orthwestern Memorial Health Care and Subsidiaries Consolidated Balance Sheets in Thousands August 31 2018 2017 407,249 $ 51,998 258,463 30.685 148,848 136,352 Assets Current assets Cash and cash equivalents Short-term investments Current portion of investments, including assets limited as to use Patient accounts receivable, net of estimated allowances for uncollectible accounts of $252,353 at August 31, 2018 and $223,411 at August 31, 2017 Current portion of pledges and grants receivable, net Current portion of insurance recoverable Inventories Other current assets Total current assets Investments, including assets limited as to use, Jess current portion Property and equipment, at cost: Land Buildings Equipment and furniture Construction in progress Less accumulated depreciation 769,567 16,107 12.612 71,565 131,284 1,609,260 716,277 24,561 14,186 64,443 154,752 1,399,719 5,980,955 5,490,526 353,975 347,036 3.970,145 3,465,273 1,353,766 1,166,884 126,535 539 340 5,804,421 5,518,533 2,221.6672.059.946 3,582,754 3,458,587 Prepaid pension cost Pledges and grants receivable, less current portion Insurance recoverable, less current portion Other assets, net Total assets 180,063 118,562 44,856 35,770 89,224 69,706 175,739 153,452 $11,662,851 $ 10.726,322 August 31 2018 20 = SO Liabilities and net assets Current liabilities: Accounts payable Accrued salaries and benefits Grants and academic support payable, current portion Accrued expenses and other current liabilities Due to third-party payors Current accrued liabilities under self-insura Current maturities of long-term debt Short-term debt Total current liabilities 239,682 $ 285,043 33,932 130,799 545,759 105,659 24,571 27,466 1,392,911 230,588 314,163 38.753 115.254 434,965 9 4.256 30.239 85 8 7,299 1,345,517 des 1,394,396 1,324,776 E Long-term debt, less current maturities Accrued liabilities under self-insurance pro current portion Grants and academic support payable, less curre Interest rate swaps Other liabilities Total liabilities 541,589 76,954 73,350 150,502 3,629,702 495,709 7 9.469 112,586 1 43,428 3,501,485 Net assets: Unrestricted: Undesignated Board-designated Non-controlling interest in consolidated venture Total unrestricted Temporarily restricted Permanently restricted Total net assets Total liabilities and net assets 7,364,425 6.602,984 242,870 229.455 626 (3,599) 7,607,921 6.828.840 242,596 220,917 182,632 175,080 8,033,149 7.224.837 $ 11,662,851 $ 10.726,322 - See accompanying notes to the consolidated financial statements. Northwestern Memorial HealthCare and Subsidiaries Consolidated Statements of Operations and Changes in Net Assets (In Thousands) Year Ended August 31 2018 2017 S 5,053,132 $ 4,749.433 175,5161202.047 Revenue Net patient service revenue Provision for uncollectible accounts Net patient service revenue after provision for uncollectible accounts Rental and other revenue Net assets released from donor restrictions and federal and state Total revenue 4,877,616 313,757 35,290 5,226,663 4,547,386 256.362 2 7.248 4.830,996 Expenses Salaries Employee benefits Supplies Purchased services Depreciation and amortization Insurance Rent and utilities Repairs and maintenance Interest Illinois Hospital Assessment Other Total expenses Operating income Nonoperating gains (losses) Investment retum Change in fair value of interest rate swaps ent of long term debt Grants and academic support provided Other Total nonoperating gains, net Excess of revenue over expenses Net gain (loss) attributable to non-controlling interest in subsidiaries Excess of revenue over expenses attributable to NMHC and Subsidiaries 2,126,172 1,969.531 317,874 297.842 1,000,194 877.030 552,525 538.642 310,948 287.149 112,834 104.578 100,814 91.307 101,960 88.331 41,027 44,106 110,339 103,362 180,926 127.949 4.955,6134.529.827 271,050 301.169 490,971 31,353 (23,990) (34,307) 9,846 473,873 744,923 655.269 37,521 (216) (20.172) 9.291 681.693 982.862 775 (703) $ 744,148 $ 983.565 100% | 69 | DE Northwestern Memorial Health Care and Subsidiaries Consolidated Statements of Operations and Changes in Net Assets (continued) (In Thousands) Year Ended August 31 2018 Non- Controlling controlling Total Total Controlling controlling 7 75 $ $ (703) 982,862 $ 983,565 6,2796 ,279 Unrestricted net assets Excess (deficiency) of