HIGHLANDS COUNTY

HOSPITAL DISTRICT

AUDITED FINANCIAL STATEMENT

SEPTEMBER 30, 2025

STATEMENT OF NET POSITION

ASSETS

CURRENT ASSETS

Cash and Cash Equivalents

$ 548,644

Investments at Fair value

4,465,940

Interest Receivable

40,692

Due from Other Governments

11,200

Prepaid Insurance

4,076

Total Current Assets

5,070,552

NONCURRENT ASSETS

Capital Assets:

Capital Assets Not Being Depreciated

3,325

Net Capital Assets

3,325

Total Assets

5,073,877

LIABILITIES

CURRENT LIABILITIES

Accounts Payable

56,114

Due to Highlands Regional Medical Center

331,200

Total Liabilities

387,314

DEFERRED INFLOWS OF RESOURCES

Deferred Amounts Related to Lease

1,229,022

NET POSITION

Investment in Capital Assets

3,325

Unrestricted

3,454,216

Total Net Position

$ 3,457,541

STATEMENT OF REVENUES,

EXPENSES, AND CHANGES IN

NET POSITION YEAR ENDED

SEPTEMBER 30, 2025

OPERATING REVENUES

Lease Revenue

$ 670,375

OPERATING EXPENSES

Administrative and Fiscal Services

225,036

Insurance

4,687

Depreciation

42,548

Contributions

343,997

Total Operating Expenses

616,304

OPERATING INCOME

54,071

NON OPERATING REVENUES

Investment Income, Net of Investment Fees of $37,265

139,978

Total Non-operating Revenues

139,978

CHANGE IN NET POSITION

194,049

Net Position - Beginning of year

3,263,492

NET POSITION END OF YEAR

$ 3,457,541

STATEMENT OF CASH FLOWS

YEAR ENDED

SEPTEMBER 30, 2025

CASH FLOWS FROM OPERATING ACTIVITIES

Cash Received from Lessee

331,200

Cash Payments to Suppliers for Goods and Services

(192,176)

Cash Payments for Contributions

(343,997)

Net Cash Used by Operating Activities

(204,973)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of Investment Securities

(3,161,636)

Proceeds from Sale and Maturities of Investment Securities

2,741,875

Earnings on Investments

172,795

Fees for Investments

(37,265)

Net Cash Used by Investing Activities

(284,231)

NET DECREASE IN CASH AND CASH EQUIVALENTS

(489,204)

Cash and Cash Equivalents - Beginning of Year

1,037,848

CASH AND CASH EQUIVALENTS - END OF YEAR

$

548,644

RECONCILIATION OF OPERATING INCOME TO NET CASH USED BY OPERATING ACTIVITIES

Operating income

$ 54,071

Adjustments to Reconcile Operating Income to Net Cash Used by Operating Activities:

Depreciation

42,584

Decrease in Prepaid Insurance

241

Increase in Due From Other Government

(11,200)

Increase in Accounts Payable

48,506

Increase in Due to Highlands Regional Medical Center

331,200

Decrease in Deferred Inflows of Resources for Leases

(670,375)

Net Cash Used by Operating Activities

$ (204,973)

SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING, CAPITAL, AND FINANCING ACTIVITIES

Decrease in Fair Value of Investments

$

(1,104)

May 24, 2026