Transcription
The University of Florida College of DentistryFinancial UpdateFaculty Associates, Inc.Board of Directors MeetingSeptember 21, 2015
7.27M09.09.15Clinical cash balance as of 09.18.15: 6,972,396FY1690-DayReserve6.45M( 1.07M)01.17.13
August FY16 Summary Statement ofRevenues and ExpendituresRevenuesCurrent FYActualPrior YearActualDifferencePercentVarianceClinicalRevenue 2,941,931 2,972,379( 30,448)(1.0%)AncillaryRevenue 27,631 31,401( 3,770)(12.0%) 226,051 150,655 75,39650.0% 23,939 23,206 7333.2% 619 447 17238.5% 3,220,170 3,178,087 42,0831.3%Contract andGME Revenues
August FY16 Summary Statement ofRevenues and ExpendituresExpendituresCurrent FYActualPrior es 2,544,286 2,589,241( 44,955)(1.7%)OtherOperatingExpenses 1,284,991 1,189,673 95,3188.0% 87,067 162,135( 75,068)(46.3%) 3,916,343 3,941,049( 24,706)(0.6%)AdministrativeOverheadTotalExpenses
August FY16 Summary Statement ofRevenues and ExpendituresCurrent FYActualChange in NetAssets( 696,174)Prior YearActual( 762,962)Difference 66,788PercentVariance8.8%
FY16 Budget to Actuals (through Aug 2015)Clinical Revenues by Department
AR Aging by Bucket (as of 08.31.15)as of 6.30.12 2,500,000.00 2,000,000.0042%37% 1,500,000.00 1,000,000.0012% 500,000.005%4%61-9091-120 0-30as of 08.31.1531-60Over 120 2,500,00050% 2,000,000 1,500,000 1,000,00020%17%9% 500,0004% 0-3031-6061-9091-120Over 120
FACULTY ASSOCIATES, INCACCOUNTS RECEIVABLE AGING6.30.12Patient08.31.150-30 1,044,113.5934% 1,138,039.6549%31-60 273,098.939% 342,044.8515%61-90 163,157.125% 194,071.088%91-120 121,575.404% 106,427.995%Over 120 1,469,567.0848% 565,725.2724% 3,071,512.12Insurance 2,346,308.846.30.1208.31.150-30 901,078.3557% 1,044,456.6352%31-60 316,173.2020% 405,866.3720%61-90 73,845.165% 192,530.4210%91-120 52,662.883% 74,169.804%Over 120 240,041.0215% 283,473.6314% 1,583,800.61Totals 2,000,496.856.30.1208.31.150-30 1,945,191.9442% 2,182,496.2850%31-60 589,272.1313% 747,911.2217%61-90 237,002.285% 386,601.509%91-120 174,238.284% 180,597.794%Over 120 1,709,608.1037% 849,198.9020% 4,655,312.73 4,346,805.69
iCOLL Results –Monthly Collections Over Time45000August 2015Total accounts reviewed:395Total cash funds collected: 9,551Total rebilled to insurance: 276Total collection hours:13840000350003000025000200001500010000Total Col Self-PayTotal Rebill Ins5000Sep 2012Nov 2012Jan 2013Mar 2013May 2013Jul 2013Sep 2013Nov 2013Jan 2014Mar 2014May 2014July 2014Sep 2014Nov 2014Jan 2015Mar 2015May 2015July 20150
Medicaid Managed Care PlansMMA Plan (MedicalBilling)Dental SubcontractorGainesvilleSt. taQuestDentaQuestBetter estFlorida Dental BenefitsIncDentaQuestFlorida Dental BenefitsIncPrestigeArgus DentalArgus DentalArgus DentalArgus DentalSimply Clear aQuestDental Health &WellnessDental BenefitsProvider IncDentaQuestDental Health &WellnessDental BenefitsProvider IncDentaQuestDental Health &WellnessDentaQuestDental Health &WellnessDental BenefitsProvider IncLiberty DentalLiberty DentalLiberty DentalLiberty DentalMolinaSimplySunshineUnitedStaywell / Wellcare**Contract In Process
Other Updates Audit completed – Draft financials andMD&A done “clean” per draft no adjustments per draft FY16 Budget Follow-up GME allocations (handout) DOH Update for FY16 to be shared at chairs meetingbefore October payment is received Cost of raises to the college
Faculty and Staff Raise ImpactSource of FundsAEFAuxFoundationOtherResearchStateOver the CapGrand TotalFY 16 Impact 115,787.24 23,399.25 4,937.84 1,322.53 30,763.46 188,891.39 9,875.37 374,977.10Annual ImpactFY 16 ImpactTotal College ResponsibilityMinimum Wage ImpactTotal Impact to the CollegeAnnual Impact 231,574.49 46,798.51 9,875.68 2,645.06 61,526.93 377,782.79 19,750.75 749,954.20 155,322.24 310,644.49 8,877.84 17,755.68 164,200.08 328,400.17
Questions?
ne:(352)273- ly.i.A20%discountwillbeofferedonbalancesof 500orless.ii.Accountswithbalancesover tactthebusinessofficetomakepayment.
Sep 01, 2012 · ( 1.07M) 01.17.13 Clinical cash balance as of 09.18.15: 6,9
