UMHS Consolidated, Medical School & HHC Financial Reports ... FY 16 Closing Package.pdf · FY 15 Q2 FY 15 Q3 FY 15 Q4 FY 15 FY 15 Total Year Jul FY 16 Aug FY 16 Sep FY 16 Q1 FY 16

UMHS Consolidated, Medical School & HHC Financial Reports

September FY 2016

Table of contents Pages

UMHS Financial Reports

Consolidated Financial Summary…………….….……..……….. 3 – 4

Medical School Financial Reports

Key Financial Indicator Graphs….….…………………………….. 6 – 12

HHC Financial Reports

Executive Summary….……………….……………………………….. 14 – 18

Key Financial Indicator Graphs….….…………………………….. 20 – 29

Monthly Financial Statements……..……………………………… 31 – 44

2

HHCMed

School

EVPMA & Shared

Services MHC EliminationsFY16 UMHS

ConsolidatedTotal Revenues $249.4 $108.7 $11.3 $0.3 ($28.0) $341.7Operating Expenses

Payroll $119.0 $87.1 $7.9 $0.1 $0.0 214.1 Depreciation $16.2 $3.7 $0.0 $0.1 $0.0 20.0 Other Operating 101.3 37.3 3.7 - (28.0) 114.3

Total Expenses $236.5 $128.1 $11.6 $0.2 ($28.0) $348.4Operating Margin $12.9 ($19.4) ($0.3) $0.1 $0.0 ($6.7)

Margin % 5.2% -17.8% -2.2% 0.0% -2.0%Non Operating Items

Investment Income $3.8 $6.2 $0.6 $0.3 10.9 Interest Expense - net ($3.2) ($0.4) $0.0 $0.0 (3.6) Other Non Operating 10.0 4.9 0.1 (0.2) 14.8

Pre Transfers / Support Margin $23.5 ($8.7) $0.4 $0.2 $0.0 $15.4Margin % 9.4% -8.0% 3.8% 0.0% 4.5%

UMHS Support ($13.6) $12.6 $0.0 $1.0 - Equity Transfers - Net Campus ($1.5) $1.9 ($1.8) ($1.0) (2.4)

Total Margin $8.4 $5.8 ($1.4) $0.2 $0.0 $13.0Margin % 3.4% 5.4% -12.5% 0.0% 3.8%

Total Cash Flow Margin $25.7 $10.9 ($1.4) $0.2 $0.0 $35.4Margin % 10.3% 10.1% -12.4% 0.0% 10.4%

September MTD Plan $8.0 $0.1 $15.43.3% 0.1% 4.7%

FY 16 Plan $116.1 ($10.7) $199.14.0% -0.8% 5.0%

UMHS Consolidated FY16 September MTD Financials

3

HHCMed

School

EVPMA & Shared

Services MHC EliminationsFY16 UMHS

ConsolidatedTotal Revenues $733.2 $326.9 $30.4 $0.8 ($80.9) $1,010.4Operating Expenses

Payroll $349.7 $257.8 $23.2 $0.1 $0.0 630.8 Depreciation $49.0 $11.1 $0.1 ($0.1) $0.0 60.1 Other Operating 296.6 117.1 9.3 0.9 (80.9) 343.0

Total Expenses $695.3 $386.0 $32.6 $0.9 ($80.9) $1,033.9Operating Margin $37.9 ($59.1) ($2.2) ($0.1) $0.0 ($23.5)

Margin % 5.2% -18.1% -7.2% 0.0% -2.3%Non Operating Items

Investment Income $11.0 $18.1 $0.6 $0.3 30.0 Interest Expense - net ($9.7) ($1.2) $0.0 $0.0 (10.9) Other Non Operating 9.7 10.9 0.0 (0.1) 20.5

Pre Transfers / Support Margin $48.9 ($31.3) ($1.6) $0.1 $0.0 $16.1Margin % 6.7% -9.6% -5.2% 0.0% 1.6%

UMHS Support ($40.7) $37.8 $0.0 $2.9 - Equity Transfers - Net Campus ($2.6) $2.4 ($1.9) ($2.9) (5.0)

Total Margin $5.6 $8.9 ($3.5) $0.1 $0.0 $11.1Margin % 0.8% 2.7% -11.4% 0.0% 1.1%

Total Cash Flow Margin $56.6 $24.1 ($3.4) $0.1 $0.0 $77.4Margin % 7.7% 7.4% -11.2% 0.0% 7.7%

September YTD Plan $29.0 $0.2 $50.94.0% 0.1% 5.1%

FY 16 Plan $116.1 ($10.7) $199.14.0% -0.8% 5.0%

UMHS Consolidated FY16 September YTD Financials

4

Medical School September FY 2016 Results

5

Clinical Operating Margin

$100.8 $114.0

$126.4

$114.0

$132.2

$162.0

$42.6

$126.6

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

$0

$50

$100

$150

$200

$250

FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY16Budget

Clinical Operating Margin Clin Op Margin %

6

FY16 September YTD Clinical Operating Margin

2014 - YTD 2015 - YTD 2016 - YTD 2014 - YTD 2015 - YTD 2016 - YTD 2014 - YTD 2015 - YTD 2016 - YTD 2014 - YTD 2015 - YTD 2016 - YTD

Anesthesiology Department 12,448,449 13,725,026 14,538,068 10,428,938 11,379,860 11,635,823 2,019,511 2,345,166 2,902,245 16.2% 17.1% 20.0%Cardiac Surgery 3,366,890 3,393,436 3,224,266 2,711,306 2,566,564 2,843,359 655,584 826,872 380,908 19.5% 24.4% 11.8%Dermatology Department 2,464,057 2,464,295 2,483,368 1,876,465 1,749,384 1,921,144 587,592 714,911 562,225 23.8% 29.0% 22.6%Emergency Medicine 6,573,593 7,167,645 7,224,682 5,237,039 5,155,584 5,278,798 1,336,554 2,012,061 1,945,884 20.3% 28.1% 26.9%Family Medicine 3,059,750 3,320,212 3,776,372 2,727,332 2,982,672 3,655,726 332,418 337,540 120,647 10.9% 10.2% 3.2%Internal Medicine 27,166,094 27,173,330 31,523,817 22,654,544 24,114,508 27,430,627 4,511,550 3,058,821 4,093,190 16.6% 11.3% 13.0%Neurology Department 2,307,978 2,621,068 2,603,592 1,773,353 1,807,566 2,016,751 534,624 813,502 586,841 23.2% 31.0% 22.5%Neurosurgery 2,956,421 2,804,340 3,088,025 2,873,103 2,724,205 3,075,826 83,318 80,135 12,199 2.8% 2.9% 0.4%Obstetrics & Gynecology 4,403,042 4,539,753 5,043,886 3,053,765 4,188,481 3,945,274 1,349,277 351,272 1,098,611 30.6% 7.7% 21.8%Ophthalmology & Visual Science 4,724,542 5,051,231 6,010,794 3,839,632 4,323,696 4,900,877 884,910 727,535 1,109,917 18.7% 14.4% 18.5%Orthopaedic Surgery 3,885,013 4,212,401 4,074,426 3,368,202 3,466,067 3,756,827 516,811 746,334 317,600 13.3% 17.7% 7.8%Otolaryngology 3,579,625 3,352,411 3,646,261 2,576,585 2,475,256 2,822,880 1,003,040 877,155 823,382 28.0% 26.2% 22.6%Pathology Department 7,278,275 6,549,650 7,697,400 4,615,545 5,138,226 5,996,750 2,662,730 1,411,424 1,700,650 36.6% 21.5% 22.1%Pediatrics 11,657,794 11,842,999 12,565,428 9,880,121 10,125,517 10,710,478 1,777,673 1,717,482 1,854,950 15.2% 14.5% 14.8%Physical Medicine & Rehab Dept 2,144,404 2,224,603 2,429,909 1,829,699 1,945,929 1,818,860 314,705 278,674 611,049 14.7% 12.5% 25.1%Psychiatry 3,045,691 3,272,394 3,131,018 2,464,203 2,653,034 2,593,184 581,488 619,360 537,834 19.1% 18.9% 17.2%Radiation Oncology 2,611,480 2,981,282 1,928,760 1,864,036 2,065,986 2,344,717 747,445 915,296 (415,957) 28.6% 30.7% -21.6%Department of Radiology 10,030,332 10,597,337 11,056,693 7,805,353 8,633,046 7,675,572 2,224,980 1,964,291 3,381,121 22.2% 18.5% 30.6%Surgery 12,398,227 11,521,122 11,823,883 8,317,376 8,819,770 9,339,173 4,080,851 2,701,351 2,484,710 32.9% 23.4% 21.0%Urology Surgery 2,495,538 2,307,889 2,824,826 1,978,049 2,293,889 2,508,204 517,488 14,000 316,622 20.7% 0.6% 11.2%

Total Clinical Department 128,597,194 131,122,422 140,695,475 101,874,646 108,609,239 116,270,847 26,722,549 22,513,183 24,424,628 20.8% 17.2% 17.4%

Faculty Group Practice 34,337,764 38,412,806 46,598,259 26,016,327 27,820,066 28,401,940 8,321,438 10,592,739 18,196,319 24.2% 27.6% 39.0%Miscellaneous Departments - - - - - - - - - - - -

Total 162,934,959 169,535,227 187,293,734 127,890,972 136,429,305 144,672,787 35,043,986 33,105,922 42,620,947 21.5% 19.5% 22.8%

Operating Revenue Operating Expenses Operating Margin Operating Margin %

7

MS October FY15 - September FY16 FTE’s

2,353

2,447

4,280 4,310

3,800

3,900

4,000

4,100

4,200

4,300

4,400

4,500

4,600

2,100

2,120

2,140

2,160

2,180

2,200

2,220

2,240

2,260

2,280

2,300

2,320

2,340

2,360

2,380

2,400

2,420

2,440

2,460

Oct Nov Dec Jan Feb Mar Apr May June July August Sep

Staf

f FTE

's

Facu

lty F

TE's

Faculty FTE's Staff FTE's

8

MS YTD Total MarginQuarterly / Monthly Trend Detail

Amounts in $M Q1

FY 15 Q2

FY 15 Q3

FY 15 Q4

FY 15 FY 15

Total Year Jul FY 16 Aug FY 16 Sep FY 16 Q1

FY 16 FY 16YTD

Business Days 64 63 63 64 254 22 21 21 64 64

Patient Care $110.1 $116.5 $116.9 $118.9 $462.5 $37.1 $39.9 $41.9 $118.8 $118.8Sponsored Research 75.1 75.6 78.0 82.7 311.5 26.9 27.4 24.9 79.2 79.2IDC, Tuition & Provost Allocation (GF) 48.0 48.0 48.0 51.6 195.8 16.3 16.7 16.6 49.6 49.6UMHS Service Payments (In) 38.3 40.6 43.3 41.6 163.9 13.9 13.9 13.5 41.3 41.3Other Income 29.4 44.4 37.6 47.7 159.0 18.0 8.1 11.8 38.0 38.0

Total Operating Revenue 301.1 325.1 323.9 342.6 1,292.7 112.2 106.0 108.7 326.9 326.9

Total Operating Expenses 364.6 366.3 368.7 383.4 1,483.0 129.0 128.9 128.1 386.0 386.0

Operating Margin (63.5) (41.2) (44.7) (40.8) (190.3) (16.8) (23.0) (19.4) (59.1) (59.1)

Amb. Care Margin & Other Share Agreements 19.8 19.6 24.5 28.8 92.7 7.7 9.9 8.8 26.4 26.4ASP Partnership Agreement 12.5 12.5 12.5 12.5 50.2 4.4 4.4 4.4 13.3 13.3Restricted Gifts, Interest Income, Other 15.7 27.4 21.9 28.5 93.7 8.7 7.6 12.0 28.3 28.3

Non-Operating Income 48.1 59.5 59.0 69.9 236.6 20.8 22.0 25.2 68.0 68.0

Total Margin ($15.5) $18.3 $14.3 $29.1 $46.3 $4.1 ($1.0) $5.8 $8.9 $8.9

Total Margin % (5.2%) 5.6% 4.4% 8.5% 3.6% 3.6% (0.9%) 5.4% 2.7% 2.7%

9

MS - September FY16 Financial Update

Monthly Metrics Q1

FY 15 Q2

FY 15 Q3

FY 15 Q4

FY 15 FY 15

Total Year Jul

FY 16AugFY 16

SepFY 16

Q1FY 16

YTDFY 16

Clinical Operating Margin ($) $33.1 $42.5 $44.3 $42.1 $162.0 $15.4 $15.6 $11.7 $42.6 $42.6

