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Village board hears Sunrise Heights of Wauneta audit report PDF Print E-mail
Written by Wauneta Breeze   
Thursday, 11 September 2014 16:24

By Sheri Hink-Wagner

The Wauneta Breeze

 

Members of the Wauneta Village Board met last Wednesday to hear the audit report for Sunrise Heights of Wauneta.

Marcy Luth with Almquist, Maltzahn, Galloway and Luth, the nursing home’s auditor, provided the report. Board members were joined by nursing home administrator Lisa Kisinger and Walt Dye with the management company, Rural Health Development.

Luth’s report of the audit indicated that the nursing home’s net position (financial standing) increased by $56,027 during the 2014 fiscal year, which ended June 30, 2014.

Furthermore, Luth reported the nursing home’s assets exceeded its liabilities at the close of the fiscal year by $683,754. She noted that of that amount $395,457 is unrestricted.

Luth also pointed out to village board members that the nursing home’s operating revenues increased by $83,884 (4 percent) and that the facility’s operating expenses increased by $100,648 (5.1 percent). As a result, the operating income for FY 2014 was $105,214 compared to an operating income of $121,978 the previous fiscal year.

In FY 2014 the nursing home’s total census was 11,733 days–5,684 private paid, 4,863 Medicaid and 1,186 Medicare.

FY 2013 had slightly more total census days with 11,763 –6,190 were private paid, 4,822 Medicaid and 751 Medicare.

She explained that part of the increase in operating expenses was due to increased nursing expenses, which was largely due to an increased number of Medicare residents throughout the fiscal year.

The facility’s total assets were $1,272,465 at the end of the year, up from the previous fiscal year.

The facility’s only outstanding long-term debt is the revenue bonds used to purchase the home. The $500,000 bonds were issued June 22, 2012. The village pays principal and interest payments of $3,574 each month. The final bond payment will be due June 30, 2027. Funds used to make the bond payments are derived from the nursing home’s budget.

 


CORRECTION from last week's Village Board Story:

 

In last week’s front page story on the Village of Wauneta’s budget workshop it stated the Village’s cash reserves total over $6 million. The amount shown in the story was incorrect. The Village of Wauneta’s cash reserves total $1.6 million.

Readers with questions or possible corrections to information published in this newspaper are invited to call.

Last Updated on Monday, 15 September 2014 16:55