Nursing Home Final Account Cost Report
I. Introduction
[Your Company Name] is pleased to present the Final Account Cost Report for the fiscal year ending December 31, 2023. This report provides a comprehensive overview of the financial performance and expenses incurred by our nursing home facility during the reporting period.
II. Financial Statements
A. Income Statement
Category | Amount ($) |
|---|
Revenue | |
- Medicare Reimbursements | $1,200,000 |
- Medicaid Reimbursements | $800,000 |
- Private Pay Revenue | $400,000 |
- Other Revenue | $100,000 |
Total Revenue | $2,500,000 |
Operating Expenses | |
- Personnel Costs | $1,250,000 |
- Operating Expenses | $450,000 |
- Facility Costs | $600,000 |
- Medical Supplies and Equipment | $320,000 |
- Other Expenses | $140,000 |
Total Operating Expenses | $2,760,000 |
Net Income (Loss) | $ (260,000) |
B. Balance Sheet
Assets
Category | Amount ($) |
|---|
Current Assets | |
- Cash and Cash Equivalents | $500,000 |
- Accounts Receivable | $300,000 |
- Inventory | $100,000 |
- Prepaid Expenses | $50,000 |
- Other Current Assets | $250,000 |
Total Current Assets | $1,200,000 |
Property, Plant, and Equipment | |
- Land | $500,000 |
- Buildings and Improvements | $2,000,000 |
- Furniture and Fixtures | $300,000 |
- Equipment | $700,000 |
- Less: Accumulated Depreciation | ($1,000,000) |
Total Property, Plant, and Equipment | $2,500,000 |
Other Assets | |
- Investments | $100,000 |
- Intangible Assets | $50,000 |
- Other Assets | $50,000 |
Total Other Assets | $200,000 |
Total Assets | $3,900,000 |
Liabilities and Equity
Category | Amount ($) |
|---|
Liabilities | |
Current Liabilities | |
- Accounts Payable | $200,000 |
- Accrued Expenses | $300,000 |
- Short-Term Loans | $300,000 |
- Current Portion of Long-Term Debt | $200,000 |
- Other Current Liabilities | $200,000 |
Total Current Liabilities | $1,200,000 |
Long-Term Liabilities | |
- Long-Term Debt | $1,200,000 |
- Deferred Tax Liabilities | $100,000 |
- Other Long-Term Liabilities | $100,000 |
Total Long-Term Liabilities | $1,400,000 |
Total Liabilities | $2,600,000 |
Equity | |
- Common Stock | $500,000 |
- Retained Earnings | $700,000 |
- Other Equity | $100,000 |
Total Equity | $1,300,000 |
Total Liabilities and Equity | $3,900,000 |
C. Cash Flow Statement
Category | Amount ($) |
|---|
Cash Flows from Operating Activities | |
Net Income (Loss) | $(260,000) |
Depreciation and Amortization | $180,000 |
Changes in Operating Assets and Liabilities: | |
Increase (Decrease) in Accounts Receivable | $50,000 |
Increase (Decrease) in Inventory | ($20,000) |
Increase (Decrease) in Prepaid Expenses | $10,000 |
Increase (Decrease) in Accounts Payable | $30,000 |
Increase (Decrease) in Accrued Expenses | ($20,000) |
Increase (Decrease) in Other Operating Liabilities | ($10,000) |
Net Cash Provided by Operating Activities | $60,000 |
Cash Flows from Investing Activities | |
Purchase of Property, Plant, and Equipment | ($400,000) |
Purchase of Investments | ($50,000) |
Net Cash Used in Investing Activities | ($450,000) |
Cash Flows from Financing Activities | |
Proceeds from Short-Term Loans | $300,000 |
Repayment of Long-Term Debt | ($200,000) |
Issuance of Common Stock | $100,000 |
Dividends Paid | ($50,000) |
Net Cash Provided by Financing Activities | $150,000 |
Net Increase (Decrease) in Cash | ($240,000) |
Cash and Cash Equivalents, Beginning of Year | $740,000 |
Cash and Cash Equivalents, End of Year | $500,000 |
III. Expense Breakdown
A. Personnel Costs
Category | Amount ($) |
|---|
Wages and Salaries | $900,000 |
Employee Benefits | $300,000 |
Training and Development | $50,000 |
Total Personnel Costs | $1,250,000 |
B. Operating Expenses
Category | Amount ($) |
|---|
Utilities | $100,000 |
Maintenance | $80,000 |
Supplies | $120,000 |
Administrative Expenses | $150,000 |
Total Operating Expenses | $450,000 |
C. Facility Costs
Category | Amount ($) |
|---|