Clinical Operating Margin (%) 19.5% 24.0% 23.7% 21.8% 22.3% 24.3% 24.9% 19.0% 22.8% 22.8%

Ambulatory Care Margin Sharing* $19.1 $18.9 $24.2 $28.6 $90.7 $7.5 $9.7 $8.7 $25.8 $25.8

Work RVU's (in Thousand's) 1,468.5 1,557.7 1,571.0 1,632.2 6,229.5 483.4 520.6 547.6 1,551.6 1,551.6

Sponsored Research Revenue (% vs. PY MTD) -2.1% 0.2% 2.8% 9.8% 2.7% 10.1% 4.8% -1.9% 4.2% 4.2%

% of Operating Exp on Restricted funds 24.1% 24.6% 23.8% 25.0% 24.4% 25.0% 25.1% 23.3% 24.5% 24.5%

IDC per Sq. Foot** $98 $97 $98 $98 $98 $99 $99 $99 $99 $99

Operating ($'s) $4.0 $19.5 $9.4 $9.5 $42.4 $3.2 $2.1 $4.4 $9.7 $9.7

Endow ment ($'s) $1.7 $7.3 $4.0 $6.5 $19.5 $3.5 $2.1 $4.6 $10.3 $10.3

* Ambulatory Care Margin Sharing is included in the Clinical Operating Margin**UM Medical School IDC rates are approximately at the median based on 2014 AAMC GBA Annual Metrics Report

Clin

ical

Res

earc

h G

ifts

10

529 587 706 738882 944

760 802951 956 1,009

1,163 1,221 1,209

631 625601

706

808828

713762

933 922 905

9881,017 1,002

$0

$500

$1,000

$1,500

$2,000

$2,500

FY03

FY04

FY05

FY06

FY07

FY08

FY09

FY10

FY11

FY12

FY13

FY14

FY15

FY16

Restricted Cash & Investments Unrestricted Cash & Investments

$mill

ions

FY03 – FY16 Cash & Investments$2,211B

$1,160B

as of 9/30/15 Cash Investments TotalUnrestricted $265 $737 $1,002Restricted $234 * $975 $1,209

$499 $1,712 $2,211

* includes $49M of Sponsored Research Cash

11

MS Unrestricted Cash Metrics

2,700

2,750

2,800

2,850

2,900

2,950

3,000

3,050

Oct2014

Nov2014

Dec2014

Jan2015

Feb2015

Mar2015

Apr2015

May2015

Jun2015

Jul2015

Aug2015

Sept2015

Avg Daily Operating Expense

Avg Daily Operating Expense

344

355

350350

344346 345

338

345347

343

335

325

330

335

340

345

350

355

360

Oct2014

Nov2014

Dec2014

Jan2015

Feb2015

Mar2015

Apr2015

May2015

Jun2015

Jul2015

Aug2015

Sept2015

Unrestricted Days Cash with FFAE

Unrestricted Days Cash with FFAE

12

Hospital and Health CentersSeptember FY 16 Results

13

14

(Amounts in Millions)FY16 FY15 FY16 FY15 FY16 FY15 FY16 FY15 FY16 FY15

Operating Revenue 339.0$ 327.8$ 107.3$ 105.3$ 285.4$ 239.3$ 1.5$ 1.9$ 733.2$ 674.3$

Operating Expenses:Payroll 173.2 163.7 55.9 54.5 94.4 87.7 26.2 24.1 349.7 330.0 Supplies 68.5 65.6 16.8 15.6 88.7 65.3 0.7 0.7 174.7 147.2 Shared Services 4.1 4.4 1.0 1.1 2.5 2.7 10.9 10.0 18.5 18.2 Other Non-salary 51.5 52.1 6.2 5.2 34.2 34.1 11.5 16.8 103.4 108.2 Total Expenses 297.3 285.8 79.9 76.4 219.8 189.8 49.3 51.6 646.3 603.6

Operating Cash Flow Margin 41.7$ 42.0$ 27.4$ 28.9$ 65.6$ 49.5$ (47.8)$ (49.7)$ 86.9$ 70.7$ Operating Cash Flow Margin% 12.3% 12.8% 25.5% 27.4% 23.0% 20.7% 11.9% 10.5%

Depreciation 14.4 15.2 10.8 10.7 9.6 10.4 14.2 14.5 49.0 50.8

Operating Margin 27.3$ 26.8$ 16.6$ 18.2$ 56.0$ 39.1$ (62.0)$ (64.2)$ 37.9$ 19.9$ Operating Margin% 8.1% 8.2% 15.4% 17.3% 19.6% 16.3% 5.2% 3.0%

Op Margin Budget - September 30.4$ 19.3$ 44.2$ (65.0)$ 29.0$

Notes:1. Other Support Services division includes Institutional & Gift Accounts, MCIT, HR, Finance, Government Relations, Public Relations & Marketing

Communications, Contracting, Community Services, etc. Ambulatory Care division includes HomeCare Services.2. Some adult business is included in the CW column.

Total HHCUH / CVC CWAmbulatory

CareOther Support

Services

FY 16 September YTD Segment View

15

EXECUTIVE SUMMARY OF FINANCIAL INDICATORSUNIVERSITY OF MICHIGAN HOSPITALS AND HEALTH CENTERS

Year-to-date through September 30, 2015

Amounts in $ Millions

Actual Last Year % Change Actual Last Year % Change

Operating Revenue $249.4 $224.4 11.1% $733.2 $674.3 8.7%

Operating Expenses

Payroll 119.0 111.2 7.0 % 349.7 330.0 6.0 %

Supplies 59.0 48.1 22.7 % 174.7 147.2 18.7 %

Depreciation 16.2 17.9 (9.5)% 49.0 50.8 (3.5)%

Shared Services 6.8 6.7 1.5 % 18.5 18.2 1.6 %

Other Non-Salary 35.5 37.9 (6.3)% 103.4 108.2 (4.4)%

Total Expenses $236.5 $221.8 6.6 % $695.3 $654.4 6.3 %

Operating Margin $12.9 $2.6 $37.9 $19.9

Operating Margin % 5.2 % 1.2 % 5.2 % 3.0 %

Sep Month Year-To-Date

16



(Amounts in $ Millions)Actual

Operating Margin $37.9

Gain (Loss) from Prior Period Settlements -

Investment Income 11.0

Change in market value of investments (31.9)

Construction Gifts -

Interest Expense (9.7)

Restricted Gifts, Net 0.1

Other nonoperating gains/losses 9.6

Net Income (Loss) $17.0

Equity transfers to other UM units ($43.3)

Total Changes in Net Assets ($26.3)

BALANCE SHEET SUMMARY

(Amounts in $ Millions)Sep - 15 Jun - 15 Change

Cash and investments $1,231.3 $1,195.3 $36.0

Accounts receivable 304.8 273.1 31.7

Property and equipment 1,454.3 1,478.4 (24.1)

Other Assets 86.7 73.8 12.9

Total Assets $3,077.1 $3,020.6 $56.5

Current Liabilities 246.3 165.5 (80.8)

Long-term liabilities 1,255.5 1,253.5 (2.0)

Total Liabilities $1,501.8 $1,419.0 $(82.8)

Net Assets $1,575.3 $1,601.6 ($26.3)

17

EXECUTIVE SUMMARY OF FINANCIAL INDICATORS

UNIVERSITY OF MICHIGAN HOSPITALS AND HEALTH CENTERS


SUMMARY OF KEY FINANCIAL INDICATORS

Actual Last Year*

Year-To-Date

%Change

Paid FTEs 16,226 15,745 (3.1)%

FTE/Adjusted Cases 1,355 1,405 3.6%

Uncompensated Care (in 000's) $32,036 $32,269 0.7%

Med supply costs/adjusted cases 2,111 2,227 5.2%

Pharm supply costs/adjusted cases 3,185 2,483 (28.2)%

Total Facility costs/adjusted cases 21,038 21,269 1.1%

IP Average Length of Stay 6.02 6.17 2.4%

5.10 4.81 (6.0)%August Readmission Rate**

Operating Cash Flow Margin % 11.9% 10.5%

Operating Margin Percentage 5.2% 3.0%

Total Margin Percentage 0.8% (1.7)%

Facility Net Days in Receivables 36 32 (12.5)%

Days of Cash on Hand*** 176 173 1.7%

* "Last Year" is the prior year-to-date for activity and operating indicators, and 6/30/15 for days of cash on hand, and facility net days in receivable.

** Readmission Rate is Readmit to Same Service within 14 days

*** Days Cash on Hand is calculated using the Rating Agencies' methodology of excluding restricted cash/investments

18


Total Discharges………………………………………………………. 20

Average Length of Stay…………………………………………….. 21

Uncompensated Care…………….….………………...………….. 22

Monthly Paid FTEs – 25 Month Trend……………………….. 23

Med Surg Cost per Adjusted Case.….………………………… 24

Pharmacy Cost per Adjusted Case.….……………………….. 25

Operating Cash Flow Margin…….………….….….………....... 26

Operating Margin…………….………….………………….……….. 27

Facility Net Days in Accounts Receivable…..………………. 28

Days of Cash & Investments on Hand...…………………….. 29

Key Financial Indicators

19

Note: Excludes Newborn Nursery (Source: PASS)

3,400

3,500

3,600

3,700

3,800

3,900

4,000

4,100

4,200

4,300

4,400

Se

p-1

3

Oct

-13

No

v-1

3

De

c-1

3

Jan

-14

Fe

b-1

4

Ma

r-1

4

Ap

r-1

4

Ma

y-1

4

Jun

-14

Jul-1

4

Au

g-1

4

Se

p-1

4

Oct

-14

No

v-1

4

De

c-1

4

Jan

-15

Fe

b-1

5

Ma

r-1

5

Ap

r-1

5

Ma

y-1

5

Jun

-15

Jul-1

5

Au

g-1

5

Se

p-1

5

Actual

Total HHC Discharges




Actual Last Year % Change

Sep-15 4,011 3,962 1.2%

YTD 12,299 12,213 0.7%

20

4.5

4.8

5.2

5.5

5.9

6.3

6.6

6.9

7.3

7.7

8.0

Se

p-1

3

Oct

-13

No

v-1

3

De

c-1

3

Jan

-14

Fe

b-1

4

Ma

r-1

4

Ap

r-1

4

Ma

y-1

4

Jun

-14

Jul-1

4

Au

g-1

4

Se

p-1

4

Oct

-14

No

v-1

4

De

c-1

4

Jan

-15

Fe

b-1

5

Ma

r-1

5

Ap

r-1

5

Ma

y-1

5

Jun

-15

Jul-1

5

Au

g-1

5

Se

p-1

5

Average Length Of Stay

Average Length Of Stay - 25 Month Trend w/ Obs & OIB




4.63 5.03

4.73 4.96

% ChangeLast YearActual

8.0%

4.6%

Sep-15

YTD

21

0

4,000

8,000

12,000

16,000

20,000

24,000S

ep

-13

Oct

-13

No

v-1

3

De

c-1

3

Jan

-14

Fe

b-1

4

Ma

r-1

4

Ap

r-1

4

Ma

y-1

4

Jun

-14

Jul-1

4

Au

g-1

4

Se

p-1

4

Oct

-14

No

v-1

4

De

c-1

4

Jan

-15

Fe

b-1

5

Ma

r-1

5

Ap

r-1

5

Ma

y-1

5

Jun

-15

Jul-1

5

Au

g-1

5

Se

p-1

5

Charity Care Bad Debt

Uncompensated Care (in 000's)




Last YearActual % Change

4,505 11,246Sep-2015 59.9%Bad Debt

4,501 813Sep-2015 -453.6%Charity Care

21,675 28,043YTD 22.7%Bad Debt

10,361 4,226YTD -145.2%Charity Care

22

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

22,000S

ep

-13

Oct

-13

No

v-1

3

De

c-1

3

Jan

-14

Fe

b-1

4

Ma

r-1

4

Ap

r-1

4

Ma

y-1

4

Jun

-14

Jul-1

4

Au

g-1

4

Se

p-1

4

Oct

-14

No

v-1

4

De

c-1

4

Jan

-15

Fe

b-1

5

Ma

r-1

5

Ap

r-1

5

Ma

y-1

5

Jun

-15

Jul-1

5

Au

g-1

5

Se

p-1

5

Overtime Regular Sick Vac PTO Temporary Total Actual

Monthly Paid FTEs - 25 Month Trend

Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15

Overtime 611 416 806 588 514 431 409 432 722 557 435 447 475 495 676 332 231 488 406 436 505 448 460 529 529

Regular 11,822 12,741 11,958 11,804 11,300 13,068 12,961 13,071 12,560 12,873 12,358 12,659 12,587 12,804 13,063 12,385 11,780 13,532 13,581 13,496 12,954 12,841 12,866 13,117 13,052

