Annual Report 2009 - New London Hospital

2009 FINANCIAL REPORTFor Fiscal Year Ending September 30, 2009 & 2008INCOME FROM OPERATIONS 2009 2008charges to patients for servicesCare for inpatients $17,244,469 $16,341,858Services to outpatients 65,595,406 59,470,900Total amount of our charges $82,839,875 $75,812,758less government program reductions and discounts 29,580,317 27,789,931less patients who are unable to pay for our services 1,768,077 1,751,547Therefore we have received or will receive from patientsor from those paying on their behalf $51,491,481 $46,271,280Received from other sources for services incidentalto the Hospital’s operation $1,550,570 $1,341,756thus, we have received, or will receive, a total of $53,042,051 $47,613,036EXPENDITURES 2009 2008Salaries, employee benefits, and the services ofphysician specialists $33,710,121 $29,250,020Medical & surgical supplies, drugs, food, & other expenses 12,598,649 12,320,684Heat, water, and electrical services 1,011,488 714,818Insurance and interest expenses 907,837 1,071,367This year’s use of buildings and equipment 3,135,220 2,514,669Services provided to those who did not pay 1,792,455 1,580,620total costs incurred for operations $53,155,770 $47,452,178Operating income (loss) $(113,719) $160,858CONTRIBUTIONS AND INVESTMENT INCOME 2009 2008Contributions and investment income $503,549 $283,175Capital campaign contributions and pledges 247,406 2,217,334total Contributions and Investment Income $750,955 $2,500,509STATS 2009 2008Admissions $855 $854Emergency Room Visits 7,890 7,764Ambulance Trips 1,005 991Surgical Cases 2,088 1,984Imaging Exams 24,456 23,394Lab Tests 172,712 159,199Physical, Occupational and Speech Procedures 45,719 43,998Physician Practice Visits 96,957 94,690Skilled Care & Nursing Home Days 19,464 19,265CONSOLIDATED BALANCE SHEET 2009 2008Cash & other current assets $13,066,122 $11,860,272Long-term investments 7,210,300 7,504,320Property plant & equipment - net 34,516,648 25,455,434Bond funds held in escrow 195,257 9,087,660Other assets 1,488,536 1,913,025Total Assets $56,476,863 $55,820,711Currrent liabilties $8,591,016 $8,081,593Long-term debt & capital leases 1,754,500 1,501,015Bonds payable 16,650,000 17,400,000Other liabilities 2,902,173 1,686,187Total Liabilities $29,897,689 $28,668,795Net assets:Unrestricted $26,019,447 $24,986,287Temporarily restricted 185,860 1,791,762Permanently restricted 373,867 373,867Total Net Assets $26,579,174 $27,151,916total LIABILITIES & NET ASSETS $56,476,863 $55,820,711New London Hospital Annual Report 2009 21