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Frederick Memorial Hospital, Inc. And Subsidiaries Consolidated Statements Of Operations Years Ended June 30, 2005 And 2004 2005 2004 Revenues Inpatient charges $ 120,135,370 $ 104,616,550 Outpatient charges 140,951,138 121,958,928 261,086,508 226,575,478 Allowances, contractual and other 41,811,952 34,383,680 Net patient service revenue 219,274,556 192,191,798 Premium revenues 106,035 127,789 Other operating revenues 8,791,735 8,063,365 Net assets released from restrictions used for operations 107,571 167,738 Total revenues 228,279,897 200,550,690 Expenses Salaries and wages 95,237,651 Employee benefits 20,960,623 Professional fees 4,699,570 Cost of goods sold 36,339,754 Supplies 8,627,483 Contract services 16,336,095 Other 10,584,371 Utilities 2,881,345 Insurance 2,051,129 Depreciation and amortization 13,217,576 Interest Provision for uncollectible accounts, net of recoveries; 5,829,323 2005, $1,905,472; and 2004, $1,921,441 8,863,479 Loss on impairment and disposal of assets - Total expenses 225,628,399 Operating income (loss) 2,651,498 Other income Gain on sale of assets 21,015 Unrestricted gifts, bequests and contributions 760,849 Investment income 4,815,990 Excess of revenues over expenses 8,249,352 Other changes in unrestricted net assets Additional minimum pension adjustment (5,949,446) Net unrealized appreciation (depreciation) of investments (1,393,055) Provision for uncollectible promises to give Net assets released from restrictions used to - purchase property, plant and equipment 11,688,165 4 89,923,463 20,971,693 3,484,373 32,470,457 8,498,656 14,846,889 9,425,415 2,442,759 1,505,886 9,163,919 2,571,141 6,571,837 1,432,528 203,309,016 (2,758,326) - 659,677 2,712,181 613,532 6,918,554 2,141,845 (903,142) 5,007,281 Increase in unrestricted net assets $ 12,595,016 $ 13,778,070 See Notes to the Consolidated Financial Statements.
Frederick Memorial Hospital, Inc. And Subsidiaries Consolidated Statements Of Changes In Net Assets Years Ended June 30, 2005 And 2004 Temporarily Permanently Unrestricted Restricted Restricted Total Net Assets, June 30, 2003 $ 113,399,828 $ 19,239,218 $ 1,111,806 $ 133,750,852 Increase in net assets 13,778,070 Assets released from restrictions - Restricted gifts, bequests and contributions - Reclassification 1,588,074 Change in net assets 15,366,144 Net Assets, June 30, 2004 128,765,972 Increase in net assets 12,595,016 Assets released from restrictions - Restricted gifts, bequests and contributions - Change in net assets 12,595,016 5 - (5,175,019) 5,915,960 (1,452,445) (711,504) 18,527,714 - (11,795,736) 3,741,073 (8,054,663) - - - (135,629) (135,629) 976,177 - - - - 13,778,070 (5,175,019) 5,915,960 - 14,519,011 148,269,863 12,595,016 (11,795,736) 3,741,073 4,540,353 Net Assets, June 30, 2005 $ 141,360,988 $ 10,473,051 $ 976,177 $ 152,810,216 See Notes to the Consolidated Financial Statements.
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September 12, 2005 Pursuant to your request, attached herewith is ...

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