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❉❉

H A P P Y H O L I D AY S

It’s the thought that counts

❉ By Susan Golovin

O

ne of the eight gifts listed this year in the Neiman Marcus annual Fantasy Gifts catalog is called “Fancy Flying.” It details a falconry experience complete with “bespoke” accoutrements such as a 20-karat gold-plated perch. Fantasy? Not entirely. A Palo Alto couple created a similar, albeit lower-key, experience for themselves on a trip celebrating their daughter’s 40th birthday. Original, creative, high-end gifts are delighting many local residents. The falconry experience took place in the Cotswolds, where the family rented a home, complete with copper bathtub, and where a chef came one night to prepare a special English meal, with smashed peas, Yorkshire pudding and a

Creativity produces “wow” gifts, experiences sticky toffee pudding that the wife described as “to die for.” Some Internet research on TripAdvisor led them to West of England Falconry, near Bath, where falconer Jay Marshall gave the participants instructions. “We put on vests,” said the wife. “On our left hand we put on a thick glove and were told to keep our right hand firmly over the right pocket” — in which they had the supply of baby chick gizzards. She then described how they were led into a field surrounded by a forest. With a piece of bait transferred to the left hand, arm outstretched, the “beautiful, beautiful birds swoop down at enormous speed” to take the bait. One bird perched on her head for a bit. “A sort of falcon fascinator,” she said. “We were there for about two hours and I would do it again in a heartbeat.”

VERONICA WEBER

One of the rooms in the glass dollhouse features the couple’s favorite Paris restaurant, L’Atelier de Joel Robuchon

Yet another avian-like experience was the birthday gift of fighter jet lessons a Woodside woman gave to her husband. Her husband, although not a professional pilot, was certified and was a member of the Swedish equivalent to our Special Forces. He has bona fides as an excellent skier, (helicopter skiing in Canada), competitive parachute jumping, horseback riding (fox hunting in Ireland). You get the picture. The wife said that she had had the opportunity to ride in a fighter jet in New Zealand and was looking for a similar experience for her husband. “But I knew that he wouldn’t want to be taken for a ride. That’s not the way he’s wired. He would want to take the wheel.” Quite by chance, she met someone at a party who introduced her to Peter Zaccagnino, a certified instructor who owns his own L-39 jet and who gives lessons in Heber, Utah.

What started out as a gift of three lessons, at $2,500 each, has now blossomed into “at least 12 more, in which he has learned to take off, land and do all kinds of maneuvers,” she said. The couple, who decided years ago to give each other experiences rather than gifts, has also enjoyed white-water rafting down the Carnali River in Nepal and private polo lessons in Palm Springs. Nine months before their 40th wedding anniversary, an Atherton glass collector decided to commission a piece for his wife from the glass artist Emily Brock, whose miniatures the couple had long admired. “The theme was four decades, so I told her I wanted to represent four places we love,” said the husband. The result is a sort of fourroomed glass doll house. One “room” is a fall scene in Central Park in New York, another, the counter in the Paris restaurant L’Atelier de Joel Robu-

chon, another, the couple’s family room (including the miniature glass collection) and, finally, their as yet unfinished dream house in Martha’s Vineyard. “Emily was very clever in her execution, right down to the lamb chops and cocktail my wife always orders,” he said. Since Emily Brock lives in New Mexico, the piece was fabricated using photographs, either taken by the husband or found on the Internet. “The only thing she had some trouble with was the color of the family-room sofa,” said the husband. “I also asked the artist if she could somehow incorporate all the memories we have of these places,” said the husband. The result is a memory drawer that pulls out from each section. Each drawer contains a piece of glass with an etched list. The piece cost $20,000. “It was shipped, intact,” said the Continued on next page

VERONICA WEBER

A glass dollhouse commissioned for a 40th wedding anniversary features four panels important to the couple, including Central Park (at left) and the family room (at right). December 13, 2013 ■ Mountain View Voice ■ MountainViewOnline.com ■

29


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H A P P Y H O L I D AY S

Continued from previous page

husband. “Every time we look at it, we smile.� If your imagination needs a creative boost, there is always that Neiman Marcus catalog. “Ginger Reeder, vp of public relations in Dallas, works all year round selecting the Fantasy Gifts,� said Samantha Hartwell, manager of public relations in the Palo Alto store. The Fantasy Gifts are found in the Christmas Book 2013, called “The Heart of Giving.� The first catalog was published in 1926, and the Fantasy Gifts were introduced in 1959 by the Marcus Brothers as a publicity coup. The most expensive gift this year is “Roughing It� and includes not

!

only a 25-karat rough Forevermark diamond, but also an edifying trip to the De Beers headquarters in London, and the opportunity to design your own piece of jewelry with a New York-based jewelry designer. Price tag: $1.8 million. “The cars always sell out within the first 24 hours,� Hartwell said. This year, they are featuring a 2014 Aston Martin Vanquish Volante, one of only 10 in the world. “And the His and Hers are always popular,� she added. “In 1967 it was His and Hers camels.� This year each Neiman Marcus store will donate a portion of the proceeds from each Fantasy Gift purchase to the Heart of

â?‰

Neiman Marcus Foundation, from which each store will in turn donate funds. The Palo Alto Neiman Marcus store selected Stanford LIVE, the production company behind the Bing Concert Hall, which provides musical experiences for K-12 in this community. As for next year, Hartwell says that Ginger Reeder is probably hard at work on that right now! Freelance writer Susan Golovin can be emailed at susangolovin@ yahoo.com. V

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â–  Mountain View Voice â–  MountainViewOnline.com â–  December 13, 2013

VERONICA WEBER

Glass artist Emily Brock, who lives in New Mexico, was commissioned to create a glass dollhouse for an Atherton couple’s 40th anniversary. Brock used photographs to help get the details right, down to the color for the family-room sofa.


❉❉

H A P P Y H O L I D AY S

Yes, Virginia, people are still sending holiday cards Some choose to showcase their creativity while sending season’s greetings By Kathy Cordova

A

VERONICA WEBER

Bruce Gee holds up one of his favorite Christmas cards. It incorporates carolers and sheet music to “We Wish You a Merry Christmas.”

s a child, Palo Altan Sue Kemp remembers everybody sending cards during the holidays. Her family even had a tradition around it. “One of my jobs at Christmas time, besides polishing silver, was addressing Christmas card envelopes. We sat around the dining-room table and did them together. It was a family thing,” she said. These days Kemp is getting fewer cards than she used to and those she does receive are less personalized. “Communications have speeded up so fantastically, and people are busy,” she said. “Not many want to spend the necessary time to communicate personally with others since it is so easy to keep in touch with one another through social media.” In our hectic, high-tech, hyperconnected world, is mailing holiday greetings becoming a thing of the past? Do people still take the time to not only send physical cards in this digital age, but also to make them personal?

The answer may be as surprising as the sound of reindeer on your roof on Christmas Eve. Yes, Virginia, people are still sending holiday cards. And while many select cards with generic messages, preprinted signatures and computer-generated address labels, others are taking extraordinary care to create unique cards for their friends and loved ones. For the past 25 years, Bruce Gee has been crafting his own custom-designed cards, with photos and prose chronicling his life — from meeting his wife Jane to their marriage, the birth of their children and their family life in Palo Alto. He does it because it’s fun, creative and he wants to send something memorable. “I hope when you open our card, you don’t just look at it and throw it away. A lot of our friends keep our cards from every year,” he said. Gee got started with his tradition when he was late sending cards one

year. “I thought it would be funny to do a ‘David Letterman Top Ten Reasons Why This Card is Late’ and make a card where you pulled down the tab to reveal each reason one by one,” he said. “When you got to the end, it said, ‘#1 I wanted to see if I would get a card from you first!’” Originally Gee thought he would save money making the cards himself instead of buying them, but as the cards have become more elaborate and he has become more invested in the hobby, this has proven not to be the case. Over the years he has spent both countless hours and dollars designing the cards, buying custom die-cut machines and other tools to produce these works of art. Among his collection are pop-up cards, cards with intricate cutouts shaped like carolers and nutcrackers, and origami that transform into houses or ornaments. And Gee isn’t the only one taking the time to make custom cards. Every year Paper Source in Town & Country Village in Palo Alto holds workshops for its customers who want to craft their own greetings. “People like to show that they’re creative. They like that sense of accomplishment,” said Evelyn Herrero, who has worked at Paper Source for the past two holiday seasons. Herrero, too, makes her own Continued on next page

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www.AdventureToysLosAltos.com December 13, 2013 ■ Mountain View Voice ■ MountainViewOnline.com ■

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❉❉

H A P P Y H O L I D AY S

Continued from previous page

cards. “I do it because I love doing art. It’s therapy. It’s relaxing and clears the mind,” she said. “People really love that they mean enough to you to make something so special for them.” Carol Goldfield of Palo Alto doesn’t handcraft her cards, but she does add a personal touch. She has been sending out Christmas cards since she was in college, but after her son was born, she began sending photo cards. “I usually write a one-line personal note in each card, and for friends I rarely see, I enclose a longer, personal, typed letter — not a form letter,” she said.

“I probably get fewer cards now than in the past, but not considerably fewer. I definitely am receiving more e-cards. Social media has affected card sending because now we post so much of our news and photos on Facebook so that even far-away friends know what’s going on in our lives on a weekly basis.” Kitty Woo, co-owner of PaperWhirl on University Avenue in Palo Alto, has been in business for 32 years. She’s has noticed that people are sending fewer cards, although she still has regular customers who order personalized, custom cards, especially photo cards featuring children and pets. She sends annual holiday cards, but she prefers Chinese New

Year or Valentine’s Day for the occasions of her greetings. Woo knows that people are sending more virtual greetings, but she doesn’t think printed cards will ever be completely replaced. “People still love receiving a card,” she said. “To get something in the mail is very different than getting something online.” Gee agrees. Even though he is getting more e-cards, he responds with a one-of-a-kind, hand-created greeting. He said, “It’s something we’re known for now and people look forward to. They’re always wondering, ‘What will the Gee family do next year?’” Freelance writer Kathy Cordova can be emailed at khcordova@gmail.com. V

VERONICA WEBER

Every year Bruce Gee spends close to 120 hours designing, cutting, gluing and mailing out about 300 cards to family and friends.