revenue over expenses Net assets released from restrictions used for property and equipment Postretirement-benefit-related changes other than net periodic Distribution to non-controlling interest Other Increase (decrease) in unrestricted net assets $ 744,923 $ 744,148 S 7,6727,672 33.863 33,863 (1.243) (6,134) (10.827) 779.081 7 74,856 6 4,884 (1.213) ( 785 64,884 (785) (313) 1,052,927 4.693 (446) 1,054,282 4,225 (1,355) 19,373 15,389 49,373 15.389 44,892 14,051 4 4,892 14,051 Temporarily restricted net assets Contributions Investment retum Net assets released from restrictions used for Operating expenses, charity care, research and education Property and equipment additions Change in fair value of split-interest agreements Other Increase in temporarily restricted net assets (32,208) (7,672) 411 (3,614) 21,679 (32,208) 7.672) 411 (3,614) 21.679 (34.859) (6,279) 147 (8 804 (34,859) (6,279) 147 (8.804) 9.148 11 6,403 6,403 5,609 Permanently restricted net assets Contributions Change in fair value of split-interest agreements Other Increase in permanently restricted net assets $25 624 7.552 624 -552 6.785 13.169 6.785 13 160 7 Change in net assets Net assets, beginning of period Net assets, end of period 808,312 7.224,837 $8,033,149 804,087 7 ,228,436 $ 8,032,523 S 4,225 (3,599) 6 26 1,075,244 6.149,593 $ 7.224,837 1,076,599 6,151,837 $ 7,228,436 (1,355) (2,244) (3.599) $ See accompanying notes to consolidated financial statements. + 100% B8 Consolidated Statements of Cash Flows (In Thousands) Year Ended August 31 2018 2017 808,312 $ 1.075.244 (33.863) (31,353) 23,990 (64,884) (37,521) 216 (492,730) (657,573) Operating activities Change in net assets Adjustments to reconcile change in net assets to net cash provided by operating activities: Postretirement benefit-related changes other than net periodic pension cost Change in fair value of interest rate swaps Loss on extinguishment of long-term debt Net unrestricted realized investment return and net change in unrestricted and restricted unrealized investment gains/losses Restricted contributions, change in fair value of split interest agreements, and realized investment retum Depreciation and amortization Provision for uncollectible accounts Changes in operating assets and liabilities: Patient accounts receivable Due to third-party payors Grants and academic support payable Other operating assets and liabilities Net cash provided by operating activities (70,342) 310.948 175,516 (63.170) 287.149 202,047 (228,806) 115,152 (7.336) (58,669) 510,819 (318,552) 29,161 (31.468) (38,764) 381.885 Investing activities Purchase of investments Sale of investments Net unrestricted realized investment retur Capital expenditures, net Net cash used in investing activities (2,028,729) 1,791,936 205,285 (432.084) (463,592) (2.501,222) 2,456,759 194,902 (512.804) (362,365) 45,000 87,299 Financing activities Proceeds from line of credit Proceeds from commercial paper Proceeds from issuance of long-term debt Payments of commercial paper Payments of line of credit Payments of long-term debt Restricted contributions, change in fair value of split interest agreements and realized investment retum Net cash provided by financing activities 790,240 (59,833) (699.190) (104,750) (69.939) 70.342 101.559 63.170 20.780 Net increase in cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of the period 145,786 258,463 407,249 40,300 218,163 258,463 $ See accompanying notes to consolidated financial statements Benchmark - Budget Presentation For this assignment, create a PowerPoint presentation that addresses the following: Imagine you are the director of Medical Imaging department in Northwest Memorial hospital and are tasked with presenting to the C-Suite about your department's operating budget. You need to describe the department priorities and capital investments priorities. Be sure to include the following in your presentation: 1. Explain how you would prioritize the capital investments. 