11,361,646.56) (6,561,503.63) (4,800,142.93) 16540 Accum Depr-Minor Equipment (797.71) 797.71 16550 Accum Depr-Vehicles (20,415.07) (20,415.07) 16700 Amort Lse Imp-A 18076 C+P Halifax Integration 1,239,991.33 (1,239,991.33) 18077 CIP - Info System-Phase 2 379,348.06 379,348.06 18079 CIP - Clarksville Building Improvement
Sentara Halifax Regional Hos ital CURRENT MONTH PRIOR YEAR 18080 CIP - Hupps Mill Renovations 18081 CIP - Ortho Joint 18,704.71 18,704.71 18082 CIP - Laboratory Renovation 28,746.10 28,746.10 18083 CIP - Downtown Property (Canopy) 18084 CIP - 20-Bed Expansion 18085 CIP - Therapy Addition-Renovation 18087 CIP - 18-Bed Addition 18088 CIP - Therapy Addition-Renovation 18089 CIP - NBN and LO Renovation 154,035.22 154,035.22 18090 CIP - East 3 Renovation 213,578.62 213,578.62 Property, Plant and Equipment, Net Total 48,812,447.39 51,673,912.44 (2,861,465.05) Land Held For Future Use At Cost Total 0.00 0.00 0.00 Deferred Tax Asset Total 0.00 0.00 0.00 19301 Startup Costs 19302 Amortization of Startup Costs 19700 Long Term Promissory Notes 842,530.14 1,072,908.50 (230,378.36) 19830 Investment in Waste Management Coop 32,708.00 32,708.00 19876 Investment in VA Solutions 574,673.00 2,935,292.00 (2,360,619.00) 19885 Investment in DHG 19970 Other Misc Long Term Assets 203,471.18 223,335.92 (19,864.74) Other Assets, Net Total 1,653,382.32 4,264,244.42 (2,610,862.10) 20100 Accts Payable/Trade-System Gen 109,455.91 1,302,043.97 (1,192,588.06) 20105 Accts Payable/Trade Accruals 980,734.25 980,734.25 20106 Accts Payable/Trade-SUA 962,024.35 (962,024.35) 20109 Accts Payable/Trade-Manual Adj 529,866.48 3,544,128.41 (3,014,261.93) 20150 Accts Pay-PLA/CIP-System Gen Accounts Payable Total 1,620,056.64 5,808,196.73 (4,188,140.09) 20310 Accrued Salaries-System Gen 1,006,452.10 (1,006,452.10) 20320 Accrued Vacation/PAL-System Gen 0.02 2,010,694.10 (2,010,694.08) 20331 Accrued Bonuses 20340 Federal Income Tax Withheld 34,940.40 (34,940.40) 20350 FICA Withheld 83,716.47 (83, 716.47) 20351 FICA Accrued 20360 State Income Tax Withheld 58,929.79 (58,929.79) 20371 FUTA Payable 20372 SUTA Payable 21,691.39 (21,691.39) Accrued Wages And Payroll Taxes Total 0.02 3,216,424.25 (3,216,424.23) Medical Claims Payable Total 0.00 0.00 o.oo 22114 Bonds Payable Current 2007 653,333.33 742,916.66 (89,583.33) 26880 Curr Part Pay for Capital Leases 55,716.27 208,752.25 (153,035.98) Current Portion Of Long-Term Debt Total 709,049.60 951,668.91 (242,619.31)
24101 Due to Sentara Hospitals-Current 155,378.12 155,378.12 24103 Due to Dominion Health Group-Current 24107 Due to Halifax Hospital - Current 24109 Due to Halifax Woodview/HRLTC - Current 24110 Due to Halifax Meadowview/CSC - Current 24111 Due to Halifax Foundation-Current 1.00 1.00 24112 Due to Halifax Properties - Current (14,744.42) (14,744.42) 24128 Due to S. Enterprises-Current 3,253.47 3,253.47 24133 Due to DHMA - Current 24143 Due to S. Health System-Current 22,748,921.70 1,527,045.59 21,221,876.11 24275 Due to Behavioral Hlth Svcs-Curr 1,542.80 1,542.80 Payables To Affiliated Organizations Total 22,894,352.67 1,527,045.59 21,367,307.08 23114 Accrued Interest on Bonds 2007 525,506.76 76,989.04 448,517.72 Accrued Interest Payable Total 525,506.76 76,989.04 448,517.72 25100 Deferred Revenue 103,607.45 103,607.45 Deferred Revenue Total 103,607.45 0.00 103,607.45 25525 Retro Pay Medicare FY 15 679,170.99 679,170.99 Due To Third-Party Payors Total 679,170.99 0.00 679,170.99 26023 Child Support W/H 1,018.32 (1,018.32) 26030 Employee Billing Acct W/H 2,611.35 (2,611.35) 26035 LTD Physicians & Executive Deductions 26039 Flex Pre Tax Deductions 173,963.14 37,079.07 136,884.07 26042 Garnishee W/H 6.30 673.82 (667.52) 26053 Legal Resources Ded W/H 26060 Other Deductions 