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■ Mountain View Voice ■ MountainViewOnline.com ■ December 13, 2013


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December 13, 2013 â&#x2013;  Mountain View Voice â&#x2013;  MountainViewOnline.com â&#x2013; 

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EL CAMINO HEALTHCARE DISTRICT FINANCIAL REPORT For the Years Ended June 30, 2013, 2012 and 2011



CONTENTS PAGE

MANAGEMENT’SDISCUSSIONANDANALYSISǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͳ

REPORTOFINDEPENDENTAUDITORSǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͳͶ

CONSOLIDATEDFINANCIALSTATEMENTSASOFANDFORTHEYEARS ENDEDJUNE30,2013AND2012 –ƒ–‡‡–•‘ˆ‡–’‘•‹–‹‘ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͳ͹ –ƒ–‡‡–•‘ˆ”‡˜‡—‡•ǡ‡š’‡•‡•ǡƒ†…Šƒ‰‡•‹‡–’‘•‹–‹‘ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͳͺ –ƒ–‡‡–•‘ˆ…ƒ•ŠˆŽ‘™•ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͳͻ ‘–‡•–‘ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤʹͲ

SUPPLEMENTARYINFORMATIONASOFANDFORTHEYEARENDEDJUNE30,2013 ‘•‘Ž‹†ƒ–‹‰•–ƒ–‡‡–‘ˆ‡–’‘•‹–‹‘ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͶͳ ‘•‘Ž‹†ƒ–‹‰•–ƒ–‡‡–‘ˆ”‡˜‡—‡•ǡ‡š’‡•‡•ǡƒ†…Šƒ‰‡•‹‡–’‘•‹–‹‘ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͶ͵ —’’Ž‡‡–ƒŽ’‡•‹‘ƒ†’‘•–”‡–‹”‡‡–„‡‡ˆ‹–‹ˆ‘”ƒ–‹‘ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͶͶ —’’Ž‡‡–ƒŽ•…Š‡†—Ž‡‘ˆ…‘—‹–›„‡‡ˆ‹–ȋ—ƒ—†‹–‡†ȌǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͶͷ





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EL CAMINO HEALTHCARE DISTRICT MANAGEMENT’S DISCUSSION AND ANALYSIS For the Years Ended June 30, 2013, 2012 and 2011

ELCAMINOHEALTHCAREDISTRICT MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011    —”‹‰ˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵Žƒ‹‘ ‘•’‹–ƒŽ‹•–”‹…–…Šƒ‰‡†‹–•ƒ‡–‘„‡…‘‡‘”‡–”ƒ•’ƒ”‡–‹–Š‡’—„Ž‹…‡›‡ǡ–‘ Žƒ‹‘ ‡ƒŽ–Š…ƒ”‡‹•–”‹…–ȋ–Š‡Dz‹•–”‹…–dzȌǡ–‘ƒ‡ƒ•Šƒ”’‡”†‹•–‹…–‹‘„‡–™‡‡–Š‡–ƒš’ƒ›‡”Ǧˆ—†‡†‹•–”‹…–ƒ† –Š‡‘’‡”ƒ–‹‘•‘ˆŽƒ‹‘ ‘•’‹–ƒŽȋ–Š‡Dz ‘•’‹–ƒŽdzȌƒ†‹–••—„•‹†‹ƒ”‹‡•Ǥ Š‡ ‹•–”‹…– ‹• …‘’”‹•‡† ‘ˆ •‹š ȋ͸Ȍ ‡–‹–‹‡•ǣ –Š‡ ‹•–”‹…–ǡ –Š‡ ‘•’‹–ƒŽǡ Žƒ‹‘ ‘•’‹–ƒŽ ‘—†ƒ–‹‘ ȋ–Š‡ Dz ‘—†ƒ–‹‘dzȌǡ ǣ ’Ž‘›‡‡ ••‹•–ƒ…‡ ”‘‰”ƒ ȋDzdzȌǡ Žƒ‹‘ —”‰‡”› ‡–‡” ȋDzdzȌǡ ƒ† ‹Ž‹…‘ƒŽŽ‡›‡†‹…ƒŽ‡˜‡Ž‘’‡–ǡȋDzdzȌǤ ˆˆ‡…–‹˜‡ ƒ› ʹͲͳ͵ǡ –Š‡ —”‰‡”› ‡–‡”ǡ ‘’‡”ƒ–‡† „› ǡ ™ƒ• •‘Ž† –‘ ƒ –Š‹”† ’ƒ”–›ǡ –Š‡ Ž ƒ‹‘ „—Žƒ–‘”› —”‰‡”›‡–‡”ȋDzdzȌǤ…‘–”‹„—–‡†…‡”–ƒ‹‡†‹…ƒŽ‡“—‹’‡–ǡˆ—”‹•Š‹‰•ǡˆ‹š–—”‡•ǡ‹˜‡–‘”‹‡•ǡƒ†‘–Š‡” –ƒ‰‹„Ž‡’‡”•‘ƒŽ’”‘’‡”–›‹‡š…Šƒ‰‡ˆ‘”ƒ•‡˜‡ƒ†‘‡ŠƒŽˆȋ͹ǤͷΨȌ‹–‡”‡•–‹ǤŠƒ•ƒŽ•‘’”‘˜‹†‡†ƒ ™‘”‹‰…ƒ’‹–ƒŽŽ‹‡‘ˆ…”‡†‹–‹ƒ’”‹…‹’ƒŽƒ‘—–‘ˆ̈́͹ͷͲǡͲͲͲ”‡’”‡•‡–‡†„›ƒ”‘‹••‘”›‘–‡™‹–Šƒ–‡”‘ˆ͵ͻ ‘–Š•Ǥ Š‡ ‘•’‹–ƒŽƒ…“—‹”‡†–Š‡”‡ƒŽ‡•–ƒ–‡ƒ†…‡”–ƒ‹‘–Š‡”ƒ••‡–•‘ˆ–Š‡ͳͶ͵Ǧ„‡†‘—‹–› ‘•’‹–ƒŽ‘ˆ‘• ƒ–‘•ȋDz‘•

ƒ–‘•dzȌ‹’”‹ŽʹͲͲͻǡ…Ž‘•‡†‹–ˆ‘”ͻͲ†ƒ›•ǡƒ†”‡Ǧ‘’‡‡†‹–‘ —Ž›ͳʹǡʹͲͲͻǤŠ‡‘• ƒ–‘•Dz•‹•–‡”Š‘•’‹–ƒŽ…ƒ’—•dz ‘’‡”ƒ–‡•—†‡”–Š‡–ƒš‹†‡–‹ˆ‹…ƒ–‹‘—„‡”ǡ•–ƒ–‡Š‡ƒŽ–Š…ƒ”‡Ž‹…‡•‡—„‡”ǡƒ†–Š‡˜ƒ”‹‘—•’”‘˜‹†‡”—„‡”•‘ˆ –Š‡ ‘•’‹–ƒŽǤ

MANAGEMENT’SDISCUSSIONANDANALYSIS

OverviewoftheConsolidatedFinancialStatements Š‹•ƒ—ƒŽ”‡’‘”–…‘•‹•–•‘ˆ–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ƒ†‘–‡•–‘–Š‘•‡•–ƒ–‡‡–•ǤŠ‡•‡•–ƒ–‡‡–• ƒ”‡‘”‰ƒ‹œ‡†–‘’”‡•‡––Š‡‹•–”‹…–ƒ•ƒ™Š‘Ž‡ǡ‹…Ž—†‹‰ƒŽŽ–Š‡‡–‹–‹‡•‹–…‘–”‘Ž•Ǥ ‹ƒ…‹ƒŽ‹ˆ‘”ƒ–‹‘ˆ‘”‡ƒ…Š •‡’ƒ”ƒ–‡ ‡–‹–› ‹• •Š‘™ ‹ –Š‡ •—’’Ž‡‡–ƒŽ •…Š‡†—Ž‡• ‘ –Š‡ Žƒ•– ’ƒ‰‡• ‘ˆ –Š‡ ”‡’‘”–Ǥ  ƒ……‘”†ƒ…‡ ™‹–Š –Š‡

‘˜‡”‡–ƒŽ ……‘—–‹‰ –ƒ†ƒ”†• ‘ƒ”† ȋDz dzȌ ‘†‹ˆ‹…ƒ–‹‘ ‡…–‹‘ ʹʹͲͲǡ Comprehensive Annual Financial Report,–Š‡‹•–”‹…–’”‡•‡–•…‘’ƒ”ƒ–‹˜‡ˆ‹ƒ…‹ƒŽŠ‹‰ŠŽ‹‰Š–•ˆ‘”–Š‡ˆ‹•…ƒŽ›‡ƒ”•‡†‡† —‡͵ͲǡʹͲͳ͵ǡʹͲͳʹǡƒ†ʹͲͳͳǤ Š‹•†‹•…—••‹‘ƒ†ƒƒŽ›•‹••Š‘—Ž†„‡”‡ƒ†‹…‘Œ—…–‹‘™‹–Š–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•‹–Š‹•”‡’‘”–Ǥ

̴̴̴̴̴̴̴̴̴̴

Š‡…‘•‘Ž‹†ƒ–‡†•–ƒ–‡‡–•‘ˆ‡–’‘•‹–‹‘ǡ–Š‡…‘•‘Ž‹†ƒ–‡†•–ƒ–‡‡–•‘ˆ”‡˜‡—‡•ǡ‡š’‡•‡•ǡƒ†…Šƒ‰‡•‹‡– ’‘•‹–‹‘ǡ ƒ† …‘•‘Ž‹†ƒ–‡† •–ƒ–‡‡–• ‘ˆ …ƒ•Š ˆŽ‘™• ’”‘˜‹†‡ ƒ ‹†‹…ƒ–‹‘ ‘ˆ –Š‡ ‹•–”‹…–ǯ• ˆ‹ƒ…‹ƒŽ Š‡ƒŽ–ŠǤ Š‡ …‘•‘Ž‹†ƒ–‡† •–ƒ–‡‡–• ‘ˆ ‡– ’‘•‹–‹‘ ‹…Ž—†‡ ƒŽŽ –Š‡ ‹•–”‹…–ǯ• ƒ••‡–• ƒ† Ž‹ƒ„‹Ž‹–‹‡•ǡ —•‹‰ –Š‡ ƒ……”—ƒŽ „ƒ•‹• ‘ˆ ƒ……‘—–‹‰ǤŠ‡…‘•‘Ž‹†ƒ–‡†•–ƒ–‡‡–•‘ˆ”‡˜‡—‡•ǡ‡š’‡•‡•ǡƒ†…Šƒ‰‡•‹‡–’‘•‹–‹‘”‡’‘”–ƒŽŽ‘ˆ–Š‡”‡˜‡—‡• ƒ†‡š’‡•‡•†—”‹‰–Š‡–‹‡’‡”‹‘†•‹†‹…ƒ–‡†ǤŠ‡…‘•‘Ž‹†ƒ–‡†•–ƒ–‡‡–•‘ˆ…ƒ•ŠˆŽ‘™•”‡’‘”––Š‡…ƒ•Š’”‘˜‹†‡† „› –Š‡ ‘’‡”ƒ–‹‰ ƒ…–‹˜‹–‹‡•ǡ ƒ• ™‡ŽŽ ƒ• ‘–Š‡” …ƒ•Š •‘—”…‡• •—…Š ƒ• ‹˜‡•–‡– ‹…‘‡ ƒ† …ƒ•Š ’ƒ›‡–• ˆ‘” …ƒ’‹–ƒŽ ƒ††‹–‹‘•ƒ†‹’”‘˜‡‡–•Ǥ ConsolidatedFinancialHighlights YearEndedJune30,2013 x