Sick Vac PTO 2,094 1,294 2,091 2,462 2,809 1,421 1,517 1,443 1,983 1,846 2,393 2,049 2,142 1,947 1,787 2,603 2,988 1,592 1,470 1,561 2,216 2,080 2,389 2,079 2,259

Temporary 397 401 357 368 315 362 338 377 649 756 736 557 390 326 344 327 266 329 318 340 462 500 498 490 410

TOTAL ACTUAL 14,925 14,851 15,211 15,222 14,939 15,281 15,225 15,323 15,914 16,031 15,922 15,712 15,593 15,572 15,869 15,647 15,265 15,940 15,774 15,834 16,137 15,869 16,213 16,215 16,250

FTE Calculation : HO= Total Hours / # of days in month * 8

Monthly Paid=Total Hours / # of work days * 8

Bi-Weekly Paid=Total Hours / ( # of days in month * (2080 / 365.25 ) )




Source: Finance Data Mart

23



1,700

1,800

1,900

2,000

2,100

2,200

2,300

2,400

2,500

2,600

OC

T 13

NO

V 1

3

DE

C 1

3

JAN

14

FEB

14

MA

R 1

4

AP

R 1

4

MA

Y 1

4

JUN

14

JUL

14

AU

G 1

4

SE

P 1

4

OC

T 14

NO

V 1

4

DE

C 1

4

JAN

15

FEB

15

MA

R 1

5

AP

R 1

5

MA

Y 1

5

JUN

15

JUL

15

AU

G 1

5

SE

P 1

5

Med Surg Cost per adjusted case

Actual Last Year % ChangeSep‐15 2,061 2,220 7.2%YTD 2,111 2,227 5.2%

24



1,700

1,900

2,100

2,300

2,500

2,700

2,900

3,100

3,300

OC

T 13

NO

V 1

3

DE

C 1

3

JAN

14

FEB

14

MA

R 1

4

AP

R 1

4

MA

Y 1

4

JUN

14

JUL

14

AU

G 1

4

SE

P 1

4

OC

T 14

NO

V 1

4

DE

C 1

4

JAN

15

FEB

15

MA

R 1

5

AP

R 1

5

MA

Y 1

5

JUN

15

JUL

15

AU

G 1

5

SE

P 1

5

Pharmacy Cost per adjusted case

Actual Last Year % ChangeSep‐15 3,201 2,357 ‐35.8%YTD 3,185 2,483 ‐28.2%

25

Benchmark Actual Last YearSep-15 10.0% 11.7% 9.1%YTD 10.0% 11.9% 10.5%

Benchmark is the most recent published Aa rated hospital median.Operating Cash Flow = (Operating Revenue – Operating Expense + Depreciation) / Operating Revenue * 100



‐2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

Operating Cash Flow Margin Percentage

Cash Flow Benchmark

26

Benchmark Actual Last YearSep-15 3.5% 5.2% 1.2%YTD 3.5% 5.2% 3.0%

Benchmark is the most recent published Aa rated hospital median.Source: Finance



‐10.0%

‐8.0%

‐6.0%

‐4.0%

‐2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

Operating Margin Percentage

Actual Benchmark

27




30

32

34

36

38

40

42

44

46

48

50

Sep-1

3

Oct

-13

Nov-

13

Dec-

13

Jan-1

4

Feb-1

4

Mar-

14

Apr-

14

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

Jun-1

5

Jul-15

Aug-1

5

Sep-1

5

Actual

Facility Net Days in Accounts Receivable

Benchmark

36 32Sep-15

Benchmark is the most recent published Aa rated hospital median .

Plan for Facility Net Days in Receivables

represents goals from HHC Strategic Financial Plan

Actual 6/30/2015

49.7

28

Actual 6/30/2015

Sep-15 176 173

Note: Statistics are restated for bad debt reclassification effective 7.1.2012



160

165

170

175

180

185

Oct

-14

Nov

-14

Dec

-14

Jan-

14

Feb-

14

Mar

-14

Apr

-14

May

-14

Jun-

14

Jul-1

4

Aug

-14

Sep

-14

Oct

-14

Nov

-14

Dec

-14

Jan-

15

Feb-

15

Mar

-15

Apr

-15

May

-15

Jun-

15

Jul-1

5

Aug

-15

Sep

-15

Unrestricted (Rating Agency) Days Cash on Hand - using 12 mth avg exp

Days of Cash and Investments on Hand

29


UMHS Financial Statements………....….………………....…….. 31 – 35

Medical School Financial Statements...……………...……….. 36 – 37

HHC Financial Statements………………………………….……….. 38 – 39

Comparative Income Statements by Division..…………….... 40 – 43

Cash Flow Statement…………..….…………………………………... 44

Monthly Financial Statements

30

University of Michigan Health System - UMHSChange in Net Assets

Income Statement SummarySep, FY2016

Whole Currency

Current Month Quarter-to-Date Year-to-DateSep, FY2016 Sep, FY2015 % Chg Sep, FY2016 Sep, FY2015 % Chg Sep, FY2016 Sep, FY2015 % Chg

Patient Care Revenues 284,387,406 257,439,879 10.5% 832,312,251 769,531,357 8.2% 832,312,251 769,531,357 8.2%UMHS Service Payments (In) (0) (0) 0.0% (0) 0 0.0% (0) 0 0.0%Tuition & Provost Allocation 7,895,852 7,417,354 6.5% 23,616,087 22,252,062 6.1% 23,616,087 22,252,062 6.1%Total Research (Directs & Indirects) 33,588,417 34,239,878 (1.9)% 105,185,637 100,941,736 4.2% 105,185,637 100,941,736 4.2%Gifts & Other Income 15,871,583 14,083,561 12.7% 49,245,038 40,555,519 21.4% 49,245,038 40,555,519 21.4%Total Operating Revenue 341,743,257 313,180,672 9.1% 1,010,359,013 933,280,675 8.3% 1,010,359,013 933,280,675 8.3%

Graduate Student Salaries 2,886,024 2,367,979 (21.9)% 10,722,279 10,094,077 (6.2)% 10,722,279 10,094,077 (6.2)%Nursing MNA Salaries 34,256,322 32,713,972 (4.7)% 101,150,821 97,204,490 (4.1)% 101,150,821 97,204,490 (4.1)%Other Staff Salaries 73,321,660 69,804,796 (5.0)% 214,201,207 200,732,752 (6.7)% 214,201,207 200,732,752 (6.7)%Faculty Salaries & Incentives 46,473,134 42,943,165 (8.2)% 135,061,577 127,716,835 (5.8)% 135,061,577 127,716,835 (5.8)%House Officer Salaries 5,894,511 5,579,734 (5.6)% 17,804,215 17,766,085 (0.2)% 17,804,215 17,766,085 (0.2)%AFSCME Salaries 4,156,312 4,118,686 (0.9)% 12,394,833 13,036,509 4.9% 12,394,833 13,036,509 4.9%Fringe Benefits 47,064,777 43,040,317 (9.4)% 139,470,225 127,670,943 (9.2)% 139,470,225 127,670,943 (9.2)%Total Payroll 214,052,740 200,568,648 (6.7)% 630,805,156 594,221,692 (6.2)% 630,805,156 594,221,692 (6.2)%

Supplies 68,586,374 59,793,397 (14.7)% 203,206,539 175,686,776 (15.7)% 203,206,539 175,686,776 (15.7)%Other Expenses 23,245,569 31,278,611 25.7% 69,170,220 75,905,290 8.9% 69,170,220 75,905,290 8.9%Depreciation 20,003,430 21,684,861 7.8% 60,130,875 61,749,351 2.6% 60,130,875 61,749,351 2.6%UMHS Service Payments (Out) (0) 0 0.0% (0) 0 0.0% (0) 0 0.0%Maintenance & Facility Costs 22,601,668 23,827,561 5.1% 70,549,660 73,455,964 4.0% 70,549,660 73,455,964 4.0%Total Non-Salary 134,437,041 136,584,431 1.6% 403,057,293 386,797,382 (4.2)% 403,057,293 386,797,382 (4.2)%

Total Operating Expenses 348,489,782 337,153,080 (3.4)% 1,033,862,449 981,019,074 (5.4)% 1,033,862,449 981,019,074 (5.4)%

Operating Margin (6,746,524) (23,972,408) 71.9% (23,503,436) (47,738,399) 50.8% (23,503,436) (47,738,399) 50.8%Operating Margin % (2.0)% (7.7)% (2.3)% (5.1)% (2.3)% (5.1)%

Other Transactions:UMHS Support 0 (0) 0.0% (0) (0) 0.0% (0) (0) 0.0%Construction Gifts 442 522 (15.5)% (52,742) (91,186) 42.2% (52,742) (91,186) 42.2%Endowment Gifts 4,686,071 815,130 474.9% 10,377,860 1,805,442 474.8% 10,377,860 1,805,442 474.8%Departmental Encumbrances 0 0 0.0% 0 0 0.0% 0 0 0.0%Deans Contributions 0 0 0.0% 0 0 0.0% 0 0 0.0%Gain & Loss - Capital Asset Disposal 15,999 (27,930) 157.3% (220,998) (140,935) (56.8)% (220,998) (140,935) (56.8)%Interest Expense (3,646,455) (3,708,852) 1.7% (10,918,405) (11,320,300) 3.6% (10,918,405) (11,320,300) 3.6%Equity Transfers (2,397,836) 1,047,258 (329.0)% (5,057,864) (4,229,570) (19.6)% (5,057,864) (4,229,570) (19.6)%Investment Income 10,886,308 11,312,060 (3.8)% 30,024,851 30,337,716 (1.0)% 30,024,851 30,337,716 (1.0)%Other Non-Operating 10,220,588 323,824 3,056.2% 10,451,099 993,067 952.4% 10,451,099 993,067 952.4%Non-Operating Income 19,765,116 9,762,011 102.5% 34,603,802 17,354,234 99.4% 34,603,802 17,354,234 99.4%

Total Margin 13,018,592 (14,210,397) 191.6% 11,100,365 (30,384,165) 136.5% 11,100,365 (30,384,165) 136.5%Total Margin % 3.8% (4.5)% 1.1% (3.3)% 1.1% (3.3)%

Change in Unrealized Gain & Loss (84,294,907) 19,270,576 (537.4)% (84,294,912) 19,270,224 (537.4)% (84,294,912) 19,270,224 (537.4)%

Change in Net Assets (71,276,315) 5,060,179 (1,508.6)% (73,194,547) (11,113,941) (558.6)% (73,194,547) (11,113,941) (558.6)%

TOTAL CASH FLOW MARGIN:Margin 13,018,592 (14,210,397) 191.6% 11,100,365 (30,384,165) 136.5% 11,100,365 (30,384,165) 136.5%Add Depreciation 20,003,430 21,684,861 (7.8)% 60,130,875 61,749,351 (2.6)% 60,130,875 61,749,351 (2.6)%OPEB Annual Expense Adjustment 2,412,818 416,667 479.1% 6,205,636 1,250,000 396.5% 6,205,636 1,250,000 396.5%Subtotal 35,434,840 7,891,131 349.0% 77,436,877 32,615,187 137.4% 77,436,877 32,615,187 137.4%Total Cash Flow Margin % 10.4% 2.5% 7.7% 3.5% 7.7% 3.5%

31

University of Michigan Health System Change in Net Assets

Income Statement Summary by EntitySep, FY2016 MTDWhole Currency

HHCMedical School &

InstitutionalHealth System

Shared ServicesMichigan Health

Corporation Total EliminationUMHS After Elimination

Patient Care Revenues 242,510,392 41,877,014 0 0 284,387,406 0 284,387,406UMHS Service Payments (In) 3,332,503 13,493,694 11,179,939 0 28,006,136 (28,006,136) 0Tuition & Provost Allocation 0 7,895,852 0 0 7,895,852 0 7,895,852Total Research (Directs & Indirects) 0 33,588,417 0 0 33,588,417 0 33,588,417Gifts & Other Income 3,605,453 11,834,838 158,376 272,917 15,871,583 0 15,871,583Total Operating Revenue 249,448,347 108,689,815 11,338,315 272,917 369,749,393 (28,006,136) 341,743,257