942.81 (2,021.20) 2,964.01 26063 Retirement Annuity Deductions 128.79 239,821.83 (239,693.04) 26069 Tax Levy W/H 26070 Health Saving Account Deductions (4,131.85) (8,777.05) 4,645.20 26083 Vol Cr Illness W/H 6,909.79 (6,909.79) 26110 Fed Income Tax Payable-Curr 150,000.00 150,000.00 26120 State Income Tax Payable-Curr 30,715.66 30,715.66 26150 Sales Tax Payable 2,908.44 3,894.62 (986.18) 26431 Reserve-Insurance Claims-Curr 819,599.87 1,394,423.00 (574,823.13) 26440 Res-Wrkmn Comp FY 94 On-Curr 233,041.97 233,041.97 26462 Accrued Medical Prof Fees 178,103.33 178,103.33 26471 Accrued Accounting Fees 9,710.81 17,530.27 (7,819.46) 26801 Resident Escrow Accounts 26830 Clinical Education Payable 5,611.00 5,611.00 26835 Contributions Payable 26850 Security Deposits Payable 26890 Other Misc Current Liabilities Other Current Liabilities Total 1,600,600.27 1,693,163.82 (92,563.55) 27114 Bonds Payable LT 2007 17,631,666.56 18,002,083.27 (370,416.71) 27115 Bonds Discount Payable LT 2007 (36,162.31) (37,581. 70) 1,419.39 28300 LT Capital Leases Payable 347.26 3,407.74 (3,060.48) Long-term debt, Excluding Current Portion Total 17,595,851.51 17,967,909.31 {372,057.80)
C.URRENT MONTH Sentara Halifax Re ional Hos PRIOR VEAR Deferred Tax Liability Total 0.00 0.00 0.00 28401 Retirement Payable-LT 3,720,750.61 {3,720,750.61) 28470 General Reserve 4,523,582.00 2,599,099.00 1,924,483.00 28499 Other Misc LT Accrued Exp 1,567,479.82 972,686.39 594,793.43 Other Long-Term Liabilities Total 6,091,061.82 7,292,536.00 (1,201,474.18) Payables To Affiliated Organizations Total 0.00 0.00 o.oo 29100 Unrestricted Net Asset Balance 101, 663,537.43 92,296,394.19 9,367,143.24 29151 Net Asset Trans to SHS from Subs {62,379.00) {62,379.00) Unrestricted Total (Add Inc and Exp Accts to Tie to Bal 101,601,158.43 92,296,394.19 9,304,764.24 29501 Special Restricted Gifts 42,291.22 42,291.22 29512 Woodview Expansion Fund 29513 Meadowview Expansion Fund 29525 Hospice Fund 29563 Bates Scholarship Fund 29564 Project PRIME 29662 Sentara Leigh Cancer Fund 29688 Crowell Library Fund Temporarily Restricted Total 42,291.22 0.00 42,291.22 Permanently Restricted Total 0.00 0.00 0.00
www.dacbond.com 888-824-2663 Sentara Healthcare, VA 1 Industrial Development Authority of Charlotte County, Virginia, Hospital Revenue Bonds (Halifax Regional Hospital, Inc.), Series 2007, $20,000,000, Dated: October 17, 2007 Series 2007 Hospital Services Fiscal Quarter Ended 12/31/2016 1 Admissions 2 Outpatient Visits 3 Emergency Department Visits 4 Patient Days (less nursery days) 5 Average Daily Census 6 Average Length of Stay 7 Outpatient Surgery 8 Case Mix Index - Medicare 9 FTE'S 964 16,396 6,578 3,733 41.02 3.81 666 1.4655 559
OPERA TING AND FINANCIAL ENVIRONMENT SENT ARA HALIFAX REGIONAL HO SPIT AL SOUTH BOSTON, VIRGINIA FISCAL YEAR-TO-DATE March 31, 2016 Volume Inpatient admissions for the fiscal year were 14 or 1.4 percent unfavorable to the prior period. Profitability Net Revenue is $1,180,000 or 5.7 percent favorable to the prior period. In addition, Operating Expenses are $860,000 or 4.6 percent unfavorable for the same fiscal period. Net Income is $2,028,000 compared to $3,774,000 last year or 2.5 percent margin on Net Revenue compared to 4.9 percent last year. Questions Contact Stewart Nelson, Chief Financial Officer, at 434-517-3183.
Halifax Regional Hospital, Inc. Hospital Revenue Bond, Series 2007 No Default Certificate Halifax Regional Hospital (Hospital) is not in default under any provisions of the Master Trust Indenture dated as of May 1, 1991, between Central Fidelity Bank and the Hospital, as supplemented by the Fomih Supplement dated as of September 1, 2007, between The Bank of New York and the Hospital. May 18, 2016 hief Financial Officer