Š‡ ‹…”‡ƒ•‡ ‹ ‡– ’‘•‹–‹‘ ˆ‘” ʹͲͳ͵ ™ƒ• ̈́ͳͲʹǤ͸ ‹ŽŽ‹‘ ‘˜‡” ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹǤ ‡– ‘’‡”ƒ–‹‰ ‹…‘‡ …‘–”‹„—–‡† ̈́͸ͶǤͺ ‹ŽŽ‹‘Ǥ ‘Ǧ‘’‡”ƒ–‹‰ ƒ††‡† ƒ‘–Š‡” ̈́͵͹Ǥͻ ‹ŽŽ‹‘ǡ ’”‹ƒ”‹Ž› †”‹˜‡ „› ”‡ƒŽ‹œ‡† ‹˜‡•–‡–‹…‘‡ƒ†ƒ—”‡ƒŽ‹œ‡†‰ƒ‹–Š‹•›‡ƒ”‘ƒ‹–‡”‡•–”ƒ–‡•™ƒ’Ǥ

x

‘–ƒŽ ƒ••‡–• ‹…”‡ƒ•‡† „› ̈́ͻʹǤ͸ ‹ŽŽ‹‘ ‘˜‡” ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹǡ ™Š‹…Š ™ƒ• ‘•–Ž› ‹ –Š‡ ‹…”‡ƒ•‡ ‘ˆ –‘–ƒŽ •—”’Ž—•…ƒ•Šƒ†‹˜‡•–‡–•Ǥ

YearEndedJune30,2012 x

Š‡ ‹…”‡ƒ•‡ ‹ ‡– ’‘•‹–‹‘ ˆ‘” ʹͲͳʹ ™ƒ• ̈́͹ʹǤͳ ‹ŽŽ‹‘ ‘˜‡” ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳͳǤ ‡– ‘’‡”ƒ–‹‰ ‹…‘‡ …‘–”‹„—–‡†̈́ͷͻǤ͹‹ŽŽ‹‘Ǥ‘Ǧ‘’‡”ƒ–‹‰‹…‘‡…‘–”‹„—–‡†ƒ‘–Š‡”̈́ͳʹǤͶ‹ŽŽ‹‘ǡ’”‹ƒ”‹Ž›†”‹˜‡„›‡– ‹˜‡•–‡–‹…‘‡ǡ‹…Ž—†‹‰”‡ƒŽ‹œ‡†ƒ†—”‡ƒŽ‹œ‡†‰ƒ‹•‘‹˜‡•–‡–•Ǥ

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December 13, 2013 ■ Mountain View Voice ■ MountainViewOnline.com ■

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EL CAMINO HEALTHCARE DISTRICT MANAGEMENT’S DISCUSSION AND ANALYSIS For the Years Ended June 30, 2013, 2012 and 2011

ELCAMINOHEALTHCAREDISTRICT

x

MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011    Š‡‹…”‡ƒ•‡‹‘’‡”ƒ–‹‰‹…‘‡„‡–™‡‡ˆ‹•…ƒŽ›‡ƒ”•ʹͲͳͳƒ†ʹͲͳʹ™ƒ•̈́ͳͶǤͳ‹ŽŽ‹‘ǤŠ‹•™ƒ•’”‹ƒ”‹Ž› †—‡ –‘ ‰”‘™–Š ‹ ’ƒ–‹‡– ˜‘Ž—‡• ƒ– –Š‡ ‘• ƒ–‘• …ƒ’—• ƒ† ‰”‘™–Š ƒ– „‘–Š …ƒ’—•‡• ‹ ’”‘…‡†—”ƒŽ ˜‘Ž—‡•Ǥ ‘–‹—‡† •–ƒˆˆ ‡ˆˆ‹…‹‡…‹‡• ƒ† ƒ ”‡†—…–‹‘ ‹ ‘’‡”ƒ–‹‰ …‘•–• †—‡ –‘ –Š‡ ‘‡Ǧ–‹‡ •‹‰‹ˆ‹…ƒ– …‘•—Ž–‹‰’”‘Œ‡…–Ȃ……‡Ž‡”ƒ–‡†‘–‹—‘—•š…‡ŽŽ‡…‡ȋDzdzȌǦ•–ƒ”–‡†ƒ––Š‡‡†‘ˆˆ‹•…ƒŽ›‡ƒ”ʹͲͳͲǤ

x

‘–ƒŽƒ••‡–•‹…”‡ƒ•‡†„›̈́͹ͻǤͺ‹ŽŽ‹‘‘˜‡”ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͳǤ‘–ƒŽ•—”’Ž—•…ƒ•Šƒ†‹˜‡•–‡–•‹…”‡ƒ•‡†„› ̈́ͻͳǤͺ ‹ŽŽ‹‘ ‘˜‡” ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳͳǡ ’”‹ƒ”‹Ž› †”‹˜‡ „› •‹‰‹ˆ‹…ƒ– ‡– ‹…‘‡ǡ ƒ† …‘–‹—‡† ”‡†—…–‹‘ ‹ …ƒ’‹–ƒŽ‡š’‡†‹–—”‡•Ǥ

x

—””‡–Ž‹ƒ„‹Ž‹–‹‡•†‡…”‡ƒ•‡†„›̈́ͶͳǤ͸‹ŽŽ‹‘‹–Š‡…—””‡–ˆ‹•…ƒŽ›‡ƒ”‘˜‡”ʹͲͳͳǤ”‹ƒ”‹Ž›ǡ–Š‹•™ƒ•†—‡–‘ –Š‡‘—–•–ƒ†‹‰̈́ͷͲ‹ŽŽ‹‘ʹͲͲͻ‡”‹‡•‡˜‡—‡‘†–Šƒ–ǡ†—”‹‰–Š‡…—””‡–ˆ‹•…ƒŽ›‡ƒ”ǡŠƒ†‹–•‡––‡”‘ˆ ”‡†‹–‡š–‡†‡†–‘’”‹ŽʹͲͳ͹ǡ…ƒ—•‹‰–Š‡†‡„––‘ƒ‰ƒ‹„‡…Žƒ••‹ˆ‹‡†ƒ•ƒŽ‘‰Ǧ–‡”Ž‹ƒ„‹Ž‹–›Ǥ SummaryofAssets,LiabilitiesandNetPosition AsofJune30,2013,2012and2011 ȋ Š‘—•ƒ†•Ȍ

Assets: —””‡–ƒ••‡–• ‘ƒ”††‡•‹‰ƒ–‡†ƒ†”‡•–”‹…–‡†ˆ—†•ǡ‡–‘ˆ…—””‡–’‘”–‹‘ —†•Š‡Ž†„›–”—•–‡‡ǡ‡–‘ˆ…—””‡–’‘”–‹‘ ƒ’‹–ƒŽƒ••‡–•ǡ‡– –Š‡”ƒ••‡–• Totalassets Liabilities: —””‡–Ž‹ƒ„‹Ž‹–‹‡• ‘†•’ƒ›ƒ„Ž‡ǡ‡–‘ˆ…—””‡–’‘”–‹‘ –Š‡”Ž‘‰Ǧ–‡”Ž‹ƒ„‹Ž‹–‹‡• Totalliabilities Netposition: ”‡•–”‹…–‡†ƒ†‹˜‡•–‡†‹…ƒ’‹–ƒŽƒ••‡–•ǡ‡– ‡•–”‹…–‡†„›†‘‘”•Ǧ…Šƒ”‹–›ƒ†‘–Š‡” ‡•–”‹…–‡†Ǧ‡†‘™‡–•

2012

2011

̈́ ͵͹ͻǡͷͳ͵ ͵Ͷ͵ǡ͸͵ʹ  ͳͶǡͺ͸͸ ͸Ͷ͹ǡͲ͵͸  ͸͵ǡͷ͹͵

̈́͵͹ͻǡͺ͵ͺ ʹ͵͸ǡ͹͸͵ ͳ͵ǡͶͻͷ ͸͹Ͳǡ͹ͳͳ ͷͷǡʹ͵Ͳ

̈́ ͵Ͳ͸ǡͳʹͺ ʹͳʹǡ͸͸ͻ  ͳ͵ǡͲͻͲ ͸ͻͳǡͳ͹ͺ  ͷ͵ǡͳͻ͸

$ 1,448,620

$ 1,356,037

$ 1,276,261

̈́ͻ͹ǡ͸ͳͻ ͵ʹͳǡͻͺ͸  Ͷͺǡͻͷͷ

̈́ͳͲͲǡʹͷʹ ͵ʹ͸ǡͷ͹ͺ ͷͳǡ͹͸ͺ

̈́ ͳͶͳǡͺʹͳ ʹͺͲǡ͹ʹͺ  Ͷͺǡ͵͸ͳ

$468,560

$478,598

$470,910

̈́ ͻ͹ʹǡͻ͹ͺ ͷǡʹͻ͹ ͳǡ͹ͺͷ

̈́ͺ͹Ͳǡͷ͸ʹ ͶǡͺʹͲ ʹǡͲͷ͹

̈́ ͹ͻͷǡͷ͵ͻ ͷǡʹͷͲ Ͷǡͷ͸ʹ

Totalnetposition

$980,060

$877,439

$805,351

$ 1,448,620

$ 1,356,037

$ 1,276,261

̈́ ʹͷ͸ǡͺͶͳ ͵ͷͷǡͲ͵ͷ

̈́ʹ͸͵ǡ͹͸ʹ ʹͶͲǡ͹ͻͷ

̈́ ͳͻ͸ǡͲ͵Ͷ ʹͳͺǡͺͳʹ

$611,876

$504,557

$414,846

Totalavailablecash&investments

MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011    Investments Š‡ …‘•‘Ž‹†ƒ–‡† ‹•–”‹…– ƒ‹–ƒ‹• •—ˆˆ‹…‹‡– …ƒ•Š „ƒŽƒ…‡• –‘ ’ƒ› †ƒ‹Ž› ‘’‡”ƒ–‹‘ƒŽ ‡š’‡•‡• ƒ† ƒŽŽ •Š‘”– –‡” Ž‹ƒ„‹Ž‹–‹‡•Ǥ  Žƒ–‡ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹǡ –Š‡ ‘•’‹–ƒŽ ȋ‡š…Ž—•‹˜‡ ‘ˆ –Š‡ ‹•–”‹…–Ȍ ™‡– –Š”‘—‰Š ƒ   ’”‘…‡•• –‘ •‡Ž‡…– ƒ