Graduate Student Salaries 21,161 2,846,444 18,419 0 2,886,024 0 2,886,024Nursing MNA Salaries 33,932,119 293,047 31,156 0 34,256,322 0 34,256,322Other Staff Salaries 46,020,639 21,329,853 5,936,693 34,475 73,321,660 0 73,321,660Faculty Salaries & Incentives 798,328 45,542,043 132,763 0 46,473,134 0 46,473,134House Officer Salaries 5,485,078 409,433 0 0 5,894,511 0 5,894,511AFSCME Salaries 3,954,739 198,383 3,189 0 4,156,312 0 4,156,312Fringe Benefits 28,789,370 16,446,958 1,819,029 9,421 47,064,777 0 47,064,777Total Payroll 119,001,434 87,066,162 7,941,249 43,896 214,052,740 0 214,052,740

Supplies 58,984,201 9,217,948 112,951 271,274 68,586,374 0 68,586,374Other Expenses 10,859,122 8,901,144 3,477,594 7,710 23,245,569 0 23,245,569Depreciation 16,245,042 3,738,947 19,441 0 20,003,430 0 20,003,430UMHS Service Payments (Out) 20,286,477 7,719,658 0 0 28,006,136 (28,006,136) 0Maintenance & Facility Costs 11,141,971 11,419,175 37,260 3,261 22,601,668 0 22,601,668Total Non-Salary 117,516,813 40,996,872 3,647,246 282,245 162,443,177 (28,006,136) 134,437,041

Total Operating Expenses 236,518,247 128,063,034 11,588,495 326,141 376,495,917 (28,006,136) 348,489,782

Operating Margin 12,930,099 (19,373,219) (250,180) (53,224) (6,746,524) 0 (6,746,524)Operating Margin % 5.2% (17.8)% (2.2)% (19.5)% (1.8)% 0.0% (2.0)%

Other Transactions:UMHS Support (13,563,893) 12,588,043 (650) 976,500 0 0 0Construction Gifts 442 0 0 0 442 0 442Endowment Gifts 54,975 4,631,011 85 0 4,686,071 0 4,686,071Departmental Encumbrances 0 0 0 0 0 0 0Deans Contributions 0 0 0 0 0 0 0Gain & Loss - Capital Asset Disposal (8,295) 24,007 287 0 15,999 0 15,999Interest Expense (3,240,149) (406,306) 0 0 (3,646,455) 0 (3,646,455)Equity Transfers (1,533,266) 1,920,844 (1,808,913) (976,500) (2,397,836) 0 (2,397,836)Investment Income 3,780,979 6,213,359 636,945 255,025 10,886,308 0 10,886,308Other Non-Operating 9,989,159 231,429 0 0 10,220,588 0 10,220,588Non-Operating Income (4,520,049) 25,202,387 (1,172,246) 255,025 19,765,116 0 19,765,116

Total Margin 8,410,050 5,829,168 (1,422,426) 201,801 13,018,592 0 13,018,592Total Margin % 3.4% 5.4% (12.5)% 73.9% 3.5% 0.0% 3.8%

Change in Unrealized Gain & Loss (31,894,496) (49,722,954) (2,677,457) 0 (84,294,907) 0 (84,294,907)

Change in Net Assets (23,484,447) (43,893,786) (4,099,883) 201,801 (71,276,315) 0 (71,276,315)

TOTAL CASH FLOW MARGIN:Margin 8,410,050 5,829,168 (1,422,426) 201,801 13,018,592 0 13,018,592Add Depreciation 16,245,042 3,738,947 19,441 0 20,003,430 0 20,003,430OPEB Annual Expense Adjustment 1,032,818 1,380,000 0 0 2,412,818 0 2,412,818Subtotal 25,687,910 10,948,115 (1,402,985) 201,801 35,434,840 0 35,434,840Total Cash Flow Margin % 10.3% 10.1% (12.4)% 73.9% 9.6% 0.0% 10.4%

32

University of Michigan Health System Change in Net Assets

Income Statement Summary by EntitySep, FY2016 YTDWhole Currency

HHCMedical School &




Patient Care Revenues 713,479,002 118,833,249 0 0 832,312,251 0 832,312,251UMHS Service Payments (In) 8,892,582 41,316,481 30,738,302 0 80,947,366 (80,947,366) 0Tuition & Provost Allocation 0 23,616,087 0 0 23,616,087 0 23,616,087Total Research (Directs & Indirects) 0 105,185,637 0 0 105,185,637 0 105,185,637Gifts & Other Income 10,853,630 37,951,210 (378,553) 818,750 49,245,038 0 49,245,038Total Operating Revenue 733,225,215 326,902,664 30,359,750 818,750 1,091,306,379 (80,947,366) 1,010,359,013

Graduate Student Salaries 41,265 10,572,982 108,032 0 10,722,279 0 10,722,279Nursing MNA Salaries 100,219,883 841,702 89,236 0 101,150,821 0 101,150,821Other Staff Salaries 134,124,935 62,550,409 17,425,751 100,113 214,201,207 0 214,201,207Faculty Salaries & Incentives 2,337,308 132,500,679 223,590 0 135,061,577 0 135,061,577House Officer Salaries 16,564,355 1,239,860 0 0 17,804,215 0 17,804,215AFSCME Salaries 11,803,710 581,574 9,549 0 12,394,833 0 12,394,833Fringe Benefits 84,589,046 49,551,926 5,301,156 28,097 139,470,225 0 139,470,225Total Payroll 349,680,503 257,839,131 23,157,313 128,210 630,805,156 0 630,805,156

Supplies 174,682,077 27,231,041 479,832 813,590 203,206,539 0 203,206,539Other Expenses 30,401,344 30,071,030 8,689,780 8,066 69,170,220 0 69,170,220Depreciation 48,961,307 11,111,245 58,323 0 60,130,875 0 60,130,875UMHS Service Payments (Out) 59,824,623 21,122,743 0 0 80,947,366 (80,947,366) 0Maintenance & Facility Costs 31,774,323 38,608,611 156,943 9,783 70,549,660 0 70,549,660Total Non-Salary 345,643,675 128,144,668 9,384,877 831,439 484,004,659 (80,947,366) 403,057,293

Total Operating Expenses 695,324,178 385,983,799 32,542,190 959,648 1,114,809,815 (80,947,366) 1,033,862,449

Operating Margin 37,901,037 (59,081,135) (2,182,440) (140,898) (23,503,436) 0 (23,503,436)Operating Margin % 5.2% (18.1)% (7.2)% (17.2)% (2.2)% 0.0% (2.3)%

Other Transactions:UMHS Support (40,673,774) 37,807,424 (650) 2,867,000 0 0 0Construction Gifts (4,742) (48,000) 0 0 (52,742) 0 (52,742)Endowment Gifts 84,148 10,291,447 2,265 0 10,377,860 0 10,377,860Departmental Encumbrances 0 0 0 0 0 0 0Deans Contributions 0 0 0 0 0 0 0Gain & Loss - Capital Asset Disposal (380,158) 158,703 457 0 (220,998) 0 (220,998)Interest Expense (9,673,961) (1,244,444) 0 0 (10,918,405) 0 (10,918,405)Equity Transfers (2,618,239) 2,399,155 (1,909,280) (2,929,500) (5,057,864) 0 (5,057,864)Investment Income 10,984,134 18,148,830 636,809 255,078 30,024,851 0 30,024,851Other Non-Operating 9,987,142 463,957 0 0 10,451,099 0 10,451,099Non-Operating Income (32,295,450) 67,977,072 (1,270,399) 192,578 34,603,802 0 34,603,802

Total Margin 5,605,588 8,895,936 (3,452,839) 51,680 11,100,365 0 11,100,365Total Margin % 0.8% 2.7% (11.4)% 6.3% 1.0% 0.0% 1.1%

Change in Unrealized Gain & Loss (31,894,496) (49,722,959) (2,677,457) 0 (84,294,912) 0 (84,294,912)

Change in Net Assets (26,288,909) (40,827,023) (6,130,295) 51,680 (73,194,547) 0 (73,194,547)

TOTAL CASH FLOW MARGIN:Margin 5,605,588 8,895,936 (3,452,839) 51,680 11,100,365 0 11,100,365Add Depreciation 48,961,307 11,111,245 58,323 0 60,130,875 0 60,130,875OPEB Annual Expense Adjustment 2,065,636 4,140,000 0 0 6,205,636 0 6,205,636Subtotal 56,632,531 24,147,181 (3,394,516) 51,680 77,436,877 0 77,436,877Total Cash Flow Margin % 7.7% 7.4% (11.2)% 6.3% 7.1% 0.0% 7.7%

33

University of Michigan Health System - UMHSStatement of Net Assets Balance Sheet Summary

Sep, FY2016Whole Currency

Sep, FY2016 Aug, FY2016Current Month

Change June 30, FY2015Fiscal Year

Change Sep, FY2015Twelve Month

ChangeASSETSCurrent Assets:

Cash 703,903,202 680,645,895 23,257,307 574,760,702 129,142,500 606,771,599 97,131,603Net Patient Receivable 372,081,774 363,197,413 8,884,361 324,291,490 47,790,284 386,710,118 (14,628,344)Accounts Receivable 39,765,811 55,824,131 (16,058,319) 47,131,134 (7,365,323) 36,362,637 3,403,174Due from UMHS Units - Current (0) (0) 0 (0) 0 (0) 0Due from Other UM Units - Current 13,671,554 13,801,218 (129,664) 13,222,573 448,981 10,918,652 2,752,902Due from MS Dean or Department - Current 0 0 0 0 0 0 0Other Current Assets 74,257,873 75,908,197 (1,650,324) 61,396,200 12,861,673 62,506,218 11,751,655

Total Current Assets 1,203,680,214 1,189,376,854 14,303,360 1,020,802,100 182,878,114 1,103,269,224 100,410,991Noncurrent Assets:

Cash & Investments - Noncurrent 2,913,471,184 2,986,624,218 (73,153,034) 2,993,196,695 (79,725,511) 2,973,190,433 (59,719,249)Construction in Progress 23,102,275 19,378,647 3,723,627 25,034,138 (1,931,864) 27,099,191 (3,996,917)Net Property and Equipment 1,917,458,870 1,929,349,382 (11,890,512) 1,946,066,972 (28,608,102) 2,022,209,303 (104,750,433)Due from UMHS Units - Noncurrent 0 0 0 0 0 0 0Due from Other UM Units - Noncurrent 0 0 0 0 0 0 0Due from MS Dean or Department - Noncurrent 0 0 0 0 0 0 0Other Noncurrent Assets 58,056,065 56,519,593 1,536,472 56,995,848 1,060,217 53,841,288 4,214,777

Total Noncurrent Assets 4,912,088,394 4,991,871,840 (79,783,446) 5,021,293,653 (109,205,259) 5,076,340,217 (164,251,822)TOTAL ASSETS 6,115,768,609 6,181,248,694 (65,480,086) 6,042,095,753 73,672,855 6,179,609,440 (63,840,832)

LIABILITIESCurrent liabilities:

Accounts Payable 93,921,475 90,788,594 3,132,881 88,658,382 5,263,093 86,188,446 7,733,029Accrued Payroll and Benefits 177,744,228 169,076,622 8,667,606 161,024,929 16,719,299 176,502,724 1,241,505Departmental Commitments - Current 0 0 0 0 0 0 0Deferred Revenue 125,455,731 133,538,692 (8,082,961) 69,125,673 56,330,058 115,478,510 9,977,221Short-term Debt 0 0 0 0 0 0 0Third Party Settlements 77,895,330 76,917,408 977,922 14,242,260 63,653,070 93,516,355 (15,621,025)Due to UMHS Units - Current (0) (0) 0 0 (0) (0) 0Due to Other UM Units - Current (0) 1,312,037 (1,312,037) 1,312,037 (1,312,037) 1,312,037 (1,312,037)Due to MS Dean or Department - Current 0 0 0 0 0 0 0Other Current Liabilities 6,000,000 6,000,000 0 6,000,000 0 6,000,000 0

Total Current Liabilities 481,016,764 477,633,353 3,383,411 340,363,281 140,653,483 478,998,071 2,018,693Noncurrent Liabilities:

Long-term Debt 1,088,011,547 1,088,011,547 0 1,088,011,547 0 1,125,816,919 (37,805,371)Departmental Commitments - LT 0 0 0 0 0 0 0Post Retirement 604,071,636 601,658,818 2,412,818 597,866,000 6,205,636 599,751,000 4,320,636Due to UMHS Units - Noncurrent (0) (0) 0 (0) 0 0 (0)Due to Other UM Units - Noncurrent 0 0 0 0 0 0 0Due to MS Dean or Department - Noncurrent 0 0 0 0 0 0 0Other Noncurrent Liabilities 32,258,273 32,258,273 0 32,258,273 0 32,555,314 (297,041)

Total Noncurrent Liabilities 1,724,341,457 1,721,928,639 2,412,818 1,718,135,820 6,205,636 1,758,123,233 (33,781,776)TOTAL LIABILITIES 2,205,358,221 2,199,561,992 5,796,229 2,058,499,102 146,859,119 2,237,121,304 (31,763,083)

