Joseph Brant Hospital Annual Report | Page 19

Statement of Operations
Statement of Financial Position
Statement of Operations
MARCH 31 , 2016 , WITH COMPARATIVE INFORMATION FOR 2015
2016
2015
Revenues : Ministry of Health and Long-Term Care
$ 124,431,979
$ 125,654,148
Inpatient services
4,165,407
4,659,270
Outpatient services
8,086,453
7,790,449
Other income
9,969,287
12,633,154
Amortization of deferred capital contributions
1,970,008
1,463,975
relating to equipment Ex-global income
4,616,839
4,595,157
153,239,973
156,796,153
Expenses : Salaries
$
81,476,771
$
83,168,062
Employee benefits
21,532,924
20,001,990
Fees to medical staff
12,939,544
13,044,060
Drugs
6,844,477
5,889,553
Medical and surgical supplies
8,745,610
9,306,489
Other supplies and expenses
18,163,040
21,901,356
Amortization of equipment
3,965,648
3,481,361
153,668,014
156,792,871
Excess of ( expenses over revenues ) revenues over expenses
before the undernoted
( 428,041 )
3,282
Amortization of deferred capital contributions relating to building
1,478,132
1,015,717
Amortization of building
( 1,822,759 )
( 1,344,928 )
( 344,627 )
( 329,211 )
Excess of expenses over revenues $ ( 772,668 ) $ ( 325,929 )
Statement of Financial Position
2016
2015
Assets Current assets :
Cash and short-term investments
$
20,511,805
$ 23,183,883
Accounts receivable
6,330,038
7,281,637
Grant receivable from Joseph Brant
433,196
2,480,320
Hospital Foundation Due from The Joseph Brant Trust
2,547
Inventories
1,432,686
754,524
Prepaid expenses
1,495,165
1,467,106
Total current assets
30,202,890
35,170,017
Long term receivable
775,495
955,626
Interest in The Joseph Brant Trust ( note 7 ( c ))
1,298,330
1,470,668
Capital assets , net ( note 2 )
90,262,855
79,294,433
Total assets $ 122,539,570 $ 116,890,744
2016
2015
Liabilities and Net Assets Current liabilities :
Accounts payable and accrued liabilities
$
21,314,041
$ 29,305,418
Deferred revenue
10,018
9,210
Due to The Joseph Brant Trust
40,067
Current portion of obligation under
359,839
345,222
capital leases ( note 3 ) Total current liabilities
21,723,965
29,659,850
Obligation under capital leases ( note 3 )
682,867
1,042,706
Long-term liabilities ( note 4 )
11,544,435
10,855,769
Deferred capital contributions ( note 5 )
86,933,065
72,732,175
Total liabilities
$ 120,884,332
$ 114,290,500
Net assets : Invested in capital assets ( note 6 )
19,333,296
19,255,185
Unrestricted
( 17,776,388 )
( 16,925,609 )
1,556,908
2,329,576
Accumulated remeasurement gains
98,330
270,668
Total net assets
1,655,238
2,600,244
Annual Report 2015-2016 19