˜‡•–‡–‘•—Ž–ƒ––‘ƒ••‹•––Š‡ ‘•’‹–ƒŽƒ†‹–••—„•‹†‹ƒ”‹‡•‹ƒƒ‰‹‰‹–—”’Ž—•ƒ•Šȋƒ†ƒ•ŠƒŽƒ…‡ŽƒȌ ƒ••‡–•Ǥ––Š‡‡†‘ˆʹͲͳʹ–Š‡ ˜‡•–‡–‘•—Ž–ƒ–™ƒ•”‡–ƒ‹‡†ƒ†„‘–Š–Š‡‹˜‡•–‡–’‘Ž‹…‹‡•ˆ‘”—”’Ž—•ƒ•Š ƒ†ƒ•ŠƒŽƒ…‡Žƒ™‡”‡—’†ƒ–‡†ƒ†ƒ’’”‘˜‡†„›–Š‡ ‘•’‹–ƒŽ‘ƒ”†‘ˆ‹”‡…–‘”•ǤŠ‡’‘Ž‹…‹‡•ƒŽŽ‘™ˆ‘”‰”‡ƒ–‡” †‹˜‡”•‹ˆ‹…ƒ–‹‘‹–Š‡‹˜‡•–‡–’‘”–ˆ‘Ž‹‘•„ƒŽƒ…‡–Š‡‡‡†ˆ‘”Ž‹“—‹†‹–›™‹–ŠƒŽ‘‰Ǧ–‡”‹˜‡•–‡–ˆ‘…—•‹‘”†‡” –‘ ‹’”‘˜‡ ‹˜‡•–‡– ”‡–—”• ƒ† –Š‡ ‘”‰ƒ‹œƒ–‹‘ǯ• ˆ‹ƒ…‹ƒŽ •–”‡‰–ŠǤ ‡‰‹‹‰ ‡ƒ”Ž› ‹ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳ͵ǡ ƒ

˜‡•–‡– —„…‘‹––‡‡ ‘ˆ –Š‡ ‹ƒ…‡ ‘‹––‡‡ ™ƒ• ˆ‘”‡† –‘ ’‡”ˆ‘” –Š‡ ˆ‘ŽŽ‘™‹‰ ”‡•’‘•‹„‹Ž‹–‹‡•ǡ ƒ‘‰ ‘–Š‡”•ǣ‘‹–‘”’‡”ˆ‘”ƒ…‡‘ˆ‹˜‡•–‡–ƒƒ‰‡”•ǡ‘‹–‘”ƒŽŽ‘…ƒ–‹‘•ƒ…”‘••‹˜‡•–‡–•–›Ž‡•ƒ†‹˜‡•–‡– ƒƒ‰‡”•ǡ”‡˜‹‡™…‘’Ž‹ƒ…‡™‹–Š–Š‡’‘Ž‹…‹‡•ǡƒ†ƒ‡”‡…‘‡†ƒ–‹‘•ˆ‘””‡˜‹•‹‘•–‘–Š‡’‘Ž‹…‹‡•ǤŠ”‘—‰Š‘—– ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳ͵ǡ –Š‡ —„‡” ‘ˆ ‘‡› ƒƒ‰‡”• ‡š’ƒ†‡† ˆ”‘ –™‘ ‘‡› ƒƒ‰‡”• ˆ‘” —”’Ž—• ƒ•Š –‘ ƒ’’”‘’”‹ƒ–‡Ž›•‡˜‡–‡‡ƒƒ‰‡”•ǤŽ•‘ǡ‹ƒ‡ˆˆ‘”––‘”‡†—…‡…‘•–•ǡ–Š‡—•–‘†‹ƒƒ™ƒ•…‘•‘Ž‹†ƒ–‡†–‘‡ŽŽ• ƒ”‰‘ƒǡ™Š‹…ŠŠƒ†„‡‡–Š‡…—•–‘†‹ƒˆ‘”–Š‡ƒ•ŠƒŽƒ…‡ŽƒǤ CapitalAssets

2013

Totalliabilitiesandnetposition ’‡”ƒ–‹‰…ƒ•Š‡“—‹˜ƒŽ‡–•Ƭ•Š‘”–Ǧ–‡”‹˜‡•–‡–• ‘ƒ”††‡•‹‰ƒ–‡†Ƭ”‡•–”‹…–‡†ˆ—†•

ELCAMINOHEALTHCAREDISTRICT

ˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵ǡ–Š‡‘• ƒ–‘•…ƒ’—•Šƒ†–Š”‡‡ƒŒ‘”…‘•–”—…–‹‘’”‘Œ‡…–•ƒ’’”‘˜‡†ǡ‹…Ž—†‹‰̈́͸Ǥ͹‹ŽŽ‹‘–‘ ’‡”ˆ‘” •‡‹•‹… —’‰”ƒ†‡•ǡ ̈́͹ ‹ŽŽ‹‘ ˆ‘” ‹ˆ”ƒ•–”—…–—”‡ǡ •—…Š ƒ• ”‡’Žƒ…‡‡– ‘ˆ „‘‹Ž‡”•Ȁ…Š‹ŽŽ‡”•ǡ  …‘–”‘Ž•ǡ …‘ˆ‡”‡…‡ ”‘‘ —’‰”ƒ†‡•ǡ ˆ‹‹•Š‡•ǡ ˆ‹š–—”‡• ƒ† ˆ—”‹•Š‹‰• —’‰”ƒ†‡• ‹ –Š‡ ǡ ‘–Š‡”Ǧƒ„› —‹–ǡ ƒ† ‡†‹…ƒŽȀ—”‰‹…ƒŽ—‹–•Ǣƒ†̈́͵Ǥͳ‹ŽŽ‹‘ˆ‘”’Šƒ•‡ʹ‘ˆƒ ƒ‰‹‰“—‹’‡–”‡’Žƒ…‡‡–Ǥ ––Š‡‘—–ƒ‹‹‡™…ƒ’—•ǡƒ̈́ͳͻ‹ŽŽ‹‘’”‘Œ‡…–™ƒ•ƒ’’”‘˜‡†–‘„—‹Ž†‘—–ƒͳ͸ǡͲͲͲ•“—ƒ”‡ˆ‘‘–ƒ”‡ƒ‘ˆ–Š‡‡™ Š‘•’‹–ƒŽ –Šƒ– ™‹ŽŽ ƒŽŽ‘™ ˆ‘” –Š‡ ”‡Ž‘…ƒ–‹‘ ‘ˆ –Š‡ ƒ–ƒ ‡–‡”ǡ –Š‡ ‘”‰—‡ ƒ† —–‘’•› ˆ—…–‹‘• ƒ† –Š‡ Ž‡ƒ ƒ† ‘‹Ž‡† ‹‡ ˆ—…–‹‘• –Šƒ– …—””‡–Ž› ‡š‹•– ‹ –Š‡ ‘Ž† ƒ‹ Š‘•’‹–ƒŽǤ –‹ŽŽ ‹ ’”‘‰”‡•• ‹• –Š‡ ̈́ͶǤͷ ‹ŽŽ‹‘ ‘‡ǯ• ‘•’‹–ƒŽƒ„‘”ƒ†‡Ž‹˜‡”›‡š’ƒ•‹‘ƒ†—’‰”ƒ†‡Ǥ–ˆ‹•…ƒŽ›‡ƒ”‡†ǡ–Š‡‹‹–‹ƒŽ†‡•‹‰ƒ††‡˜‡Ž‘’‡–…‘•–•ˆ‘”ƒ ”‡‘˜ƒ–‹‘ ‘ˆ –Š‡ ‡Šƒ˜‹‘”ƒŽ ‡ƒŽ–Š „—‹Ž†‹‰ ™‡”‡ ™”‹––‡ ‘ˆˆǡ ƒ• ƒ –‘–ƒŽ ”‡’Žƒ…‡‡– „—‹Ž†‹‰ ’”‘Œ‡…– ™ƒ• „”‘—‰Š– ˆ‘”™ƒ”†ˆ‘”ƒƒ—–Š‘”‹œ‡†̈́͵‹ŽŽ‹‘ˆ‘”†‡•‹‰ƒ†•…‘’‡…‘•–•‹ —‡ʹͲͳ͵Ǥ —”‹‰ ʹͲͳ͵ǡ ƒ ‹ˆƒ– •‡…—”‹–› •›•–‡ ™ƒ• ‹•–ƒŽŽ‡† ƒ– –Š‡ ‘—–ƒ‹ ‹‡™ …ƒ’—•Ǥ  —„‡” ‘ˆ •‘’Š‹•–‹…ƒ–‡† ‹ˆ‘”ƒ–‹‘ –‡…Š‘Ž‘‰› •‘ˆ–™ƒ”‡ •›•–‡• ™‡”‡ ƒ††‡† ‹ ˆ‹•…ƒŽ ʹͲͳ͵ǣ ƒ ‘™Ž‡†‰‡ –‡”’”‹•‡ ›•–‡ǡ ƒ „—•‹‡•• ‹–‡ŽŽ‹‰‡…‡•›•–‡–‘„‡—•‡†„›–Š‡‡™Ž›ˆ‘”‡†‡”ˆ‘”ƒ…‡ ’”‘˜‡‡–†‡’ƒ”–‡–Ǣƒ’”‘Œ‡…––Šƒ–—–‹Ž‹œ‡•ƒ –‡…Š‘Ž‘‰› …ƒŽŽ‡† ‹”–—ƒŽ ‡•–‘’ ˆ”ƒ•–”—…–—”‡ ‘”   ™Š‹…Š –ƒ‡• ƒ’’Ž‹…ƒ–‹‘• ƒ† —•‡” †ƒ–ƒ ƒ† …‡–”ƒŽ‹œ‡• –Š‡ —•‡”•ǯ†‡•–‘’•‹–Š‡†ƒ–ƒ…‡–‡”™Š‡”‡‹–…ƒ„‡‡ƒ•‹Ž›ƒƒ‰‡†ǡ‘†‹ˆ‹‡†ǡƒ†”‡ˆ”‡•Š‡†ǢƒŽŽ–Š”‘—‰Š•‘ˆ–™ƒ”‡Ǣƒ† ƒ •›•–‡ –Šƒ– ‹–‡‰”ƒ–‡• ‡†‹…ƒŽ •›•–‡• ƒ† ‹ˆ‘”ƒ–‹‘ •›•–‡• ‹ –‘ –Š‡ …Ž‹‹…ƒŽ ƒ† ‡Ž‡…–”‘‹… ‡†‹…ƒŽ ”‡…‘”† •›•–‡ –‘ ‹…”‡ƒ•‡ –‹‡Ž‹‡•• ‘ˆ †ƒ–ƒ ‡–”›ǡ ƒ……—”ƒ…› ƒ† ‡ˆˆ‹…‹‡…› –‘ ƒ••‹•– ™‹–Š –Š‡ ‡™ Ǧͻ ”‡“—‹”‡‡–• •‡– ˆ‘”–Š„›–Š‡ ‡†‡”ƒŽ ‘˜‡”‡–Ǥ



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■ Mountain View Voice ■ MountainViewOnline.com ■ December 13, 2013


EL CAMINO HEALTHCARE DISTRICT MANAGEMENT’S DISCUSSION AND ANALYSIS For the Years Ended June 30, 2013, 2012 and 2011

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011   

RevenuesandExpenses

MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011    FiscalYear2013ConsolidatedFinancialAnalysis

