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FY2014OIH UpdateOperating Revenue and Expenditures As of September 30, 2013 FY2014 FY2014 FY2013REVENUEBudget w/Carryforward Actual (As of 9/30/13)LY Actual (As of 9/30/12)$ Variance to Budget $ Variance to LY % to Budget % to LYMedicaid Patient Revenue 1,615,820$ 277,507$ 530,031$ (1,338,313)$ (252,524)$ 17%-48%Medicare Revenue 608,050$ 16,570$ 10,760$ (591,480)$ 5,810$ 3%54%Private Patient Income 1,644,500$ 417,392$ 415,110$ (1,227,108)$ 2,282$ 25%1%Patient Paid Amount 671,700$ 134,588$ 78,767$ (537,112)$ 55,822$ 20%71%Secondary Insurance 154,020$ 7,756$ 23,309$ (146,264)$ (15,552)$ 5%-67%Prior Year CPE Receipts -$ 1,017,038$ -$ 1,017,038$ 1,017,038$ 100%100%Interest Earned 12,350$ -$ 607$ (12,350)$ (607)$ 0%-100% Total Revenue*4,706,440$ 1,870,851$ 1,058,583$ (2,835,589)$ 812,268$ 40%77% OPERATING EXPENDITURES WITHOUT DEBT Budget w/Carryforward Actual (As of 9/30/13)LY Actual (As of 9/30/12)$ Variance to Budget $ Variance to LY % to Budget % to LYPayroll - Salary 4,176,409$ 852,760$ 878,460$ (3,323,650)$ (25,700)$ 20%-3%Medicare P/R Tax Expense 62,851$ 12,365$ 12,738$ (50,486)$ (372)$ 20%-3%Medical Insurance 828,680$ 198,251$ 189,570$ (630,429)$ 8,681$ 24%5%Barnstable County Retirement 648,986$ 645,058$ 597,542$ (3,928)$ 47,515$ 99%8%Contractual Obligations 150,000$ -$ -$ (150,000)$ -$ 0%0%Utilities 231,528$ 37,477$ 27,416$ (194,051)$ 10,061$ 16%37%Repairs & Maintenance 35,246$ 6,006$ 7,347$ (29,240)$ (1,342)$ 17%-18%Food 138,370$ 30,517$ 29,155$ (107,853)$ 1,362$ 22%5%Professional Services 654,898$ 31,939$ 38,736$ (622,959)$ (6,797)$ 5%-18%Medical Supplies 124,010$ 20,428$ 14,139$ (103,582)$ 6,289$ 16%44%General Insurance 101,118$ 46,819$ 46,818$ (54,299)$ 1$ 46%0%Other Supplies 64,434$ 15,137$ 12,127$ (49,297)$ 3,010$ 23%25%Other 226,008$ 91,590$ 92,738$ (134,418)$ (1,148)$ 41%-1%Transfer to Capital -$ -$ -$ -$ -$ 0%0%Total Expenditures excluding debt 7,442,538$ 1,988,346$ 1,946,786$ (5,454,192)$ 41,560$ 27%2% Surplus (Deficit) of Revenue Over Expenditures Excluding Debt (2,736,098)$ (117,495)$ (888,203)$ 2,618,603$ 770,708$ 4%-87% DEBT SERVICE Budget w/Carryforward Actual (As of 9/30/13)LY Actual (As of 9/30/12)$ Variance to Budget $ Variance to LY % to Budget % to LY Principal -$ -$ -$ -$ -$ 0%0%Interest -$ -$ -$ -$ -$ 0%0%NOTES:Issuance Costs -$ -$ -$ -$ -$ 0%0%BAN Costs, Principal, Interest -$ -$ -$ -$ -$ 0%0%Other -$ -$ -$ -$ -$ 0%0%Total Debt Service -$ -$ -$ -$ -$ 0%0% Total - Surplus (Deficit) of Revenue Over all Operating Expenditures*(2,736,098)$ (117,495)$ (888,203)$ 2,618,603$ 770,708$ 4%-87% OTHER FINANCING SOURCES Budget w/Carryforward Actual (As of 9/30/13)LY Actual (As of 9/30/12)$ Variance to Budget $ Variance to LY % to Budget % to LY General Fund Subsidy 2,295,000$ 573,750$ 803,250$ (1,721,250)$ (229,500)$ 25%-29%Voted Use of Certified Retained Earnings 272,520$ -$ 560,000$ (272,520)$ (560,000)$ 0%-100%FY2014 Encumbrance Carryforward 168,578$ Total Other Financing Source 2,736,098$ 573,750$ 1,363,250$ (2,162,348)$ (789,500)$ 21%-58% -$ 456,255$ (84,953)$ 456,255$ 541,208$ 100%-637% BENCHMARKS % of Debt to Operating Expense Policy 0$ 0$ 0$ % of Actual Debt to Operating Expense -$ -$ -$ Certified Retained Earnings 3,411,372$ % of Certified Retained Earnings Used for Operations 0$ % of Certified Retained Earnings Used for One Time or Capital Expenditures -$ Gift Funds utilized within 1st quarter: Van donation: $214.75 (handicap lift parts) Other uses not yet paid: Newspaper/magazine subscription, Fair costs/Ads, Art and Music therapy programming Other Gift Funds:Kuckowski, Salt Water fish tank maintenance: $1,700.95 *Note: Governments operate on a budgetary basis; therefore revenue earned in excess of the certified budget is not available to offset expenditures in the current fiscal year. Excess revenue and expenditure turnbacks must go through the State of Massachusetts retained earnings certification process before they can be appropriated at a subsequent annual and/or special town meeting. Once certified, retained earnings can only be appropriated at an annual and/or special town meeting. FY2014 Our Island Home Enterprise Budget Update Surplus (Deficit) of Revenue Plus Other Financing Sources Over Expenditures* Financial Highlights As of September 30, 2013 STATISTICS Actual Revenue % Breakdown As of September 30, 2013 Actual Census % As of of September 30, 2013 Current Cost Per Day: $432/day Average Medicaid Reimb: $ 208.06 Private Patient Reimbursement: $420.00 Average Medicare A Reimbursement: $591.33 Average Occupancy Rate: 44 of 45 beds (97%) General: Art program, Music entertainment, Fair lottery tax: $1,304.25 15% 1% 22% 7% 1% 54% 0% Medicaid Patient Revenue Medicare Revenue Private Patient Income Patient Paid Amount Secondary Insurance Prior Year CPE Receipts Interest Earned 63% 2% 26% 9% Medicaid Patient Revenue Medicare Revenue Private Patient Income Medicaid Pending