NET ASSETSTotal Net Assets 3,910,410,388 3,981,686,703 (71,276,315) 3,983,596,652 (73,186,264) 3,942,488,136 (32,077,748)

TOTAL LIABILITIES AND NET ASSETS 6,115,768,609 6,181,248,694 (65,480,086) 6,042,095,753 73,672,855 6,179,609,440 (63,840,832)

34

University of Michigan Health System Statement of Net Assets Balance Sheet by Entity


HHCMedical School &




ASSETSCurrent Assets:

Cash 141,578,435 555,211,253 5,606,993 1,506,521 703,903,202 0 703,903,202Net Patient Receivable 288,981,173 83,100,601 0 0 372,081,774 0 372,081,774Accounts Receivable 6,894,858 28,038,871 560,332 4,271,751 39,765,811 0 39,765,811Due from UMHS Units - Current 511,500 276,500 0 0 788,000 (788,000) (0)Due from Other UM Units - Current 8,431,074 5,240,480 0 0 13,671,554 0 13,671,554Due from MS Dean or Department - Current 0 49,339,749 0 0 49,339,749 (49,339,749) 0Other Current Assets 73,903,840 8,392 3,850 341,791 74,257,873 0 74,257,873

Total Current Assets 520,300,880 721,215,846 6,171,175 6,120,063 1,253,807,964 (50,127,749) 1,203,680,214Noncurrent Assets:

Cash & Investments - Noncurrent 1,089,741,543 1,709,584,005 91,449,098 22,696,538 2,913,471,184 0 2,913,471,184Construction in Progress 17,509,719 4,530,297 1,062,259 0 23,102,275 0 23,102,275Net Property and Equipment 1,436,766,759 478,060,269 1,301,593 1,330,249 1,917,458,870 0 1,917,458,870Due from UMHS Units - Noncurrent 0 210,000 5,122,287 0 5,332,287 (5,332,287) 0Due from Other UM Units - Noncurrent 0 0 0 0 0 0 0Due from MS Dean or Department - Noncurrent 0 318,626,667 0 0 318,626,667 (318,626,667) 0Other Noncurrent Assets 12,819,563 42,016,920 658,459 2,561,123 58,056,065 0 58,056,065

Total Noncurrent Assets 2,556,837,585 2,553,028,157 99,593,696 26,587,910 5,236,047,348 (323,958,953) 4,912,088,394TOTAL ASSETS 3,077,138,465 3,274,244,003 105,764,871 32,707,973 6,489,855,311 (374,086,703) 6,115,768,609


Accounts Payable 67,750,757 13,812,412 1,136,812 11,221,494 93,921,475 0 93,921,475Accrued Payroll and Benefits 100,529,419 70,033,031 7,128,250 53,528 177,744,228 0 177,744,228Departmental Commitments - Current 0 0 0 0 0 0 0Deferred Revenue 88,300 125,367,431 0 0 125,455,731 0 125,455,731Short-term Debt 0 0 0 0 0 0 0Third Party Settlements 77,895,330 0 0 0 77,895,330 0 77,895,330Due to UMHS Units - Current (0) 788,000 0 0 788,000 (788,000) 0Due to Other UM Units - Current (0) 0 0 0 (0) 0 (0)Due to MS Dean or Department - Current 0 49,339,749 0 0 49,339,749 (49,339,749) 0Other Current Liabilities 0 6,000,000 0 0 6,000,000 0 6,000,000

Total Current Liabilities 246,263,805 265,340,623 8,265,062 11,275,022 531,144,513 (50,127,749) 481,016,764Noncurrent Liabilities:

Long-term Debt 942,326,547 145,685,000 0 0 1,088,011,547 0 1,088,011,547Departmental Commitments - LT 0 0 0 0 0 0 0Post Retirement 277,440,636 326,631,000 0 0 604,071,636 0 604,071,636Due to UMHS Units - Noncurrent 3,503,035 1,619,252 0 210,000 5,332,287 (5,332,287) 0Due to Other UM Units - Noncurrent 0 0 0 0 0 0 0Due to MS Dean or Department - Noncurrent 0 318,626,667 0 0 318,626,667 (318,626,667) 0Other Noncurrent Liabilities 32,258,273 0 0 0 32,258,273 0 32,258,273

Total Noncurrent Liabilities 1,255,528,491 792,561,919 0 210,000 2,048,300,410 (323,958,953) 1,724,341,457TOTAL LIABILITIES 1,501,792,297 1,057,902,542 8,265,062 11,485,022 2,579,444,923 (374,086,703) 2,205,358,221

NET ASSETSTotal Net Assets 1,575,346,168 2,216,341,461 97,499,808 21,222,951 3,910,410,388 0 3,910,410,388

TOTAL LIABILITIES AND NET ASSETS 3,077,138,465 3,274,244,003 105,764,871 32,707,973 6,489,855,311 (374,086,703) 6,115,768,609

35

University of Michigan Health System - MS with InstiChange in Net Assets


Whole Currency


Patient Care Revenues 41,877,014 37,058,827 13.0% 118,833,249 110,130,399 7.9% 118,833,249 110,130,399 7.9%UMHS Service Payments (In) 13,493,694 13,118,495 2.9% 41,316,481 38,326,895 7.8% 41,316,481 38,326,895 7.8%Tuition & Provost Allocation 7,895,852 7,417,354 6.5% 23,616,087 22,252,062 6.1% 23,616,087 22,252,062 6.1%Total Research (Directs & Indirects) 33,588,417 34,239,878 (1.9)% 105,185,637 100,941,736 4.2% 105,185,637 100,941,736 4.2%Gifts & Other Income 11,834,838 8,311,366 42.4% 37,951,210 29,414,607 29.0% 37,951,210 29,414,607 29.0%Total Operating Revenue 108,689,815 100,145,920 8.5% 326,902,664 301,065,700 8.6% 326,902,664 301,065,700 8.6%

Graduate Student Salaries 2,846,444 2,342,768 (21.5)% 10,572,982 9,989,871 (5.8)% 10,572,982 9,989,871 (5.8)%Nursing MNA Salaries 293,047 266,806 (9.8)% 841,702 745,630 (12.9)% 841,702 745,630 (12.9)%Other Staff Salaries 21,329,853 19,591,276 (8.9)% 62,550,409 58,466,515 (7.0)% 62,550,409 58,466,515 (7.0)%Faculty Salaries & Incentives 45,542,043 42,131,707 (8.1)% 132,500,679 124,656,627 (6.3)% 132,500,679 124,656,627 (6.3)%House Officer Salaries 409,433 336,392 (21.7)% 1,239,860 1,113,810 (11.3)% 1,239,860 1,113,810 (11.3)%AFSCME Salaries 198,383 104,975 (89.0)% 581,574 327,077 (77.8)% 581,574 327,077 (77.8)%Fringe Benefits 16,446,958 14,306,742 (15.0)% 49,551,926 43,582,858 (13.7)% 49,551,926 43,582,858 (13.7)%Total Payroll 87,066,162 79,080,666 (10.1)% 257,839,131 238,882,389 (7.9)% 257,839,131 238,882,389 (7.9)%

Supplies 9,217,948 8,505,689 (8.4)% 27,231,041 24,211,324 (12.5)% 27,231,041 24,211,324 (12.5)%Other Expenses 8,901,144 10,883,185 18.2% 30,071,030 29,628,913 (1.5)% 30,071,030 29,628,913 (1.5)%Depreciation 3,738,947 3,562,636 (4.9)% 11,111,245 10,683,382 (4.0)% 11,111,245 10,683,382 (4.0)%UMHS Service Payments (Out) 7,719,658 7,374,727 (4.7)% 21,122,743 21,376,667 1.2% 21,122,743 21,376,667 1.2%Maintenance & Facility Costs 11,419,175 14,599,799 21.8% 38,608,611 39,838,994 3.1% 38,608,611 39,838,994 3.1%Total Non-Salary 40,996,872 44,926,036 8.7% 128,144,668 125,739,282 (1.9)% 128,144,668 125,739,282 (1.9)%

Total Operating Expenses 128,063,034 124,006,702 (3.3)% 385,983,799 364,621,670 (5.9)% 385,983,799 364,621,670 (5.9)%

Operating Margin (19,373,219) (23,860,782) 18.8% (59,081,135) (63,555,970) 7.0% (59,081,135) (63,555,970) 7.0%Operating Margin % (17.8)% (23.8)% (18.1)% (21.1)% (18.1)% (21.1)%

Other Transactions:UMHS Support 12,588,043 10,927,665 15.2% 37,807,424 32,770,404 15.4% 37,807,424 32,770,404 15.4%Construction Gifts 0 100 0.0% (48,000) 302 (16,007.7)% (48,000) 302 (16,007.7)%Endowment Gifts 4,631,011 809,562 472.0% 10,291,447 1,704,605 503.7% 10,291,447 1,704,605 503.7%Departmental Encumbrances 0 0 0.0% 0 0 0.0% 0 0 0.0%Deans Contributions 0 0 0.0% 0 0 0.0% 0 0 0.0%Gain & Loss - Capital Asset Disposal 24,007 (13,921) 272.4% 158,703 (87,098) 282.2% 158,703 (87,098) 282.2%Interest Expense (406,306) (447,784) 9.3% (1,244,444) (1,553,039) 19.9% (1,244,444) (1,553,039) 19.9%Equity Transfers 1,920,844 (463,668) 514.3% 2,399,155 (2,581,745) 192.9% 2,399,155 (2,581,745) 192.9%Investment Income 6,213,359 5,694,977 9.1% 18,148,830 17,238,303 5.3% 18,148,830 17,238,303 5.3%Other Non-Operating 231,429 178,774 29.5% 463,957 634,815 (26.9)% 463,957 634,815 (26.9)%Non-Operating Income 25,202,387 16,685,704 51.0% 67,977,072 48,126,547 41.2% 67,977,072 48,126,547 41.2%



Change in Net Assets (43,893,786) 4,050,562 (1,183.6)% (40,827,023) (4,204,135) (871.1)% (40,827,023) (4,204,135) (871.1)%

TOTAL CASH FLOW MARGIN:Margin 5,829,168 (7,175,079) 181.2% 8,895,936 (15,429,423) 157.7% 8,895,936 (15,429,423) 157.7%Add Depreciation 3,738,947 3,562,636 4.9% 11,111,245 10,683,382 4.0% 11,111,245 10,683,382 4.0%OPEB Annual Expense Adjustment 1,380,000 416,667 231.2% 4,140,000 1,250,000 231.2% 4,140,000 1,250,000 231.2%Subtotal 10,948,115 (3,195,776) 442.6% 24,147,181 (3,496,041) 790.7% 24,147,181 (3,496,041) 790.7%Total Cash Flow Margin % 10.1% (3.2)% 7.4% (1.2)% 7.4% (1.2)%

36

University of Michigan Health System - MS with InstiStatement of Net Assets Balance Sheet Summary






Cash 555,211,253 563,358,636 (8,147,383) 487,859,602 67,351,651 505,252,793 49,958,460Net Patient Receivable 83,100,601 76,427,152 6,673,449 66,605,171 16,495,430 67,973,972 15,126,628Accounts Receivable 28,038,871 37,901,777 (9,862,906) 36,048,216 (8,009,345) 23,869,855 4,169,016Due from UMHS Units - Current 276,500 276,500 0 9,162,545 (8,886,045) 1,000,000 (723,500)Due from Other UM Units - Current 5,240,480 5,356,089 (115,609) 5,587,307 (346,827) 4,099,163 1,141,317Due from MS Dean or Department - Current 49,339,749 51,003,249 (1,663,500) 43,855,749 5,484,000 34,250,814 15,088,935Other Current Assets 8,392 718,708 (710,316) 8,392 0 6,750 1,642

Total Current Assets 721,215,846 735,042,111 (13,826,266) 649,126,981 72,088,865 636,453,347 84,762,498Noncurrent Assets:

Cash & Investments - Noncurrent 1,709,584,005 1,747,900,101 (38,316,095) 1,754,480,864 (44,896,858) 1,731,972,517 (22,388,511)Construction in Progress 4,530,297 2,264,824 2,265,473 3,938,473 591,824 18,799,212 (14,268,915)Net Property and Equipment 478,060,269 479,850,887 (1,790,618) 485,054,760 (6,994,491) 483,043,972 (4,983,703)Due from UMHS Units - Noncurrent 210,000 210,000 0 210,000 0 497,500 (287,500)Due from Other UM Units - Noncurrent 0 0 0 0 0 0 0Due from MS Dean or Department - Noncurrent 318,626,667 324,386,728 (5,760,061) 312,424,289 6,202,378 230,073,453 88,553,214Other Noncurrent Assets 42,016,920 40,417,971 1,598,949 40,782,824 1,234,096 30,542,661 11,474,258