Š‡ˆ‘ŽŽ‘™‹‰–ƒ„Ž‡†‹•’Žƒ›•”‡˜‡—‡•ƒ†‡š’‡•‡•ˆ‘”ʹͲͳ͵ǡʹͲͳʹǡƒ†ʹͲͳͳǣ

NetPatientServicesRevenues ‡– ’ƒ–‹‡– •‡”˜‹…‡• ”‡˜‡—‡ ‹ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳ͵ ‹…”‡ƒ•‡† „› ̈́ͷͶǤ͹ ‹ŽŽ‹‘ ‘” ͺǤ͸Ψ ‘˜‡” ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹǤ Š‹• ‹…”‡ƒ•‡ ™ƒ• †—‡ –‘ …Šƒ‰‡• ‹ ’ƒ›‘” ”‡‹„—”•‡‡– ƒ””ƒ‰‡‡–•ǡ ‹…”‡ƒ•‡• ‹ •—”‰‹…ƒŽ ˜‘Ž—‡•ǡ ƒ† ‹…”‡ƒ•‡† ’ƒ–‹‡–ƒ…–‹˜‹–›‹ƒ–‡”‹–›ƒ† –‡•‹˜‡ƒ”‡—”•‡”›ƒ–„‘–Š…ƒ’—•‡•ǤŽ•‘†—”‹‰ˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵ǡ–Š‡ ‘•’‹–ƒŽ ‡š’‡”‹‡…‡†ƒ‹…”‡ƒ•‡‹…‘•–”‡’‘”–•‡––Ž‡‡–•Ǥ

Revenues&Expenses YearsEndedJune30,2013,2012and2011 ȋ Š‘—•ƒ†•Ȍ 2013

2012

2011

̈́ ͸ͻͳǡͷͶͷ  ʹͳǡͷ͸ͷ

̈́ ͸͵͸ǡͺʹͲ ʹͳǡͷͻͳ

̈́ ͸Ͳ͵ǡ͸ʹͷ  ͳͻǡͲͳͷ

$713,110

$658,411

$622,640

̈́ ͵͹͵ǡͶͺͲ  ͻͲǡ͸Ͷͻ ͳͲ͵ǡ͸Ͳ͵  Ͷͺǡ͵ͷ͹  ͳ͵ǡͻ͵͹ ͹ǡ͹ͷ͹  ͳͲǡͷ͹ͳ

̈́ ͵͵ͲǡͶ͹ʹ ͻ͵ǡ͵ʹͶ ͻͶǡͳͻ͸ Ͷͻǡͷͻ͵ ͳ͵ǡͻʹͷ ͹ǡ͵͹Ͷ ͻǡͺ͹Ͳ

̈́ ͵Ͳ͹ǡ͹Ͳ͹ ͳͲͳǡ͵ͺ͸  ͺͺǡ͹͸ͳ  ͶͻǡͻͶʹ  ͳ͵ǡͲʹͻ ͹ǡ͵͹Ͷ ͺǡͻͲ͵

Totaloperatingexpenses

$648,354

$598,754

$577,102

Operatingincome

$ 64,756

$ 59,657

$ 45,538

 ȋͶǡ͹ͺ͹Ȍ  Ǧ  ʹ͸ǡͻͶ͵  ͳͺǡʹ͸Ͷ ͶǡͶ͵ʹ ͶǡͲ͸ͳ  ȋͳͳǡͲͶͺȌ  Ǧ

ȋͶǡͺʹͺȌ ȋ͵ǡ͵ͶͻȌ ͳͺǡ͵Ͷ͸ ͳ͸ǡͶʹͲ ͵ǡͶ͵ʹ ȋͷǡ͹ͺͳȌ  ȋͳͳǡͶʹ͵Ȍ ȋ͵ͺ͸Ȍ

 ȋͶǡͺͻ͹Ȍ  Ǧ  ʹ͵ǡͷͶͶ  ͳͷǡ͹ͻ͵ ͺǡͲͲ͵ ͳǡ͵͸Ͷ  ȋͷǡ͸ͺ͸Ȍ  ȋ͵ͺ͸Ȍ

$ 37,865

$ 12,431

$ 37,735

Operatingrevenues: ‡–’ƒ–‹‡–•‡”˜‹…‡”‡˜‡—‡ –Š‡””‡˜‡—‡ Totaloperatingrevenues Operatingexpenses: ƒŽƒ”‹‡•ǡ™ƒ‰‡•Ƭ„‡‡ˆ‹–• ”‘ˆ‡••‹‘ƒŽˆ‡‡•ƒ†’—”…Šƒ•‡†•‡”˜‹…‡• —’’Ž‹‡• ‡’”‡…‹ƒ–‹‘ƒ†ƒ‘”–‹œƒ–‹‘ ‡–ƒ†—–‹Ž‹–‹‡•

–‡”‡•– –Š‡”

Nonoperatingrevenue(expense)items:

‡‡”ƒŽ„Ž‹‰ƒ–‹‘„‘†‹–‡”‡•–‡š’‡•‡

–‡”‰‘˜‡”‡–ƒŽ–”ƒ•ˆ‡”‡š’‡•‡

˜‡•–‡–‹…‘‡ǡ‡– ”‘’‡”–›–ƒš”‡˜‡—‡• ‡•–”‹…–‡†‰‹ˆ–•ǡ‰”ƒ–•ƒ†‘–Š‡” ”‡ƒŽ‹œ‡†‰ƒ‹ȋŽ‘••Ȍ‘‹–‡”‡•–”ƒ–‡•™ƒ’ –Š‡”ǡ‡– ‹‘”‹–›‹–‡”‡•–‹•—„•‹†‹ƒ”›‡ƒ”‹‰• Totalnonoperatingrevenuesandexpenses Increaseinnetposition

$102,621

$ 72,088

2013Days

2012Days

‡†‹…ƒŽȀ—”‰‹…ƒŽ ƒ–‡”‹–› ‡†‹ƒ–”‹…•   •›…Š‹ƒ–”› ‘”ƒŽ‡™„‘”

Specialty

 ͷ͹ǡʹ͹Ͷ  ͳ͵ǡ͸ͲͲ ͹ʹ ͷǡͻ͵͸ ͹ǡ͹ͺͻ  ͳͳǡͺͷͲ

 ͷͷǡͻͻʹ  ͳͳǡ͸͵ʹ ͵͵Ͷ ͶǡͻͶ͸ ͹ǡͶʹͻ  ͳͲǡͶ͸ͻ

ʹǤ͵Ψ ͳ͸ǤͻΨ Ǧ͹ͺǤͶΨ ʹͲǤͲΨ ͶǤͺΨ ͳ͵ǤʹΨ

Total

 96,521

 90,802

6.3%

2013LOS

2012LOS

Specialty ‡†‹…ƒŽȀ—”‰‹…ƒŽ ƒ–‡”‹–› ‡†‹ƒ–”‹…•   •›…Š‹ƒ–”› ‘”ƒŽ‡™„‘” Total

Totalnetposition,beginningofyear

$877,439

$805,351

$722,078

$980,060

$877,439

$805,351

%Change

ͶǤ͸ ʹǤ͸ ͳǤ͹ ͳͲǤ͵ ͻǤʹ ʹǤͶ

ͶǤ͸ ʹǤ͸ ͵Ǥͷ ͻǤͺ ͺǤ͵ ʹǤͶ

ͲǤͲΨ ͲǤͲΨ ǦͷͳǤͶΨ ͷǤͳΨ ͳͲǤͺΨ ͲǤͲΨ

4.0

4.0

0.0%

 Š‡‘˜‡”ƒŽŽ…ƒ•‡‹š‹†‡šǡ™Š‹…Š‹•ƒ‹†‹…ƒ–‘”‘ˆ’ƒ–‹‡–ƒ…—‹–›ǡ™ƒ•ͳǤͶ͵‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵ǡ…‘’ƒ”‡†–‘ͳǤͶͶ‹ ˆ‹•…ƒŽ›‡ƒ”ʹͲͳʹǤ OperatingExpenses  Other $80,622 $80,622 12%

$ 83,273

Totalnetposition,endofyear

%Change

2013 

Other $80,762 13%

Professional & Professional& Purchased Purchased Services $90,649 $90,649 14%



Supplies $103,603 $103,603 16%

Salaries & Salaries& Ben‡ϐits Benefits $373,480 $373,480 58%

Professional & Professional& Purchased Purchased Services $93,324 16%

2012 

Salaries & Salaries& Beneϐits Benefits $330,472 55%

Supplies $94,196 16%

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Page 5 of 28

December 13, 2013 ■ Mountain View Voice ■ MountainViewOnline.com ■

37


EL CAMINO HEALTHCARE DISTRICT MANAGEMENT’S DISCUSSION AND ANALYSIS For the Years Ended June 30, 2013, 2012 and 2011

ELCAMINOHEALTHCAREDISTRICT

LosGatos

MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011   

ELCAMINOHEALTHCAREDISTRICT MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011    ‹‰‹ˆ‹…ƒ–‹…”‡ƒ•‡•™‡”‡ƒ•ˆ‘ŽŽ‘™•ǣ

•†‹•…—••‡†‹’”‹‘”›‡ƒ”Ƭǯ•ǡ–Š‡‘• ƒ–‘•…ƒ’—•‘ˆŽƒ‹‘ ‘•’‹–ƒŽ‘……—””‡†‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͲǡ™‹–Š–Š‡ —Ž›ʹͲͲͻ‘’‡‹‰‘ˆ–Š‡‡™Ž›ƒ…“—‹”‡†Š‘•’‹–ƒŽ‹–Š‡‘• ƒ–‘•Ȁƒ’„‡ŽŽƒ”‡ƒǤ ‘”–Š‡ˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵‹–Šƒ†ƒ ‘’‡”ƒ–‹‰ ‹…‘‡ ‘ˆ ̈́ͳ͵Ǥͺ ‹ŽŽ‹‘ǡ ™Š‹…Š ‹…Ž—†‡† ƒ …Šƒ”‰‡ ˆ‘” ‘˜‡”Š‡ƒ† ˆ”‘ –Š‡ ‘—–ƒ‹ ‹‡™ …ƒ’—• ‘ˆ ̈́ͳͲǤͷ ‹ŽŽ‹‘Ǥ

x

‡ƒŽ–Š…ƒ”‡ ‡š’‡•‡ ‹…”‡ƒ•‡† „› ̈́ͷǤʹ ‹ŽŽ‹‘ –Š‹• ˆ‹•…ƒŽ ›‡ƒ” ‘˜‡” ʹͲͳʹǤ Š‹• ™ƒ• ƒ––”‹„—–ƒ„Ž‡ –‘ –Š‡ ‘•’‹–ƒŽ ”‡˜‡”–‹‰ „ƒ… –‘ …‘˜‡”‹‰ ͳͲͲΨ ‘ˆ –Š‡ ’”‡‹— ˆ‘” –Š‡ Š‡ƒŽ–Š…ƒ”‡ ƒ† †‡–ƒŽ …‘˜‡”ƒ‰‡ –Šƒ– „‡…ƒ‡‡ˆˆ‡…–‹˜‡ ƒ—ƒ”›ʹͲͳ͵Ǥ’Ž‘›‡‡•Šƒ†’”‡˜‹‘—•Ž›…‘–”‹„—–‡†ͳͲΨ‘ˆ–Š‡•‡…‘•–•ǤŽ•‘ƒ††‹‰–‘ –Š‡ ‹…”‡ƒ•‡ ™‡”‡ –Š‡ ‘˜‡”ƒŽŽ ‘–ŠŽ› ’”‡‹— ‹…”‡ƒ•‡• ƒ† –Š‡ ‹…”‡ƒ•‡ ‹ –Š‡ —„‡” ‘ˆ …‘˜‡”‡† ‡’Ž‘›‡‡•Ǥ