2. What was your methodology in producing the budget and why? 3. What was your role as the director in producing the budget? The PowerPoint presentation should consist of 12-15 sides, not including the title slide and reference slide. Images may be included in the presentation il l ow for this presentation. Save images as small files. orthwestern Memorial Health Care and Subsidiaries Consolidated Balance Sheets in Thousands August 31 2018 2017 407,249 $ 51,998 258,463 30.685 148,848 136,352 Assets Current assets Cash and cash equivalents Short-term investments Current portion of investments, including assets limited as to use Patient accounts receivable, net of estimated allowances for uncollectible accounts of $252,353 at August 31, 2018 and $223,411 at August 31, 2017 Current portion of pledges and grants receivable, net Current portion of insurance recoverable Inventories Other current assets Total current assets Investments, including assets limited as to use, Jess current portion Property and equipment, at cost: Land Buildings Equipment and furniture Construction in progress Less accumulated depreciation 769,567 16,107 12.612 71,565 131,284 1,609,260 716,277 24,561 14,186 64,443 154,752 1,399,719 5,980,955 5,490,526 353,975 347,036 3.970,145 3,465,273 1,353,766 1,166,884 126,535 539 340 5,804,421 5,518,533 2,221.6672.059.946 3,582,754 3,458,587 Prepaid pension cost Pledges and grants receivable, less current portion Insurance recoverable, less current portion Other assets, net Total assets 180,063 118,562 44,856 35,770 89,224 69,706 175,739 153,452 $11,662,851 $ 10.726,322 August 31 2018 20 = SO Liabilities and net assets Current liabilities: Accounts payable Accrued salaries and benefits Grants and academic support payable, current portion Accrued expenses and other current liabilities Due to third-party payors Current accrued liabilities under self-insura Current maturities of long-term debt Short-term debt Total current liabilities 239,682 $ 285,043 33,932 130,799 545,759 105,659 24,571 27,466 1,392,911 230,588 314,163 38.753 115.254 434,965 9 4.256 30.239 85 8 7,299 1,345,517 des 1,394,396 1,324,776 E Long-term debt, less current maturities Accrued liabilities under self-insurance pro current portion Grants and academic support payable, less curre Interest rate swaps Other liabilities Total liabilities 541,589 76,954 73,350 150,502 3,629,702 495,709 7 9.469 112,586 1 43,428 3,501,485 Net assets: Unrestricted: Undesignated Board-designated Non-controlling interest in consolidated venture Total unrestricted Temporarily restricted Permanently restricted Total net assets Total liabilities and net assets 7,364,425 6.602,984 242,870 229.455 626 (3,599) 7,607,921 6.828.840 242,596 220,917 182,632 175,080 8,033,149 7.224.837 $ 11,662,851 $ 10.726,322 - See accompanying notes to the consolidated financial statements. Northwestern Memorial HealthCare and Subsidiaries Consolidated Statements of Operations and Changes in Net Assets (In Thousands) Year Ended August 31 2018 2017 S 5,053,132 $ 4,749.433 175,5161202.047 Revenue Net patient service revenue Provision for uncollectible accounts Net patient service revenue after provision for uncollectible accounts Rental and other revenue Net assets released from donor restrictions and federal and state Total revenue 4,877,616 313,757 35,290 5,226,663 4,547,386 256.362 2 7.248 4.830,996 Expenses Salaries Employee benefits Supplies Purchased services Depreciation and amortization Insurance Rent and utilities Repairs and maintenance Interest Illinois Hospital Assessment Other Total expenses Operating income Nonoperating gains (losses) Investment retum Change in fair value of interest rate swaps ent of long term debt Grants and academic support provided Other Total nonoperating gains, net Excess of revenue over expenses Net gain (loss) attributable to non-controlling interest in subsidiaries Excess of revenue over expenses attributable to NMHC and Subsidiaries 2,126,172 1,969.531 317,874 297.842 1,000,194 877.030 552,525 538.642 310,948 287.149 112,834 104.578 100,814 91.307 101,960 88.331 41,027 44,106 110,339 103,362 180,926 127.949 4.955,6134.529.827 271,050 301.169 490,971 31,353 (23,990) (34,307) 9,846 473,873 744,923 655.269 37,521 (216) (20.172) 9.291 681.693 982.862 775 (703) $ 744,148 $ 983.565 100% | 69 | DE Northwestern Memorial Health Care and Subsidiaries Consolidated Statements of Operations and Changes in Net Assets (continued) (In Thousands) Year Ended August 31 2018 Non- Controlling controlling Total Total Controlling controlling 7 75 $ $ (703) 982,862 $ 983,565 6,2796 ,279 Unrestricted net assets Excess (deficiency) of