Total Noncurrent Assets 2,553,028,157 2,595,030,510 (42,002,353) 2,596,891,209 (43,863,052) 2,494,929,315 58,098,842TOTAL ASSETS 3,274,244,003 3,330,072,622 (55,828,619) 3,246,018,190 28,225,813 3,131,382,662 142,861,341


Accounts Payable 13,812,412 12,950,637 861,775 14,879,071 (1,066,659) 17,184,516 (3,372,104)Accrued Payroll and Benefits 70,033,031 68,797,690 1,235,341 72,568,366 (2,535,335) 69,897,870 135,161Departmental Commitments - Current 0 0 0 0 0 0 0Deferred Revenue 125,367,431 133,526,319 (8,158,888) 69,050,479 56,316,952 115,423,460 9,943,970Short-term Debt 0 0 0 0 0 0 0Third Party Settlements 0 0 0 0 0 0 0Due to UMHS Units - Current 788,000 617,500 170,500 276,500 511,500 1,750,000 (962,000)Due to Other UM Units - Current 0 0 0 0 0 0 0Due to MS Dean or Department - Current 49,339,749 51,003,249 (1,663,500) 43,855,749 5,484,000 34,250,814 15,088,935Other Current Liabilities 6,000,000 6,000,000 0 6,000,000 0 6,000,000 0

Total Current Liabilities 265,340,623 272,895,395 (7,554,772) 206,630,165 58,710,458 244,506,660 20,833,963Noncurrent Liabilities:

Long-term Debt 145,685,000 145,685,000 0 145,685,000 0 154,066,841 (8,381,841)Departmental Commitments - LT 0 0 0 0 0 0 0Post Retirement 326,631,000 325,251,000 1,380,000 322,491,000 4,140,000 319,924,000 6,707,000Due to UMHS Units - Noncurrent 1,619,252 1,619,252 0 1,619,252 0 2,001,468 (382,216)Due to Other UM Units - Noncurrent 0 0 0 0 0 0 0Due to MS Dean or Department - Noncurrent 318,626,667 324,386,728 (5,760,061) 312,424,289 6,202,378 230,073,453 88,553,214Other Noncurrent Liabilities 0 0 0 0 0 0 0

Total Noncurrent Liabilities 792,561,919 796,941,980 (4,380,061) 782,219,541 10,342,378 706,065,763 86,496,156TOTAL LIABILITIES 1,057,902,542 1,069,837,374 (11,934,833) 988,849,706 69,052,836 950,572,423 107,330,119

NET ASSETSTotal Net Assets 2,216,341,461 2,260,235,247 (43,893,786) 2,257,168,484 (40,827,023) 2,180,810,239 35,531,222

TOTAL LIABILITIES AND NET ASSETS 3,274,244,003 3,330,072,622 (55,828,619) 3,246,018,190 28,225,813 3,131,382,662 142,861,341

37

University of Michigan Health System - HHCChange in Net Assets


Whole Currency


Patient Care Revenues 242,510,392 217,792,694 11.3% 713,479,002 656,812,600 8.6% 713,479,002 656,812,600 8.6%UMHS Service Payments (In) 3,332,503 2,767,277 20.4% 8,892,582 8,886,960 0.1% 8,892,582 8,886,960 0.1%Tuition & Provost Allocation 0 0 0.0% 0 0 0.0% 0 0 0.0%Total Research (Directs & Indirects) 0 0 0.0% 0 0 0.0% 0 0 0.0%Gifts & Other Income 3,605,453 3,852,310 (6.4)% 10,853,630 8,565,256 26.7% 10,853,630 8,565,256 26.7%Total Operating Revenue 249,448,347 224,412,280 11.2% 733,225,215 674,264,816 8.7% 733,225,215 674,264,816 8.7%

Graduate Student Salaries 21,161 19,279 (9.8)% 41,265 46,674 11.6% 41,265 46,674 11.6%Nursing MNA Salaries 33,932,119 32,424,810 (4.6)% 100,219,883 96,378,018 (4.0)% 100,219,883 96,378,018 (4.0)%Other Staff Salaries 46,020,639 42,563,888 (8.1)% 134,124,935 123,378,977 (8.7)% 134,124,935 123,378,977 (8.7)%Faculty Salaries & Incentives 798,328 689,470 (15.8)% 2,337,308 2,690,783 13.1% 2,337,308 2,690,783 13.1%House Officer Salaries 5,485,078 5,243,342 (4.6)% 16,564,355 16,652,275 0.5% 16,564,355 16,652,275 0.5%AFSCME Salaries 3,954,739 4,010,553 1.4% 11,803,710 12,699,460 7.1% 11,803,710 12,699,460 7.1%Fringe Benefits 28,789,370 26,295,801 (9.5)% 84,589,046 78,180,319 (8.2)% 84,589,046 78,180,319 (8.2)%Total Payroll 119,001,434 111,247,144 (7.0)% 349,680,503 330,026,507 (6.0)% 349,680,503 330,026,507 (6.0)%

Supplies 58,984,201 48,137,992 (22.5)% 174,682,077 147,161,122 (18.7)% 174,682,077 147,161,122 (18.7)%Other Expenses 10,859,122 15,651,796 30.6% 30,401,344 36,517,584 16.7% 30,401,344 36,517,584 16.7%Depreciation 16,245,042 17,937,004 9.4% 48,961,307 50,841,659 3.7% 48,961,307 50,841,659 3.7%UMHS Service Payments (Out) 20,286,477 19,859,743 (2.1)% 59,824,623 56,578,662 (5.7)% 59,824,623 56,578,662 (5.7)%Maintenance & Facility Costs 11,141,971 8,942,802 (24.6)% 31,774,323 33,214,364 4.3% 31,774,323 33,214,364 4.3%Total Non-Salary 117,516,813 110,529,337 (6.3)% 345,643,675 324,313,390 (6.6)% 345,643,675 324,313,390 (6.6)%


Operating Margin 12,930,099 2,635,799 390.6% 37,901,037 19,924,919 90.2% 37,901,037 19,924,919 90.2%Operating Margin % 5.2% 1.2% 5.2% 3.0% 5.2% 3.0%

Other Transactions:UMHS Support (13,563,893) (11,727,665) (15.7)% (40,673,774) (33,255,404) (22.3)% (40,673,774) (33,255,404) (22.3)%Construction Gifts 442 422 4.5% (4,742) (91,488) 94.8% (4,742) (91,488) 94.8%Endowment Gifts 54,975 5,050 988.6% 84,148 99,145 (15.1)% 84,148 99,145 (15.1)%Departmental Encumbrances 0 0 0.0% 0 0 0.0% 0 0 0.0%Deans Contributions 0 0 0.0% 0 0 0.0% 0 0 0.0%Gain & Loss - Capital Asset Disposal (8,295) (14,013) 40.8% (380,158) (54,022) (603.7)% (380,158) (54,022) (603.7)%Interest Expense (3,240,149) (3,261,068) 0.6% (9,673,961) (9,767,262) 1.0% (9,673,961) (9,767,262) 1.0%Equity Transfers (1,533,266) 383,849 (499.4)% (2,618,239) 82,979 (3,255.3)% (2,618,239) 82,979 (3,255.3)%Investment Income 3,780,979 4,012,723 (5.8)% 10,984,134 11,415,304 (3.8)% 10,984,134 11,415,304 (3.8)%Other Non-Operating 9,989,159 145,050 6,786.7% 9,987,142 358,252 2,687.7% 9,987,142 358,252 2,687.7%Non-Operating Income (4,520,049) (10,455,653) 56.8% (32,295,450) (31,212,496) (3.5)% (32,295,450) (31,212,496) (3.5)%



Change in Net Assets (23,484,447) (409,947) (5,628.6)% (26,288,909) (3,762,377) (598.7)% (26,288,909) (3,762,377) (598.7)%

TOTAL CASH FLOW MARGIN:Margin 8,410,050 (7,819,854) 207.5% 5,605,588 (11,287,577) 149.7% 5,605,588 (11,287,577) 149.7%Add Depreciation 16,245,042 17,937,004 (9.4)% 48,961,307 50,841,659 (3.7)% 48,961,307 50,841,659 (3.7)%OPEB Annual Expense Adjustment 1,032,818 0 0.0% 2,065,636 0 0.0% 2,065,636 0 0.0%Subtotal 25,687,910 10,117,150 153.9% 56,632,531 39,554,082 43.2% 56,632,531 39,554,082 43.2%Total Cash Flow Margin % 10.3% 4.5% 7.7% 5.9% 7.7% 5.9%

38

University of Michigan Health System - HHCStatement of Net Assets Balance Sheet Summary






Cash 141,578,435 107,973,828 33,604,607 73,972,668 67,605,766 94,283,357 47,295,077Net Patient Receivable 288,981,173 286,770,261 2,210,912 257,686,319 31,294,854 318,736,146 (29,754,973)Accounts Receivable 6,894,858 14,264,702 (7,369,844) 7,768,942 (874,084) 7,639,731 (744,873)Due from UMHS Units - Current 511,500 341,000 170,500 (0) 511,500 750,000 (238,500)Due from Other UM Units - Current 8,431,074 8,445,129 (14,055) 7,635,266 795,807 6,819,488 1,611,585Due from MS Dean or Department - Current 0 0 0 0 0 0 0Other Current Assets 73,903,840 74,843,848 (940,008) 61,042,168 12,861,672 62,190,921 11,712,919

Total Current Assets 520,300,880 492,638,767 27,662,112 408,105,364 112,195,516 490,419,644 29,881,236Noncurrent Assets:

Cash & Investments - Noncurrent 1,089,741,543 1,121,303,290 (31,561,747) 1,121,303,287 (31,561,744) 1,123,216,535 (33,474,992)Construction in Progress 17,509,719 16,051,564 1,458,155 20,033,407 (2,523,688) 7,025,955 10,483,764Net Property and Equipment 1,436,766,759 1,446,847,212 (10,080,452) 1,458,322,048 (21,555,288) 1,536,153,888 (99,387,129)Due from UMHS Units - Noncurrent 0 0 0 0 0 0 0Due from Other UM Units - Noncurrent 0 0 0 0 0 0 0Due from MS Dean or Department - Noncurrent 0 0 0 0 0 0 0Other Noncurrent Assets 12,819,563 12,834,314 (14,751) 12,815,043 4,520 19,767,051 (6,947,487)

Total Noncurrent Assets 2,556,837,585 2,597,036,380 (40,198,795) 2,612,473,784 (55,636,199) 2,686,163,429 (129,325,844)TOTAL ASSETS 3,077,138,465 3,089,675,147 (12,536,683) 3,020,579,148 56,559,317 3,176,583,073 (99,444,609)


Accounts Payable 67,750,757 64,725,637 3,025,120 58,978,814 8,771,943 58,141,115 9,609,641Accrued Payroll and Benefits 100,529,419 93,381,405 7,148,014 81,986,866 18,542,553 99,472,468 1,056,951Departmental Commitments - Current 0 0 0 0 0 0 0Deferred Revenue 88,300 12,373 75,927 75,194 13,106 55,049 33,251Short-term Debt 0 0 0 0 0 0 0Third Party Settlements 77,895,330 76,917,408 977,922 14,242,260 63,653,070 93,516,355 (15,621,025)Due to UMHS Units - Current (0) (0) 0 8,886,045 (8,886,045) (0) 0Due to Other UM Units - Current (0) 1,312,037 (1,312,037) 1,312,037 (1,312,037) 1,312,037 (1,312,037)Due to MS Dean or Department - Current 0 0 0 0 0 0 0Other Current Liabilities 0 0 0 0 0 0 0

Total Current Liabilities 246,263,805 236,348,860 9,914,946 165,481,216 80,782,589 252,497,024 (6,233,219)Noncurrent Liabilities:

Long-term Debt 942,326,547 942,326,547 0 942,326,547 0 971,750,077 (29,423,530)Departmental Commitments - LT 0 0 0 0 0 0 0Post Retirement 277,440,636 276,407,818 1,032,818 275,375,000 2,065,636 279,827,000 (2,386,364)Due to UMHS Units - Noncurrent 3,503,035 3,503,035 0 3,503,035 0 3,472,511 30,524Due to Other UM Units - Noncurrent 0 0 0 0 0 0 0Due to MS Dean or Department - Noncurrent 0 0 0 0 0 0 0Other Noncurrent Liabilities 32,258,273 32,258,273 0 32,258,273 0 32,555,314 (297,041)