x

……”—‡† ƒ‹† ‹‡ ˆˆ ‹…”‡ƒ•‡† „› ̈́͵Ǥͻ ‹ŽŽ‹‘ †”‹˜‡ „› •ƒŽƒ”› ƒ† ™ƒ‰‡ ‹…”‡ƒ•‡•ǡ ˆŽƒ– †‘ŽŽƒ” †‹ˆˆ‡”‡–‹ƒŽ• „‡‹‰ ’ƒ‹† ˆ‘” ǯ• ‘ ‡˜‡‹‰ ƒ† ‹‰Š– •Š‹ˆ–• ƒ† ™Š‹Ž‡ ‘ ‡š–‡†‡† •‹… Ž‡ƒ˜‡ǡ ƒ† –Š‡ ‘˜‡”ƒŽŽ ‹…”‡ƒ•‡Ǥˆˆ‡…–‹˜‡ ƒ—ƒ”›ʹͲͳ͵–Š‡ƒš‹—ƒ……”—ƒŽDz„ƒdz™ƒ•‹…”‡ƒ•‡†ˆ”‘͵ͷͲŠ‘—”• –‘ͶͲͲŠ‘—”•ˆ‘”ǡ Ǧ ǡƒ†Š‘•’‹–ƒŽ”‡’”‡•‡–‡†•–ƒˆˆǤ

x

‘”‡”• ‘’‡•ƒ–‹‘ …‘•–• ‹…”‡ƒ•‡† „› ̈́͵Ǥͷ ‹ŽŽ‹‘ ’”‹ƒ”‹Ž› †—‡ –‘ –Š‡ ‡‡† –‘ ‹…”‡ƒ•‡ ƒ…–—ƒ”‹ƒŽ ”‡•‡”˜‡•ƒ†–Šƒ––Š‡‘Ǧ‰‘‹‰…Žƒ‹’ƒ›‡–•‰”‡™‘˜‡”–Š‡’”‹‘”›‡ƒ”Ǥ

x

’Ž‘›‡”‘…‹ƒŽ‡…—”‹–›ƒ†‡†‹…ƒ”‡–ƒš‡•‹…”‡ƒ•‡†„›̈́ͳǤ͹‹ŽŽ‹‘‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵†”‹˜‡„›–Š‡ ‹…”‡ƒ•‡‹–Š‡‘…‹ƒŽ‡…—”‹–›™ƒ‰‡–Š”‡•Š‘Ž†ǡ•ƒŽƒ”›ƒ†™ƒ‰‡‹…”‡ƒ•‡•ǡƒ†ƒ††‹–‹‘ƒŽ ǯ•Ǥ

x

ͶͲ͵ ’Ž‘›‡” ƒ–…Š ‡š’‡•‡ ‹…”‡ƒ•‡† –Š‹• ›‡ƒ” ‘˜‡” ’”‹‘” ›‡ƒ” „› ̈́ͳǤʹ ‹ŽŽ‹‘ †—‡ –‘ ‹…”‡ƒ•‡† ’ƒ”–‹…‹’ƒ–‹‘ƒ†–Š‡”‡–—”–‘ƒ‡Šƒ…‡‡–ƒ–…Š‘ˆͷΨƒ†͸Ψˆ‘”‡’Ž‘›‡‡•™‹–ŠŽ‘‰‡˜‹–›‘ˆͳͷ ›‡ƒ”•ƒ†ʹͲ›‡ƒ”•”‡•’‡…–‹˜‡Ž›Ǥ

SalariesandWages

–‹•–‘„‡‘–‡†–Šƒ––Š‡‹•–”‹…–ƒ•ƒ•–ƒ†ǦƒŽ‘‡‡–‹–›Šƒ•‘‡’Ž‘›‡‡•ǤŽŽ‡’Ž‘›‡‡•ƒ”‡ƒ––Š‡ ‘•’‹–ƒŽƒ†‹–• ”‡Žƒ–‡†…‘”’‘”ƒ–‹‘•Ǥ ‘–ƒŽ•ƒŽƒ”‹‡•ƒ†™ƒ‰‡•ȋ‹…Ž—†‹‰‡’Ž‘›‡‡„‡‡ˆ‹–•Ȍ‹…”‡ƒ•‡†„›̈́Ͷ͵‹ŽŽ‹‘‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵‘˜‡”ʹͲͳʹǡ™Š‹…Š ‹• ͷ͹Ǥ͸Ψ ‘ˆ –‘–ƒŽ ‘’‡”ƒ–‹‰ ‡š’‡•‡• …‘’ƒ”‡† –‘ ͷͷǤʹΨ ‹ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹǤ ƒŽƒ”‹‡• ƒ† ™ƒ‰‡• ȋ‡š…Ž—•‹˜‡ ‘ˆ ‡’Ž‘›‡‡„‡‡ˆ‹–•Ȍ‹…”‡ƒ•‡†„›̈́ʹͷǤͶ‹ŽŽ‹‘‘˜‡”ˆ‹•…ƒŽ›‡ƒ”ʹͲͳʹǤ’ƒ›”‘ŽŽ•ƒŽƒ”‹‡•‹…”‡ƒ•‡†„›̈́ͳͷǤʹ‹ŽŽ‹‘‹ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳ͵ …‘’ƒ”‡† –‘ ʹͲͳʹǤ ’’”‘š‹ƒ–‡Ž› ̈́ͷǤͷ ‘ˆ –Š‹• ‹…”‡ƒ•‡ ™ƒ• †—‡ –‘ –Š‡ ƒ˜‡”ƒ‰‡ ™ƒ‰‡ ‹…”‡ƒ•‡ ‘ˆ ͸ǤͺΨ‰”ƒ–‡†ȋ”‘ˆ‡••‹‘ƒŽ‡•‘—”…‡‘ˆ—”•‡•Ȃ–Š‡ǯ•„ƒ”‰ƒ‹‹‰—‹–Ȍ‹’Ž‡‡–‡†‹’”‹Žƒ† —‡ʹͲͳʹ –Šƒ–…ƒ””‹‡†ˆ‘”™ƒ”†ˆ‘”–Š‡‡–‹”‡ˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵Ǥƒ”…Š͵ͳǡʹͲͳ͵ǡ™ƒ•‰”ƒ–‡†ƒ‘–Š‡”ʹΨ‹…”‡ƒ•‡ǡƒ† ™‹ŽŽ”‡…‡‹˜‡ʹΨ‹…”‡ƒ•‡•‡˜‡”›•‹š‘–Š•‘˜‡”–Š‡‡š–ͳͺ‘–Š•Ǥ‹–Šƒ–—”‘˜‡””ƒ–‡‘ˆ͸ǤʹΨǡ–Š‡ ‘•’‹–ƒŽ‹• „‡Ž‘™ –Š‡ ‘”–Š‡” ƒŽ‹ˆ‘”‹ƒ ”ƒ–‡ Š‘Ž†‹‰ ƒ– ͺǤͺΨǡ ƒ• ’—„Ž‹•Š‡† „› –Š‡ ƒŽ‹ˆ‘”‹ƒ ‘•’‹–ƒŽ ••‘…‹ƒ–‹‘ ȋDz dzȌǤ  ʹͲͳ͵ǡ –Š‡ ‘•’‹–ƒŽ ƒ††‡† ͳʹ͸ ǯ• ȋDz —ŽŽ ‹‡ “—‹˜ƒŽ‡–•dzȌǡ ‘ˆ ™Š‹…Š ͻ͸ ǯ• ™‡”‡ ‹ —”•‹‰ ƒ† …Ž‹‹…ƒŽ †‡’ƒ”–‡–•Ǥ ˆˆ‡…–‹˜‡„‡‰‹‹‰–Š‡ˆ‘—”–Š“—ƒ”–‡”‘ˆˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵ǡ–Š‡‡’Ž‘›‡‡•‘ˆ–Š‡ ‘•’‹–ƒŽǯ•’”‡˜‹‘—•Ž›‘—–•‘—”…‡†  ƒ† ‡ƒŽ–Š ˆ‘”ƒ–‹‘ƒƒ‰‡‡–•‡”˜‹…‡•†‡’ƒ”–‡–•„‡…ƒ‡‡’Ž‘›‡‡•‘ˆ–Š‡ ‘•’‹–ƒŽǡ™Š‹…Š…ƒ—•‡†ƒ•ƒŽƒ”‹‡• ƒ†„‡‡ˆ‹–•‡š’‡•‡‘ˆ̈́ʹǤͻ‹ŽŽ‹‘‘˜‡”–Š‡’”‹‘”ˆ‹•…ƒŽ›‡ƒ”Ǥ

ProfessionalandPurchasedServices

’Ž‘›‡‡• ”‡’”‡•‡–‡† „›   ‹–‡† ‡ƒŽ–Š…ƒ”‡ ‘”‡”• ȋDz  Ȃ  dzȌ ‡‰‘–‹ƒ–‡† ƒ ‡™ …‘–”ƒ…– ™‹–Š –Š‡ ‘•’‹–ƒŽǡƒˆ–‡””‡ƒ…Š‹‰ƒ‹’ƒ••‡‹Žƒ„‘”‡‰‘–‹ƒ–‹‘•ǡ–Š‡ ‘•’‹–ƒŽ‘ƒ”†ƒ’’”‘˜‡†‹’Ž‡‡–ƒ–‹‘‘ˆ–Š‡Dzƒ•–ǡ ‡•– ƒ† ‹ƒŽ ˆˆ‡”dz –‘ –Š‡  Ǧ  ‘ …–‘„‡” ͳͳǡ ʹͲͳͳǤ Š‡ ‡™ …‘–”ƒ…– ™ƒ• ”ƒ–‹ˆ‹‡† ƒ† ƒ’’”‘˜‡† „› –Š‡ ‘•’‹–ƒŽ‘ƒ”†‘…–‘„‡”ͳͲǡʹͲͳʹƒ†‡š–‡†•–Š”‘—‰Š —‡ʹͲͳͷǤ’Ž‘›‡‡•‘ˆ Ǧ ”‡…‡‹˜‡†ƒ͵Ψ‹…”‡ƒ•‡ ƒ––Š‡ —Ž›ʹͲͳʹ…‘–”ƒ…–•–ƒ”–†ƒ–‡Ǥ

ˆˆ‡…–‹˜‡„‡‰‹‹‰–Š‡ˆ‘—”–Š“—ƒ”–‡”‘ˆˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵ǡ–Š‡‡’Ž‘›‡‡•‘ˆ‘—”’”‡˜‹‘—•Ž›‘—–•‘—”…‡† ƒ† ‡ƒŽ–Š