revenue over expenses Net assets released from restrictions used for property and equipment Postretirement-benefit-related changes other than net periodic Distribution to non-controlling interest Other Increase (decrease) in unrestricted net assets $ 744,923 $ 744,148 S 7,6727,672 33.863 33,863 (1.243) (6,134) (10.827) 779.081 7 74,856 6 4,884 (1.213) ( 785 64,884 (785) (313) 1,052,927 4.693 (446) 1,054,282 4,225 (1,355) 19,373 15,389 49,373 15.389 44,892 14,051 4 4,892 14,051 Temporarily restricted net assets Contributions Investment retum Net assets released from restrictions used for Operating expenses, charity care, research and education Property and equipment additions Change in fair value of split-interest agreements Other Increase in temporarily restricted net assets (32,208) (7,672) 411 (3,614) 21,679 (32,208) 7.672) 411 (3,614) 21.679 (34.859) (6,279) 147 (8 804 (34,859) (6,279) 147 (8.804) 9.148 11 6,403 6,403 5,609 Permanently restricted net assets Contributions Change in fair value of split-interest agreements Other Increase in permanently restricted net assets $25 624 7.552 624 -552 6.785 13.169 6.785 13 160 7 Change in net assets Net assets, beginning of period Net assets, end of period 808,312 7.224,837 $8,033,149 804,087 7 ,228,436 $ 8,032,523 S 4,225 (3,599) 6 26 1,075,244 6.149,593 $ 7.224,837 1,076,599 6,151,837 $ 7,228,436 (1,355) (2,244) (3.599) $ See accompanying notes to consolidated financial statements. + 100% B8 Consolidated Statements of Cash Flows (In Thousands) Year Ended August 31 2018 2017 808,312 $ 1.075.244 (33.863) (31,353) 23,990 (64,884) (37,521) 216 (492,730) (657,573) Operating activities Change in net assets Adjustments to reconcile change in net assets to net cash provided by operating activities: Postretirement benefit-related changes other than net periodic pension cost Change in fair value of interest rate swaps Loss on extinguishment of long-term debt Net unrestricted realized investment return and net change in unrestricted and restricted unrealized investment gains/losses Restricted contributions, change in fair value of split interest agreements, and realized investment retum Depreciation and amortization Provision for uncollectible accounts Changes in operating assets and liabilities: Patient accounts receivable Due to third-party payors Grants and academic support payable Other operating assets and liabilities Net cash provided by operating activities (70,342) 310.948 175,516 (63.170) 287.149 202,047 (228,806) 115,152 (7.336) (58,669) 510,819 (318,552) 29,161 (31.468) (38,764) 381.885 Investing activities Purchase of investments Sale of investments Net unrestricted realized investment retur Capital expenditures, net Net cash used in investing activities (2,028,729) 1,791,936 205,285 (432.084) (463,592) (2.501,222) 2,456,759 194,902 (512.804) (362,365) 45,000 87,299 Financing activities Proceeds from line of credit Proceeds from commercial paper Proceeds from issuance of long-term debt Payments of commercial paper Payments of line of credit Payments of long-term debt Restricted contributions, change in fair value of split interest agreements and realized investment retum Net cash provided by financing activities 790,240 (59,833) (699.190) (104,750) (69.939) 70.342 101.559 63.170 20.780 Net increase in cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of the period 145,786 258,463 407,249 40,300 218,163 258,463 $ See accompanying notes to consolidated financial statements Benchmark - Budget Presentation For this assignment, create a PowerPoint presentation that addresses the following: Imagine you are the director of Medical Imaging department in Northwest Memorial hospital and are tasked with presenting to the C-Suite about your department's operating budget. You need to describe the department priorities and capital investments priorities. Be sure to include the following in your presentation: 1. Explain how you would prioritize the capital investments. 2. What was your methodology in producing the budget and why? 3. What was your role as the director in producing the budget? The PowerPoint presentation should consist of 12-15 sides, not including the title slide and reference slide. Images may be included in the presentation il l ow for this presentation. Save images as small files