Total Noncurrent Liabilities 1,255,528,491 1,254,495,673 1,032,818 1,253,462,855 2,065,636 1,287,604,902 (32,076,411)TOTAL LIABILITIES 1,501,792,297 1,490,844,533 10,947,764 1,418,944,071 82,848,226 1,540,101,927 (38,309,630)

NET ASSETSTotal Net Assets 1,575,346,168 1,598,830,614 (23,484,447) 1,601,635,077 (26,288,909) 1,636,481,146 (61,134,979)

TOTAL LIABILITIES AND NET ASSETS 3,077,138,465 3,089,675,147 (12,536,683) 3,020,579,148 56,559,317 3,176,583,073 (99,444,609)

39

University of Michigan Health System - UH CVCChange in Net Assets

Income Statement SummarySeptember 30, FY2016

Whole Currency

Current Month Quarter-to-Date Year-to-DateFY2016 FY2015 % Chg FY2016 FY2015 % Chg FY2016 FY2015 % Chg

Patient Care Revenues 116,585,417 105,215,115 10.8% 333,228,432 324,082,239 2.8% 333,228,432 324,082,239 2.8%UMHS Service Payments (In) 71,894 44,886 60.2% 187,191 131,694 42.1% 187,191 131,694 42.1%Tuition & Provost Allocation 0 0 0.0% 0 0 0.0% 0 0 0.0%Total Research (Directs & Indirects) 0 0 0.0% 0 0 0.0% 0 0 0.0%Gifts & Other Income 493,251 1,297,274 (62.0)% 5,593,152 3,595,579 55.6% 5,593,152 3,595,579 55.6%Total Operating Revenue 117,150,562 106,557,275 9.9% 339,008,775 327,809,511 3.4% 339,008,775 327,809,511 3.4%

Graduate Student Salaries 20,919 16,907 (23.7)% 40,385 39,653 (1.8)% 40,385 39,653 (1.8)%Nursing MNA Salaries 18,533,694 17,514,833 (5.8)% 54,199,576 51,645,458 (4.9)% 54,199,576 51,645,458 (4.9)%Other Staff Salaries 18,772,694 17,561,795 (6.9)% 54,123,326 50,794,079 (6.6)% 54,123,326 50,794,079 (6.6)%Faculty Salaries & Incentives 212,419 204,563 (3.8)% 601,768 600,706 (0.2)% 601,768 600,706 (0.2)%House Officer Salaries 4,374,853 4,252,379 (2.9)% 13,358,430 12,886,403 (3.7)% 13,358,430 12,886,403 (3.7)%AFSCME Salaries 2,999,782 3,005,862 0.2% 8,922,092 9,495,355 6.0% 8,922,092 9,495,355 6.0%Fringe Benefits 14,583,908 12,958,936 (12.5)% 41,980,462 38,245,770 (9.8)% 41,980,462 38,245,770 (9.8)%Total Payroll 59,498,270 55,515,276 (7.2)% 173,226,040 163,707,424 (5.8)% 173,226,040 163,707,424 (5.8)%

Supplies 25,276,978 20,166,433 (25.3)% 68,541,228 65,624,290 (4.4)% 68,541,228 65,624,290 (4.4)%Other Expenses 4,143,924 5,839,514 29.0% 10,631,515 12,782,981 16.8% 10,631,515 12,782,981 16.8%Depreciation 4,808,541 5,567,084 13.6% 14,362,015 15,195,988 5.5% 14,362,015 15,195,988 5.5%UMHS Service Payments (Out) 7,989,262 8,033,148 0.5% 25,187,429 23,146,565 (8.8)% 25,187,429 23,146,565 (8.8)%Maintenance & Facility Costs 6,858,801 5,990,314 (14.5)% 19,727,429 20,518,129 3.9% 19,727,429 20,518,129 3.9%Total Non-Salary 49,077,507 45,596,493 (7.6)% 138,449,616 137,267,954 (0.9)% 138,449,616 137,267,954 (0.9)%



Other Transactions:UMHS Support (13,651,499) (11,341,721) (20.4)% (40,822,928) (32,823,153) (24.4)% (40,822,928) (32,823,153) (24.4)%Construction Gifts (879) (774) (13.5)% (28,533) (885,219) 96.8% (28,533) (885,219) 96.8%Endowment Gifts 0 25 0.0% 5,525 16,235 (66.0)% 5,525 16,235 (66.0)%Departmental Encumbrances 0 0 0.0% 0 0 0.0% 0 0 0.0%Deans Contributions 0 0 0.0% 0 0 0.0% 0 0 0.0%Gain & Loss - Capital Asset Disposal 726 (369) 296.6% (317,951) 9,019 (3,625.3)% (317,951) 9,019 (3,625.3)%Interest Expense (3,019,505) (3,069,824) 1.6% (9,026,849) (9,198,999) 1.9% (9,026,849) (9,198,999) 1.9%Equity Transfers (192,083,940) 687,754 (28,029.2)% (230,552,847) (9,909,658) (2,226.5)% (230,552,847) (9,909,658) (2,226.5)%Investment Income 3,625,288 3,858,696 (6.0)% 10,827,901 11,260,956 (3.8)% 10,827,901 11,260,956 (3.8)%Other Non-Operating 10,000,000 145,050 6,794.2% 9,997,983 306,774 3,159.1% 9,997,983 306,774 3,159.1%Non-Operating Income (195,129,808) (9,721,164) (1,907.3)% (259,917,698) (41,224,045) (530.5)% (259,917,698) (41,224,045) (530.5)%

Total Margin (186,555,023) (4,275,657) (4,263.2)% (232,584,578) (14,389,911) (1,516.3)% (232,584,578) (14,389,911) (1,516.3)%Total Margin % (159.2)% (4.0)% (68.6)% (4.4)% (68.6)% (4.4)%


Change in Net Assets (218,225,670) 3,082,369 (7,179.8)% (264,255,225) (7,031,884) (3,658.0)% (264,255,225) (7,031,884) (3,658.0)%

TOTAL CASH FLOW MARGIN:Margin (186,555,023) (4,275,657) (4,263.2)% (232,584,578) (14,389,911) (1,516.3)% (232,584,578) (14,389,911) (1,516.3)%Add Depreciation 4,808,541 5,567,084 (13.6)% 14,362,015 15,195,988 (5.5)% 14,362,015 15,195,988 (5.5)%OPEB Annual Expense Adjustment 1,032,818 0 0.0% 2,065,636 0 0.0% 2,065,636 0 0.0%Subtotal (180,713,663) 1,291,427 (14,093.3)% (216,156,927) 806,078 (26,915.9)% (216,156,927) 806,078 (26,915.9)%Total Cash Flow Margin % (154.3)% 1.2% (63.8)% 0.2% (63.8)% 0.2%

40

University of Michigan Health System - CWChange in Net Assets


Whole Currency


Patient Care Revenues 33,914,808 35,469,683 (4.4)% 106,703,981 104,829,763 1.8% 106,703,981 104,829,763 1.8%UMHS Service Payments (In) 0 0 0.0% 0 0 0.0% 0 0 0.0%Tuition & Provost Allocation 0 0 0.0% 0 0 0.0% 0 0 0.0%Total Research (Directs & Indirects) 0 0 0.0% 0 0 0.0% 0 0 0.0%Gifts & Other Income 199,063 124,333 60.1% 596,978 441,586 35.2% 596,978 441,586 35.2%Total Operating Revenue 34,113,871 35,594,016 (4.2)% 107,300,959 105,271,348 1.9% 107,300,959 105,271,348 1.9%

Graduate Student Salaries 0 0 0.0% 0 0 0.0% 0 0 0.0%Nursing MNA Salaries 8,161,930 8,185,561 0.3% 24,454,776 24,278,911 (0.7)% 24,454,776 24,278,911 (0.7)%Other Staff Salaries 4,380,524 4,146,242 (5.7)% 12,730,009 12,073,889 (5.4)% 12,730,009 12,073,889 (5.4)%Faculty Salaries & Incentives 45,197 44,049 (2.6)% 135,732 151,681 10.5% 135,732 151,681 10.5%House Officer Salaries 1,071,260 963,902 (11.1)% 3,098,971 2,828,967 (9.5)% 3,098,971 2,828,967 (9.5)%AFSCME Salaries 763,902 803,010 4.9% 2,304,175 2,561,195 10.0% 2,304,175 2,561,195 10.0%Fringe Benefits 4,446,688 4,256,669 (4.5)% 13,149,514 12,625,087 (4.2)% 13,149,514 12,625,087 (4.2)%Total Payroll 18,869,500 18,399,434 (2.6)% 55,873,176 54,519,730 (2.5)% 55,873,176 54,519,730 (2.5)%

Supplies 4,867,507 5,312,408 8.4% 16,818,283 15,559,301 (8.1)% 16,818,283 15,559,301 (8.1)%Other Expenses 599,301 155,756 (284.8)% 1,884,922 933,597 (101.9)% 1,884,922 933,597 (101.9)%Depreciation 3,563,095 3,774,610 5.6% 10,751,105 10,734,335 (0.2)% 10,751,105 10,734,335 (0.2)%UMHS Service Payments (Out) 1,108,326 1,133,832 2.2% 3,248,158 3,168,049 (2.5)% 3,248,158 3,168,049 (2.5)%Maintenance & Facility Costs 799,024 697,435 (14.6)% 2,171,288 2,203,723 1.5% 2,171,288 2,203,723 1.5%Total Non-Salary 10,937,253 11,074,042 1.2% 34,873,756 32,599,006 (7.0)% 34,873,756 32,599,006 (7.0)%


Operating Margin 4,307,118 6,120,541 (29.6)% 16,554,027 18,152,612 (8.8)% 16,554,027 18,152,612 (8.8)%Operating Margin % 12.6% 17.2% 15.4% 17.2% 15.4% 17.2%

Other Transactions:UMHS Support 0 (2,064) 0.0% 100,000 100,015 (0.0)% 100,000 100,015 (0.0)%Construction Gifts 1,320 1,197 10.3% 23,791 793,732 (97.0)% 23,791 793,732 (97.0)%Endowment Gifts 54,975 5,025 994.0% 78,623 82,910 (5.2)% 78,623 82,910 (5.2)%Departmental Encumbrances 0 0 0.0% 0 0 0.0% 0 0 0.0%Deans Contributions 0 0 0.0% 0 0 0.0% 0 0 0.0%Gain & Loss - Capital Asset Disposal (8,454) (2,125) (297.9)% (9,844) (2,178) (352.0)% (9,844) (2,178) (352.0)%Interest Expense (1,865) (206) (806.3)% (5,594) (617) (806.3)% (5,594) (617) (806.3)%Equity Transfers 95,949 (721,799) 113.3% 473,686 1,456,862 (67.5)% 473,686 1,456,862 (67.5)%Investment Income 151,904 150,682 0.8% 152,395 151,004 0.9% 152,395 151,004 0.9%Other Non-Operating (10,841) 0 0.0% (10,841) 0 0.0% (10,841) 0 0.0%Non-Operating Income 282,989 (569,290) 149.7% 802,215 2,581,728 (68.9)% 802,215 2,581,728 (68.9)%

Total Margin 4,590,106 5,551,251 (17.3)% 17,356,242 20,734,340 (16.3)% 17,356,242 20,734,340 (16.3)%Total Margin % 13.5% 15.6% 16.2% 19.7% 16.2% 19.7%

Change in Unrealized Gain & Loss (214,121) 49,610 (531.6)% (214,121) 164,903 (229.8)% (214,121) 164,903 (229.8)%

Change in Net Assets 4,375,985 5,600,861 (21.9)% 17,142,121 20,899,243 (18.0)% 17,142,121 20,899,243 (18.0)%

TOTAL CASH FLOW MARGIN:Margin 4,590,106 5,551,251 (17.3)% 17,356,242 20,734,340 (16.3)% 17,356,242 20,734,340 (16.3)%Add Depreciation 3,563,095 3,774,610 (5.6)% 10,751,105 10,734,335 0.2% 10,751,105 10,734,335 0.2%OPEB Annual Expense Adjustment 0 0 0.0% 0 0 0.0% 0 0 0.0%Subtotal 8,153,202 9,325,861 (12.6)% 28,107,347 31,468,675 (10.7)% 28,107,347 31,468,675 (10.7)%Total Cash Flow Margin % 23.9% 26.2% 26.2% 29.9% 26.2% 29.9%