ˆ‘”ƒ–‹‘ ƒƒ‰‡‡– ‡”˜‹…‡• „‡…ƒ‡ ‡’Ž‘›‡‡• ‘ˆ –Š‡ ‘•’‹–ƒŽǡ ™Š‹…Š …ƒ—•‡† ƒ †‡…”‡ƒ•‡ ‘ˆ ̈́ͶǤ͵ ‹ŽŽ‹‘ ‹ ’—”…Šƒ•‡† •‡”˜‹…‡• †—”‹‰ –Š‡ Žƒ•– “—ƒ”–‡” ‘ˆ ˆ‹•…ƒŽ ʹͲͳ͵Ǥ ˆˆ•‡––‹‰ ‘•– ‘ˆ –Š‹• ̈́ͶǤ͵ ‹ŽŽ‹‘ ™‡”‡ ‹…”‡ƒ•‡• ˆ‘” ’Š›•‹…‹ƒ ‡†‹…ƒŽ ƒ† †‹”‡…–‘”•Š‹’ ˆ‡‡•ǡ ƒƒ‰‡‡– ˆ‡‡• ˆ‘” –Š‡ ’ƒ–‹‡– ‡Šƒ„ ƒ– ‘• ƒ–‘• †—‡ –‘ ‹…”‡ƒ•‡† ƒ…–‹˜‹–›ǡƒ‹–‡ƒ…‡•‡”˜‹…‡•ˆ‘”–Š‡ˆƒ…‹Ž‹–‹‡•ǡƒ†‘—–•‹†‡ ƒ‰‡…›•‡”˜‹…‡•ˆ‘”ƒƒ‰‡”•‹–Š‡…”‹–‹…ƒŽ…ƒ”‡ǡ•–‡”‹Ž‡ ’”‘…‡••‹‰ƒ††‹ƒŽ›•‹•†‡’ƒ”–‡–•Ǥ

Š‡ ‘•’‹–ƒŽǯ• –ƒ–‹‘ƒ”› ‰‹‡‡”• Ȃ ‘…ƒŽ ͵ͻ ’‡” –Š‡‹” …—””‡– …‘–”ƒ…– ™‡”‡ ’”‘˜‹†‡† ƒ ͶΨ ‹…”‡ƒ•‡ ‡ˆˆ‡…–‹˜‡ ‘˜‡„‡”ͳͳǡʹͲͳʹǤ ‘•’‹–ƒŽǦ”‡’”‡•‡–‡†ǡ ‘Ǧƒƒ‰‡‡– •–ƒˆˆ ™‡”‡ ‰”ƒ–‡† ƒ ͵Ψ •ƒŽƒ”› ƒ† ™ƒ‰‡ ‹…”‡ƒ•‡ ‡ˆˆ‡…–‹˜‡ —Ž› ͷǡ ʹͲͳʹǤ ‹–Š‹–Š‡ƒƒ‰‡‡–•–ƒˆˆǡ…‡”–ƒ‹ƒƒ‰‡”•”‡…‡‹˜‡†ƒ”‡–Ǧ„ƒ•‡†•ƒŽƒ”›ƒ†Œ—•–‡–•‡ˆˆ‡…–‹˜‡—‰—•–ͷǡʹͲͳʹǤ

‘–ƒŽ’”‘ˆ‡••‹‘ƒŽˆ‡‡•ƒ†’—”…Šƒ•‡†•‡”˜‹…‡•†‡…”‡ƒ•‡†„›̈́ʹǤ͹‹ŽŽ‹‘‘˜‡”–Š‡’”‹‘”ˆ‹•…ƒŽ›‡ƒ”Ǥ

Supplies

‡‹‘” ‡š‡…—–‹˜‡ •–ƒˆˆ ”‡…‡‹˜‡† ƒ”‡–Ǧ„ƒ•‡† ƒ†Œ—•–‡–• ‡ˆˆ‡…–‹˜‡ —‰—•– ͷǡ ʹͲͳʹ –Šƒ– ƒ˜‡”ƒ‰‡† ʹǤ͹Ψ ‹ –Š‡ ƒ‰‰”‡‰ƒ–‡Ǥ

‘–ƒŽ •—’’Ž‹‡• ‹…”‡ƒ•‡† „› ̈́ͻǤͶ ‹ŽŽ‹‘ ‹ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳ͵ ‘˜‡” ʹͲͳʹǤ ‹‰‹ˆ‹…ƒ– ƒ”‡ƒ• ‘ˆ ‹…”‡ƒ•‡ ™‡”‡ ‹ –Š‡ •—”‰‡”‹‡• ƒ– „‘–Š …ƒ’—•‡•ǡ ‡•’‡…‹ƒŽŽ› –Š‡ ”–Š‘’‡†‹… ’‹‡ ’”‘‰”ƒ ƒ– ‘• ƒ–‘•ǡ ‹–‡”˜‡–‹‘ƒŽ ”ƒ†‹‘Ž‘‰› ’”‘…‡†—”‡•ǡ ’Šƒ”ƒ…‡—–‹…ƒŽ •—’’Ž‹‡•ǡ ƒ† ˆƒ…‹Ž‹–› „—‹Ž†‹‰ ƒ‹–‡ƒ…‡ •—’’Ž‹‡•Ǥ ‘–‹—‡† ‹…”‡ƒ•‡• ˆ‘” ‹‘” ‡“—‹’‡– ȋ’”‹ƒ”‹Ž› ‡†‹…ƒŽȌ †—‡ –‘ …Šƒ‰‡• ƒ†‡ –‘ –Š‡ –Š”‡•Š‘Ž† ˆ‘” …ƒ’‹–ƒŽ‹œƒ–‹‘ ‘ˆ ‡“—‹’‡– ˆ”‘ –Š‡ ’”‡˜‹‘—•̈́ͳǡͲͲͲ–‘̈́ʹǡͷͲͲƒ––Š‡‡†‘ˆˆ‹•…ƒŽ›‡ƒ”ʹͲͳʹǤ

EmployeeBenefits

DepreciationandAmortization

‰‰”‡‰ƒ–‡‡’Ž‘›‡‡„‡‡ˆ‹–•ǡ‹…Ž—†‹‰ƒ……”—‡†ƒ‹†‹‡ˆˆȋDzdzȌƒ†š–‡†‡†‹…‡ƒ˜‡‹…”‡ƒ•‡†„›̈́ͳ͹Ǥ͸ ‹ŽŽ‹‘Ǥ

‡’”‡…‹ƒ–‹‘ ‡š’‡•‡ –Š‹• ˆ‹•…ƒŽ ›‡ƒ” †‡…”‡ƒ•‡† ‘˜‡” –Š‡ ’”‹‘” ›‡ƒ” „› ̈́ͳǤʹ ‹ŽŽ‹‘ǡ ’”‹ƒ”‹Ž› ƒ––”‹„—–ƒ„Ž‡ †—‡ –‘ ‡†‹…ƒŽ‡“—‹’‡–‹–Š‡—”‰‡”›ƒ† ƒ‰‹‰†‡’ƒ”–‡–•ƒ†…‡”–ƒ‹ƒŒ‘”•‘ˆ–™ƒ”‡„‡…‘‹‰ˆ—ŽŽ›†‡’”‡…‹ƒ–‡† †—”‹‰–Š‡…—””‡–ˆ‹•…ƒŽ›‡ƒ”Ǥ RentandUtilities Š‡ǤͳΨ‹…”‡ƒ•‡‡š’‡”‹‡…‡†‹–Š‡…—””‡–ˆ‹•…ƒŽ›‡ƒ”‹•‹ƒ–‡”‹ƒŽǤ

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■ Mountain View Voice ■ MountainViewOnline.com ■ December 13, 2013


EL CAMINO HEALTHCARE DISTRICT MANAGEMENT’S DISCUSSION AND ANALYSIS For the Years Ended June 30, 2013, 2012 and 2011

ELCAMINOHEALTHCAREDISTRICT

InterestExpense

MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011   

–‡”‡•–‡š’‡•‡‹•’”‹ƒ”‹Ž›ƒ”‡•—Ž–‘ˆ–Š‡ʹͲͲ͹ƒ†ʹͲͲͻ„‘††‡„–ǡ™‹–Š‹‘”ƒ‘—–•‘–Š‡…—””‡–…ƒ’‹–ƒŽ‹œ‡† ‡“—‹’‡––Šƒ–ƒ”‡‡–‡”‹‰–Š‡‹”ˆ‹ƒŽ›‡ƒ”Ǥ OtherExpense Š‡ ‹…”‡ƒ•‡ ‘ˆ ̈́ͲǤ͹ ‹ŽŽ‹‘ ‘˜‡” –Š‡ ’”‹‘” ˆ‹•…ƒŽ ›‡ƒ” ™ƒ• ’”‹…‹’ƒŽŽ› ‹ –Š‡ ƒ”‡ƒ• ‘ˆ …‘—‹–› •’‘•‘”•Š‹’• ƒ† ˆ‘”‰‹˜‡‡••‘Ž‘ƒ•‰”ƒ–‡†…‡”–ƒ‹”‡…”—‹–‡†’Š›•‹…‹ƒ•–Šƒ–ƒ”‡‡‡†‡†™‹–Š‹–Š‡…‘—‹–‹‡•‘ˆ–Š‡ ‘•’‹–ƒŽƒ† ”‡ƒ‹‡†‹–Š‡‹”’”ƒ…–‹…‡•Ǥ ChangeinNetUnrealizedGainsandLossesonInvestments ‘” ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳ͵ǡ –Š‡ ‘•’‹–ƒŽ Šƒ† •‡˜‡–‡‡ ‘‡› ƒƒ‰‡”• ™‹–Š †‹ˆˆ‡”‡– ‹˜‡•–‡– ‘„Œ‡…–‹˜‡• ˆ‘” –Š‡ ‘•’‹–ƒŽǯ• •—”’Ž—• …ƒ•Š ‹˜‡•–‡–•Ǥ ‘–ƒŽ ‡– —”‡ƒŽ‹œ‡† ‰ƒ‹•ȀŽ‘••‡• ƒ”‡ ”‡’‘”–‡† ‹ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•†—”‹‰–Š‹•ˆ‹•…ƒŽ›‡ƒ”Ǥ Š‡…Šƒ‰‡‹‡–—”‡ƒŽ‹œ‡†‰ƒ‹•ƒ†Ž‘••‡•ˆ‘”ˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵™ƒ•ƒ‡ƒ”‘˜‡”‡ƒ”ȋȌ’‘•‹–‹˜‡…Šƒ‰‡‘ˆ̈́ͲǤͳ ‹ŽŽ‹‘ǤŠ‡‡–—”‡ƒŽ‹œ‡†‰ƒ‹‹ʹͲͳ͵™ƒ•ƒ”‡•—Ž–‘ˆ•–”‘‰‡“—‹–›ƒ”‡–”‡–—”•ƒ•–Š‡ƬͷͲͲ †‡š™ƒ•—’ ʹͲǤ͸Ψ ˆ‘” –Š‡ –™‡Ž˜‡ ‘–Š• ‡†‡† —‡͵Ͳǡ ʹͲͳ͵Ǥ Š‡ …‘„‹ƒ–‹‘ ‘ˆ ‡“—‹–‹‡• ƒ† —–—ƒŽ ˆ—†• —”‡ƒŽ‹œ‡† ‰ƒ‹• ™ƒ•–Š‡ƒ‹†”‹˜‡”‘ˆ–Š‡‹…”‡ƒ•‡Ǥ—–—ƒŽˆ—†‹˜‡•–‡–•ƒ”‡’”‹ƒ”‹Ž›…‘’”‹•‡†‘ˆ‡“—‹–›•‡…—”‹–‹‡•Ǥ

