Joseph Brant Hospital 2017 Annual Report JBH Annual Report 2017 final - Page 15

Statement of Operations YEAR ENDED MARCH 31, 2017, WITH COMPARATIVE INFORMATION FOR 2016 2017 2016 Revenues: Ministry of Health and Long-Term Care $ 130,106,501 $ 124,431,979 Inpatient services 4,073,112 4,165,407 Outpatient services 8,243,322 8,086,453 Other income 9,555,407 9,969,287 Amortization of deferred capital contributions relating to equipment 2,141,265 1,970,008 Ex-global income 4,696,768 4,616,839 158,816,375 153,239,973 Expenses: Salaries $ 84,549,918 $ 81,476,771 Employee benefits 23,067,613 21,532,924 Fees to medical staff 12,955,108 12,939,544 Drugs 6,780,010 6,844,477 Medical and surgical supplies 9,412,936 8,745,610 Other supplies and expenses 20,957,473 18,163,040 Amortization of equipment 3,996,365 3,965,648 161,719,423 153,668,014 Excess of expenses over revenues before the undernoted (2,903,048) (428,041) Amortization of deferred capital contributions relating to building 1,963,176 1,478,132 Amortization of building (2,338,027) (1,822,759) (374,851) (344,627) Excess of expenses over revenues $ (3,277,899) $ (772,668) Statement of Financial Position MARCH 31, 2017, WITH COMPARATIVE INFORMATION FOR 2016 2017 2016 2017 2016 Assets Current assets: Cash and short-term investments Liabilities and Net Assets Current liabilities: $ 49,070,450 $ 20,511,805 Accounts receivable 6,446,279 6,330,038 Grant receivable from Joseph Brant Hospital Foundation 1,205,335 433,196 Inventories Prepaid expenses Accounts payable and accrued liabilities $ 28,645,025 $ 21,314,041 Deferred revenue 12,329 10,018 Due to The Joseph Brant Trust 32,865 40,067 1,330,192 1,432,686 Current portion of obligation under capital leases (note 3) 375,074 359,839 1,393,792 1,495,165 Total current liabilities 29,065,293 21,723,965 Total current assets 59,446,048 30,202,890 Obligation under capital leases (note 3) 307,793 682,867 Long term receivable 808,827 775,495 Long-term liabilities (note 4) 12,107,793 11,544,435 Interest in The Joseph Brant Trust (note 7(c)) 1,398,661 1,298,330 Deferred capital contributions (note 5) 123,001,674 86,933,065 Capital assets, net (note 2) 101,306,687 90,262,855 Total liabilities TOTAL ASSETS Net assets: $ 162,960,223 $ 122,539,570 $ 164,482,553 $ 120,884,332 Invested in capital assets (note 6) 29,797,351 19,333,296 Unrestricted (31,518,342) (17,776,388) (1,720,991) 1,556,908 Accumulated remeasurement gains 198,661 98,330 TOTAL NET ASSETS (1,522,330) 1,655,238 Annual Report 2016-2017 15