41

University of Michigan Health System - Ambulatory CareChange in Net Assets


Whole Currency


Patient Care Revenues 92,010,167 77,107,895 19.3% 273,546,589 227,900,599 20.0% 273,546,589 227,900,599 20.0%UMHS Service Payments (In) 2,722,391 2,722,391 0.0% 8,167,173 8,167,173 0.0% 8,167,173 8,167,173 0.0%Tuition & Provost Allocation 0 0 0.0% 0 0 0.0% 0 0 0.0%Total Research (Directs & Indirects) 0 0 0.0% 0 0 0.0% 0 0 0.0%Gifts & Other Income 2,319,826 2,344,364 (1.0)% 3,670,768 3,231,552 13.6% 3,670,768 3,231,552 13.6%Total Operating Revenue 97,052,384 82,174,650 18.1% 285,384,530 239,299,324 19.3% 285,384,530 239,299,324 19.3%

Graduate Student Salaries 242 2,371 89.8% 880 7,021 87.5% 880 7,021 87.5%Nursing MNA Salaries 7,186,858 6,686,761 (7.5)% 21,420,122 20,029,805 (6.9)% 21,420,122 20,029,805 (6.9)%Other Staff Salaries 16,272,378 15,160,232 (7.3)% 48,060,174 44,609,297 (7.7)% 48,060,174 44,609,297 (7.7)%Faculty Salaries & Incentives 392,509 289,805 (35.4)% 1,107,043 831,204 (33.2)% 1,107,043 831,204 (33.2)%House Officer Salaries 38,965 25,560 (52.4)% 106,954 81,067 (31.9)% 106,954 81,067 (31.9)%AFSCME Salaries 68,675 81,271 15.5% 199,726 264,556 24.5% 199,726 264,556 24.5%Fringe Benefits 7,808,924 7,359,902 (6.1)% 23,456,148 21,830,096 (7.4)% 23,456,148 21,830,096 (7.4)%Total Payroll 31,768,551 29,605,903 (7.3)% 94,351,046 87,653,046 (7.6)% 94,351,046 87,653,046 (7.6)%

Supplies 28,544,020 22,164,877 (28.8)% 88,712,611 65,251,299 (36.0)% 88,712,611 65,251,299 (36.0)%Other Expenses 5,150,089 5,076,550 (1.4)% 14,503,215 14,710,967 1.4% 14,503,215 14,710,967 1.4%Depreciation 3,178,316 3,718,361 14.5% 9,645,288 10,359,231 6.9% 9,645,288 10,359,231 6.9%UMHS Service Payments (Out) 6,146,078 6,325,632 2.8% 17,785,627 17,620,235 (0.9)% 17,785,627 17,620,235 (0.9)%Maintenance & Facility Costs 1,462,251 1,624,834 10.0% 4,365,760 4,557,105 4.2% 4,365,760 4,557,105 4.2%Total Non-Salary 44,480,754 38,910,253 (14.3)% 135,012,501 112,498,837 (20.0)% 135,012,501 112,498,837 (20.0)%



Other Transactions:UMHS Support 51,519 (415,332) 112.4% (10,600) (646,360) 98.4% (10,600) (646,360) 98.4%Construction Gifts 0 0 0.0% 0 0 0.0% 0 0 0.0%Endowment Gifts 0 0 0.0% 0 0 0.0% 0 0 0.0%Departmental Encumbrances 0 0 0.0% 0 0 0.0% 0 0 0.0%Deans Contributions 0 0 0.0% 0 0 0.0% 0 0 0.0%Gain & Loss - Capital Asset Disposal (459) (9,077) 94.9% (18,607) (10,579) (75.9)% (18,607) (10,579) (75.9)%Interest Expense (218,779) (191,038) (14.5)% (641,518) (567,646) (13.0)% (641,518) (567,646) (13.0)%Equity Transfers 192,231,428 (1,521,701) 12,732.7% 199,773,909 5,011,858 3,886.0% 199,773,909 5,011,858 3,886.0%Investment Income 3,765 3,311 13.7% 3,776 3,250 16.2% 3,776 3,250 16.2%Other Non-Operating 0 0 0.0% 0 0 0.0% 0 0 0.0%Non-Operating Income 192,067,475 (2,133,837) 9,101.0% 199,106,960 3,790,523 5,152.8% 199,106,960 3,790,523 5,152.8%

Total Margin 212,870,554 11,524,656 1,747.1% 255,127,943 42,937,964 494.2% 255,127,943 42,937,964 494.2%Total Margin % 219.3% 14.0% 89.4% 17.9% 89.4% 17.9%

Change in Unrealized Gain & Loss (9,729) 2,270 (528.5)% (9,729) 2,270 (528.5)% (9,729) 2,270 (528.5)%

Change in Net Assets 212,860,825 11,526,927 1,746.6% 255,118,214 42,940,234 494.1% 255,118,214 42,940,234 494.1%

TOTAL CASH FLOW MARGIN:Margin 212,870,554 11,524,656 1,747.1% 255,127,943 42,937,964 494.2% 255,127,943 42,937,964 494.2%Add Depreciation 3,178,316 3,718,361 (14.5)% 9,645,288 10,359,231 (6.9)% 9,645,288 10,359,231 (6.9)%OPEB Annual Expense Adjustment 0 0 0.0% 0 0 0.0% 0 0 0.0%Subtotal 216,048,869 15,243,017 1,317.4% 264,773,231 53,297,195 396.8% 264,773,231 53,297,195 396.8%

Total Cash Flow Margin % 222.6% 18.5% 92.8% 22.3% 92.8% 22.3%

42

University of Michigan Health System - Other Support ServicesChange in Net Assets


Whole Currency


Patient Care Revenues 0 0 0.0% 0 0 0.0% 0 0 0.0%UMHS Service Payments (In) 538,218 0 0.0% 538,218 588,093 (8.5)% 538,218 588,093 (8.5)%Tuition & Provost Allocation 0 0 0.0% 0 0 0.0% 0 0 0.0%Total Research (Directs & Indirects) 0 0 0.0% 0 0 0.0% 0 0 0.0%Gifts & Other Income 593,313 86,339 587.2% 992,732 1,296,539 (23.4)% 992,732 1,296,539 (23.4)%Total Operating Revenue 1,131,531 86,339 1,210.6% 1,530,950 1,884,632 (18.8)% 1,530,950 1,884,632 (18.8)%

Graduate Student Salaries 0 0 0.0% 0 0 0.0% 0 0 0.0%Nursing MNA Salaries 49,637 37,655 (31.8)% 145,409 423,845 65.7% 145,409 423,845 65.7%Other Staff Salaries 6,595,043 5,695,619 (15.8)% 19,211,426 15,901,711 (20.8)% 19,211,426 15,901,711 (20.8)%Faculty Salaries & Incentives 148,204 151,053 1.9% 492,766 1,107,192 55.5% 492,766 1,107,192 55.5%House Officer Salaries 0 1,500 0.0% 0 855,838 0.0% 0 855,838 0.0%AFSCME Salaries 122,380 120,410 (1.6)% 377,717 378,355 0.2% 377,717 378,355 0.2%Fringe Benefits 1,949,850 1,720,294 (13.3)% 6,002,922 5,479,365 (9.6)% 6,002,922 5,479,365 (9.6)%Total Payroll 8,865,114 7,726,531 (14.7)% 26,230,241 24,146,307 (8.6)% 26,230,241 24,146,307 (8.6)%

Supplies 295,696 494,274 40.2% 609,955 726,231 16.0% 609,955 726,231 16.0%Other Expenses 965,807 4,579,977 78.9% 3,381,693 8,090,039 58.2% 3,381,693 8,090,039 58.2%Depreciation 4,695,090 4,876,949 3.7% 14,202,899 14,552,104 2.4% 14,202,899 14,552,104 2.4%UMHS Service Payments (Out) 5,042,811 4,367,131 (15.5)% 13,603,409 12,643,812 (7.6)% 13,603,409 12,643,812 (7.6)%Maintenance & Facility Costs 2,021,896 630,219 (220.8)% 5,509,846 5,935,406 7.2% 5,509,846 5,935,406 7.2%Total Non-Salary 13,021,300 14,948,549 12.9% 37,307,802 41,947,593 11.1% 37,307,802 41,947,593 11.1%

Total Operating Expenses 21,886,413 22,675,081 3.5% 63,538,043 66,093,900 3.9% 63,538,043 66,093,900 3.9%

Operating Margin (20,754,882) (22,588,742) 8.1% (62,007,092) (64,209,268) 3.4% (62,007,092) (64,209,268) 3.4%Operating Margin % (1,834.2)% (26,162.8)% (4,050.2)% (3,407.0)% (4,050.2)% (3,407.0)%

Other Transactions:UMHS Support 36,086 31,451 14.7% 59,754 114,093 (47.6)% 59,754 114,093 (47.6)%Construction Gifts 0 0 0.0% 0 0 0.0% 0 0 0.0%Endowment Gifts 0 0 0.0% 0 0 0.0% 0 0 0.0%Departmental Encumbrances 0 0 0.0% 0 0 0.0% 0 0 0.0%Deans Contributions 0 0 0.0% 0 0 0.0% 0 0 0.0%Gain & Loss - Capital Asset Disposal (109) (2,442) 95.5% (33,756) (50,284) 32.9% (33,756) (50,284) 32.9%Interest Expense 0 0 0.0% 0 0 0.0% 0 0 0.0%Equity Transfers (1,776,703) 1,939,595 (191.6)% 27,687,013 3,523,917 685.7% 27,687,013 3,523,917 685.7%Investment Income 21 35 (39.5)% 63 94 (33.4)% 63 94 (33.4)%Other Non-Operating 0 0 0.0% 0 51,478 0.0% 0 51,478 0.0%Non-Operating Income (1,740,705) 1,968,638 (188.4)% 27,713,074 3,639,298 661.5% 27,713,074 3,639,298 661.5%

Total Margin (22,495,587) (20,620,104) (9.1)% (34,294,019) (60,569,970) 43.4% (34,294,019) (60,569,970) 43.4%Total Margin % (1,988.1)% (23,882.7)% (2,240.0)% (3,213.9)% (2,240.0)% (3,213.9)%

Change in Unrealized Gain & Loss 0 0 0.0% 0 0 0.0% 0 0 0.0%

Change in Net Assets (22,495,587) (20,620,104) (9.1)% (34,294,019) (60,569,970) 43.4% (34,294,019) (60,569,970) 43.4%

TOTAL CASH FLOW MARGIN:Margin (22,495,587) (20,620,104) (9.1)% (34,294,019) (60,569,970) 43.4% (34,294,019) (60,569,970) 43.4%Add Depreciation 4,695,090 4,876,949 (3.7)% 14,202,899 14,552,104 (2.4)% 14,202,899 14,552,104 (2.4)%OPEB Annual Expense Adjustment 0 0 0.0% 0 0 0.0% 0 0 0.0%Subtotal (17,800,498) (15,743,155) (13.1)% (20,091,120) (46,017,866) 56.3% (20,091,120) (46,017,866) 56.3%Total Cash Flow Margin % (1,573.1)% (18,234.1)% (1,312.3)% (2,441.7)% (1,312.3)% (2,441.7)%

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CASH FLOWS STATEMENTSeptember 30, 2015

Current Month FY 16 YTD Gain (Loss) from current operations 12,930$ 37,901$ Depreciation/Amortization expense 16,245 48,961 Receipts greater than (less than) accrued revenue: Change in facility accounts receivable (1,233) 32,358 Change in accounts receivable 173 874 Due to/from other units (1,469) (11,506) Payments (greater than) less than accrued expenses: Change in accounts payable (318) (1,259) Change in accrued payroll & benefits 8,181 20,608 Other changes 10,991 (3,180) Cash flow from current operations 45,500 124,757

Investment income received 10,978 10,984 Change in market value (31,894) (31,894)

Payment of bond principal - - Issuance (repayment) of commercial debt - - Proceeds from Long-term debt issuance - - Purchases of property and equipment (7,204) (23,841) Payments received on loans to affiliates - - Payment of interest on bonds payable (239) (670)

Equity transfers received for capital purchases & commitments 118 (744) Institutional support and other equity transfers paid (15,216) (42,548) Total of other sources and uses of cash and investments (43,457) (88,713)

INCREASE (DECREASE) IN CASH AND INVESTMENTS 2,043 36,044 Cash and investments at beginning of period 1,229,277 1,195,276

CASH AND INVESTMENTS AT END OF PERIOD 1,231,320$ 1,231,320$

CASH AND INVESTMENTS CONSIST OF: Current assets 141,578$ Noncurrent assets 1,089,742 Total 1,231,320$

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Documents

UMHS Consolidated, Medical School & HHC Financial Reports ... FY 16 Closing Package.pdf · FY 15 Q2 FY 15 Q3 FY 15 Q4 FY 15 FY 15 Total Year Jul FY 16 Aug FY 16 Sep FY 16 Q1 FY 16