MEDICAL MISSION GROUP

HOSPITAL AND HEALTH SERVICES

COOPERATIVE (BOHOL)

HEMODIALYSIS UNIT

2015 YEAR-END

FINANCIAL REPORT

Statement of OperationsFor the year ended, December 31, 2015

Notes 2015 2014

REVENUES

Income from Service (Hospital) Operations 8.1 4,189,892.51 -

Income from Consumers/Marketing Operations 8.2 - -

Other Income 8.3 708.96 112.04

TOTAL REVENUES 4,190,601.47 112.04

EXPENSES 9.2 2,918,556.03 -

NET SURPLUS (LOSS) FROM OPERATIONS 1,272,045.44 112.04

Note 8- INCOME/RECEIPTS

This account is broken down as follows:

8.1 Income from Service Operations

Service Income - Oxygen 71,525.00

Service Income - Hemodialysis 8,035,322.66

Service Income - ECG 1,000.00

TOTAL 8,107,847.66

LESS: COST OF SERVICES

Hemodialysis Supplies 3,591,295.95

Medical supplies 76,805.95

Professional Fees-Hemodialysis 249,500.00 3,917,601.90

GROSS INCOME FROM SERVICE OPERATIONS 4,190,245.76

Less: Discounts 353.25

Net Income from Services Operations 4,189,892.51

8.2 Other Income

Interest Income-Bank Deposits (net of tax) 708.96

Total 708.96

8.3 TOTAL INCOME FOR THE PERIOD 4,190,601.47

Note 9- EXPENSES

This account consist of the following:

9.1 Administrative/Operating Expenses

9.1.1 Compensation and Benefits

Salaries and Allowance 1,402,693.97

Employees Benefits 80,149.61

Total 1,482,843.58

9.1.2 Other Expenses

Power & Light (Electricity) 36,220.00

Communication Expense 15,093.00

Travel and Transportation Expenses 22,029.68

Trainings & Seminars 145,757.30

Repairs and Maintenance 51,975.58

Gasoline & Fuel 500.00

Bank Service Charge 200.00

Office Supplies 25,675.16

Hospital supplies 76,805.95

Hemodialysis Supplies 3,591,295.95

Hemo Fees 32,000.00

Professional Fees-Hemodialysis 249,500.00

Charities & Donations 37.95

Representation Expenses 42,843.27

Taxes, Fees & Charges 56,384.00

Depreciation Expenses 1,006,996.51

Total 5,353,314.35

9.2 TOTAL EXPENSES 6,836,157.93

9.3 NET SURPLUS 1,272,045.44

STATEMENT OF FINANCIAL CONDITIONAs of December 31,2015

Notes 2015 2014

ASSETS

CURRENT ASSETS

Cash and Cash Equivalents 115,712.52 9,137.54

Receivables and Advances, Net 5,724,061.85 28,551.35

Inventories 974,986.45 -

Other Current Assets 414,108.20 422,035.06

Total Current Assets 7,228,869.02 459,723.95

NON-CURRENT ASSETS

Property and Equipment, Net 5,664,666.98 7,975,113.40

Other Non-Current Assets

Total Non-Current Assets 5,664,666.98 7,975,113.40

TOTAL ASSETS 12,893,536.00 8,434,837.35

LIABILITIES AND EQUITY

LIABILITIES

CURRENT LIABILITIES

Trade, Non-Trade and Other Payables 1,179,210.89 6,750,000.00

Other Current Liabilities 5,868,176.46 754,958.60

Total Current Liabilities 7,047,387.35 7,504,958.60

TOTAL LIABILITIES 7,047,387.35 7,504,958.60

EQUITY

Share Capital 4,573,991.16 929,766.71

Statutory & Optional Funds

Net Savings, Beg 112.04

Add: Net Savings for the month 1,272,045.44 112.04

TOTAL EQUITY 5,846,148.64 929,878.75

TOTAL LIABILITIES AND EQUITY 12,893,535.99 8,434,837.35

See accompanying notes to financial statements

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