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  • June 19-2015 Board Update Financials

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    The Bermuda Hospitals Board provides unaudited financial information for the period ending March 31, 2015. Assets totaled $587 million, with cash and investments of $82 million and capital assets of $477 million. Revenues were $300 million, with medical revenues of $258 million and government grants of $37 million. Expenses totaled $284 million, including salaries of $175 million and depreciation of $15 million. The net margin was 4.38% with a net income of $13 million.

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    The Bermuda Hospitals Board provides unaudited financial information for the period ending March 31, 2015. Assets totaled $587 million, with cash and investments of $82 million and capital assets of $477 million. Revenues were $300 million, with medical revenues of $258 million and government grants of $37 million. Expenses totaled $284 million, including salaries of $175 million and depreciation of $15 million. The net margin was 4.38% with a net income of $13 million.

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    June 19-2015 Board Update Financials

    Uploaded by

    BernewsAdmin
    The Bermuda Hospitals Board provides unaudited financial information for the period ending March 31, 2015. Assets totaled $587 million, with cash and investments of $82 million and capital assets of $477 million. Revenues were $300 million, with medical revenues of $258 million and government grants of $37 million. Expenses totaled $284 million, including salaries of $175 million and depreciation of $15 million. The net margin was 4.38% with a net income of $13 million.

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    BERMUDAHOSPITALSBOARDUNAUDITEDSUMMARYFINANCIALINFORMATIONasatMarch31,2015

    BERMUDAHOSPITALSBOARD
    SUMMARYFINANCIALINFORMATION
    AsatMarch31,2015
    BALANCE SHEET

    ASSETS
    Cash,Deposits&Investments
    TradeReceivables
    Inventories&OtherAssets
    TotalCurrentAssets
    CapitalAssets
    TotalAssets
    LIABILITIES&NETASSETS
    CurrentLiabilities
    LongTermLiabilities
    DeferredCapitalContributions
    NetAssets
    TotalLiabilities&NetAssets

    March-15

    March-14

    $81,857,468
    11,491,488
    17,102,730
    110,451,686
    476,935,440
    $587,387,126

    $93,338,092
    18,773,569
    20,566,821
    132,678,482
    367,401,869
    $500,080,351

    $47,131,649
    326,633,089
    61,706,630
    151,915,758
    $587,387,126

    $53,043,909
    284,184,407
    35,644,980
    127,207,055
    $500,080,351

    INCOME STATEMENT

    Revenue
    MedicalRevenue
    GovernmentGrants
    OtherRevenue
    Totalrevenue
    Expenses
    Salaries&Benefit
    OperatingExpenses
    GeneralSupplies
    MedicalSupplies
    Repairs&Maintenances
    OtherOperatingExpenses
    Depreciation
    TotalOperatingExpenses
    TotalExpenses
    ProvisionforRedevelopment
    Excessofrevenueoverexpenses
    NetMargin

    YTD Actual

    YTD Actual

    March-15

    March-14

    $257,516,403
    37,464,000
    4,667,799
    $299,648,202

    $269,541,242
    37,464,000
    5,644,183
    $312,649,425

    $174,677,753 $175,778,470
    31,225,110
    26,519,519
    11,007,205
    25,431,617
    15,172,192
    109,355,643
    $284,033,396
    (2,500,000)
    $13,114,806
    4.38%

    $32,779,367
    28,598,096
    9,935,214
    23,761,916
    11,220,763
    106,295,356
    $282,073,826
    (15,000,000)
    $15,575,599
    4.98%

    Notes:
    OperatingexpensesfortheyearendedMarch2015includeapproximately$19mofadditionalcostsrelatingtothe
    NewAcuteCareWing.
    GovernmentGrantsisentirelymadeupofthegrantfortheMidAtlanticWellnessInstitute.

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