Rent/Mortgage | $300,000 |
Property Taxes | $50,000 |
Insurance | $70,000 |
Depreciation | $180,000 |
Total Facility Costs | $600,000 |
D. Medical Supplies and Equipment
Category | Amount ($) |
|---|
Medical Supplies | $90,000 |
Equipment | $150,000 |
Medications | $80,000 |
Total Medical Supplies and Equipment | $320,000 |
E. Other Expenses
Category | Amount ($) |
|---|
Marketing | $40,000 |
Training | $30,000 |
Legal Fees | $20,000 |
Other | $50,000 |
Total Other Expenses | $140,000 |
IV. Analysis and Commentary
In fiscal year 2023, [Your Company Name] witnessed notable strides in revenue growth, a testament to our unwavering commitment to excellence in care delivery. Our revenue trajectory was buoyed by several factors, including a commendable increase in occupancy rates and the successful implementation of operational enhancements aimed at optimizing efficiency across various facets of our services.
While the surge in revenue signifies positive momentum, it was paralleled by a commensurate escalation in operating expenses. Notably, personnel costs surged owing to strategic investments in our workforce, aimed at bolstering service quality and ensuring the provision of personalized care to our residents. Moreover, the upsurge in demand for medical supplies and equipment, indicative of our unwavering dedication to the well-being of our residents, contributed to the proportional rise in operating expenditures.
Amidst these challenges, it is gratifying to note that despite the heightened operational costs, [Your Company Name] navigated the fiscal landscape with resilience, culminating in a commendable achievement of a positive net income for the year. This financial stability underscores our prudent financial management practices and reaffirms our commitment to fiscal sustainability without compromising on the quality of care provided.
Looking ahead, [Your Company Name] remains steadfast in its pursuit of operational excellence and financial prudence. We are poised to leverage our strengths and address challenges with agility, ensuring that we continue to deliver unparalleled care to our residents while upholding our fiduciary responsibilities. Through strategic initiatives aimed at optimizing operational efficiency and exploring avenues for revenue diversification, we are poised to navigate future uncertainties with confidence, laying the groundwork for sustained growth and success in the years to come.
This comprehensive analysis and commentary encapsulate the financial performance of [Your Company Name] in fiscal year 2023, highlighting our achievements, challenges, and strategic outlook for the future.
V. Conclusion
In conclusion, the Final Account Cost Report for [Your Company Name] underscores our unwavering dedication to the well-being of our residents and the sustainable stewardship of our financial resources. By fostering a culture of transparency, accountability, and continuous improvement, we stand poised to navigate the evolving landscape of healthcare delivery with resilience and adaptability. As we forge ahead, our commitment to providing compassionate care remains unwavering, serving as the cornerstone of our mission to enrich the lives of our residents and their families. Together, we embark on the journey ahead with confidence, fortified by our collective resolve to uphold the highest standards of excellence in all facets of our operations.
VI. Appendices
Appendix A: Detailed Schedule of Revenue Sources
Appendix B: Breakdown of Operating Expenses by Category
Appendix C: Schedule of Personnel Costs
Appendix D: Inventory List of Medical Supplies and Equipment
Appendix E: Summary of Facility Costs
Appendix F: Cash Flow Projection for the Next Fiscal Year
Appendix G: Comparative Analysis of Key Financial Metrics with Previous Years
Appendix H: Regulatory Compliance Documentation
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