ELCAMINOHEALTHCAREDISTRICT MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011    InpatientBusinessActivity 2012Days

2011Days

‡†‹…ƒŽȀ—”‰‹…ƒŽ ƒ–‡”‹–› ‡†‹ƒ–”‹…•   •›…Š‹ƒ–”› ‘”ƒŽ‡™„‘”

Specialty

 ͷͷǡͻͻʹ  ͳͳǡ͸͵ʹ  ͵͵Ͷ ͶǡͻͶ͸ ͹ǡͶʹͻ  ͳͲǡͶ͸ͻ

 ͷ͹ǡͳʹͷ  ͳʹǡͳͳͺ ʹͲͶ Ͷǡͻ͵͸ ͹ǡ͵͹ͷ  ͳͲǡͻͻͲ

ǦʹǤͲΨ ǦͶǤͲΨ ͸͵Ǥ͹Ψ ͲǤʹΨ ͲǤ͹Ψ ǦͶǤ͹Ψ

Total

 90,802

 92,748

Ǧ2.1%

2012LOS

2011LOS

Specialty ‡†‹…ƒŽȀ—”‰‹…ƒŽ ƒ–‡”‹–› ‡†‹ƒ–”‹…•   •›…Š‹ƒ–”› ‘”ƒŽ‡™„‘”

ͶǤ͸ ʹǤ͸ ͵Ǥͷ ͻǤͺ ͺǤ͵ ʹǤͶ

Total

%Change

%Change ͶǤͷ ʹǤ͸ ʹǤͲ ͻǤͻ ͹Ǥ͸ ʹǤͶ

 4.0

ʹǤʹΨ ͲǤͲΨ ͹ͷǤͲΨ ǦͳǤͲΨ ͻǤʹΨ ͲǤͲΨ

4.1

Ǧ2.4%

‹š‡†‹…‘‡•‡…—”‹–‹‡•‡š’‡”‹‡…‡†ƒ‡–—”‡ƒŽ‹œ‡†Ž‘••‘ˆ̈́ͲǤͻ‹ŽŽ‹‘‹ʹͲͳ͵ǡ™Š‡”‡ƒ•ǡ‡“—‹–‹‡•…‘–”‹„—–‡†̈́ͲǤ͵ ‹ŽŽ‹‘‹‡–—”‡ƒŽ‹œ‡†‰ƒ‹•‹ʹͲͳʹǤŠ‡ƒ”…Žƒ›•ƒ’‹–ƒŽ‰‰”‡‰ƒ–‡ †‡š”‡–—”‡†͹ǤͷΨˆ‘”–Š‡–™‡Ž˜‡‘–Š• ‡†‡† —‡͵ͲǡʹͲͳʹǤ

 Š‡‘˜‡”ƒŽŽ…ƒ•‡‹š‹†‡šǡ™Š‹…Š‹•ƒ‹†‹…ƒ–‘”‘ˆ’ƒ–‹‡–ƒ…—‹–›ǡ™ƒ•ͳǤͶͶ‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳʹǡ…‘’ƒ”‡†–‘ͳǤͳ͹‹ ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͳǤ

EconomicFactorsandNextYear’sBudget

OperatingExpenses

Š‡‘ƒ”†ƒ’’”‘˜‡†–Š‡ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͶ„—†‰‡–ƒ––Š‡‹” —‡ʹͲͳ͵‡‡–‹‰ǤŠ‡‹•–”‹…–‹•„—†‰‡–‹‰‡–‹…‘‡‘ˆ ̈́ͺ͵Ǥʹ‹ŽŽ‹‘‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͶǤ‘Ž—‡•ƒ”‡‡š’‡…–‡†–‘‹…”‡ƒ•‡„›ͳΨ†—‡–‘‡š’ƒ•‹‘‘ˆ–Š‡”–Š‘’‡†‹…Ƭ’‹‡ •‡”˜‹…‡Ž‹‡•ǡƒ•™‡ŽŽƒ•ƒ‡™‡—”‘Ǧ‹–‡”˜‡–‹‘ƒŽ’”‘‰”ƒǤ …”‡ƒ•‡•‹”‡‹„—”•‡‡–ƒ”‡„—†‰‡–‡†–‘„‡„‡Ž‘™ –Š‡ ”ƒ–‡ ‘ˆ ‡š’‡•‡ ‹ˆŽƒ–‹‘Ǥ ††‹–‹‘ƒŽŽ›ǡ –Š‡ ‘”‰ƒ‹œƒ–‹‘ …‘–‹—‡• –‘ ‹’”‘˜‡ ’ƒ–‹‡– •ƒ–‹•ˆƒ…–‹‘ Ž‡˜‡Ž• ƒ† “—ƒŽ‹–›ƒ†‡š’‡…–•–‘‹…—”‹…”‡ƒ•‡†…‘•–•ƒ•‹–‹˜‡•–•‹•–”ƒ–‡‰‹…‹‹–‹ƒ–‹˜‡•…‘–‹——‘ˆ…ƒ”‡‹‹–‹ƒ–‹˜‡•Ǥ FiscalYear2012ConsolidatedFinancialAnalysis NetPatientServicesRevenues

 Other $80,762 $80,762 13% Professional& Professional & Purchased Purchased Services $93,324 $93,324 16%

‡– ’ƒ–‹‡– •‡”˜‹…‡• ”‡˜‡—‡ ‹ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹ ‹…”‡ƒ•‡† „› ̈́͵͵Ǥʹ ‹ŽŽ‹‘ ‘” ͷǤͷΨ ‘˜‡” ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳͳǤ Š‹• ‹…”‡ƒ•‡ ™ƒ• †—‡ –‘ …Šƒ‰‡• ‹ ’ƒ›‘” ”‡‹„—”•‡‡– ƒ””ƒ‰‡‡–•ǡ ‹…”‡ƒ•‡• ‹ •—”‰‹…ƒŽ ˜‘Ž—‡ ƒ† ‡‡”‰‡…› †‡’ƒ”–‡– ˜‹•‹–• ƒ– –Š‡ ‘—–ƒ‹ ‹‡™ …ƒ’—•ǡ ‹…”‡ƒ•‡• ‹ ƒ†‹••‹‘• ƒ– –Š‡ ‘• ƒ–‘• …ƒ’—•ǡ ƒ†

–‡”‰‘˜‡”‡–ƒŽ”ƒ•ˆ‡”ȋDz

dzȌ’ƒ›‡–•ˆ”‘–Š‡•–ƒ–‡‡†‹ǦƒŽ’”‘‰”ƒˆ‘”—…‘’‡•ƒ–‡†…ƒ”‡Ǥ

Supplies $94,196 $94,196 16%

 2012

Other $79,248 14%

Salaries& Salaries & Ben‡ϐits Benefits $330,472 $330,472 55%

Professional& Professional & Purchased Purchased Services $101,386 18%

 2011

Salaries& Salaries & Benefits Beneϐits $307,707 53%

Supplies $88,761 15%

 LosGatos • †‹•…—••‡† ‹ –Š‡ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳͳ ƒƒ‰‡‡– ‹•…—••‹‘ ƒ† ƒŽ›•‹•ǡ –Š‡”‡ ™ƒ• –Š‡ ƒ††‹–‹‘ ‘ˆ –Š‡ ‘• ƒ–‘• …ƒ’—•‘ˆŽƒ‹‘ ‘•’‹–ƒŽǡ™Š‹…Š‘’‡‡†‹ —Ž›ʹͲͲͻǤ ‘”ˆ‹•…ƒŽ›‡ƒ”ʹͲͳʹǡ–Š‡‘• ƒ–‘•…ƒ’—•‰‡‡”ƒ–‡†ƒ ‘’‡”ƒ–‹‰ ‹…‘‡ ‘ˆ ̈́ͳ͹Ǥ͵ ‹ŽŽ‹‘ ‘˜‡” –Š‡ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳͳ ‘’‡”ƒ–‹‰ ‹…‘‡ ‘ˆ ̈́ͳʹǤ͵ ‹ŽŽ‹‘ ˆ‘” ƒ ̈́ͷǤͲ ‹ŽŽ‹‘ ‹…”‡ƒ•‡ǤŠ‡‘• ƒ–‘•…ƒ’—•‹•…Šƒ”‰‡†…‘•–•‘ˆ‘˜‡”Š‡ƒ†ˆ”‘–Š‡‘—–ƒ‹‹‡™…ƒ’—•‹–Š‡ƒ‘—–‘ˆ̈́ͺǤͷ ‹ŽŽ‹‘ƒ†̈́ͻǤͲ‹ŽŽ‹‘‹–Š‡”‡•’‡…–‹˜‡›‡ƒ”•Ǥ

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39


EL CAMINO HEALTHCARE DISTRICT MANAGEMENT’S DISCUSSION AND ANALYSIS For the Years Ended June 30, 2013, 2012 and 2011

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

SalariesandWages

MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011    x ”‡…‘‰‹–‹‘‘ˆ–Š‡ ‘•’‹–ƒŽǯ••–”‘‰ˆ‹ƒ…‹ƒŽ’‡”ˆ‘”ƒ…‡‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳʹǡƒ•™‡ŽŽƒ•‹’”‘˜‡‡–• ‹’ƒ–‹‡–•ƒ–‹•ˆƒ…–‹‘ƒ†“—ƒŽ‹–›…ƒ”‡–Š‡‘ƒ”†ƒ’’”‘˜‡†ƒ‘˜‡”ƒŽŽDz’Ž‘›‡‡‡…‘‰‹–‹‘™ƒ”†dz–‘ ‡ƒ”Ž›ƒŽŽ‡’Ž‘›‡‡•ǤŠ‹•‡š’‡…–‡†…‘•–ǡƒŽ‘‰™‹–Š–Š‡ƒ–‹…‹’ƒ–‡†‹…”‡ƒ•‡ˆ‘”‹…‡–‹˜‡’ƒ›’”‘˜‹†‡† •‡‹‘”ƒƒ‰‡‡–ǡ†‹”‡…–‘”•ǡƒ†ƒƒ‰‡”•‰‹˜‡–Š‡‹”‹†‹˜‹†—ƒŽ’‡”ˆ‘”ƒ…‡‡˜ƒŽ—ƒ–‹‘•ƒ†‰‘ƒŽ•ǡ …‘–”‹„—–‡†–‘ƒƒ’’”‘š‹ƒ–‡̈́ʹǤ͵‹ŽŽ‹‘‹…”‡ƒ•‡‘˜‡”ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͳǤ

MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011   

–‹•–‘„‡‘–‡†–Šƒ––Š‡‹•–”‹…–ƒ•ƒ•–ƒ†ǦƒŽ‘‡‡–‹–›Šƒ•‘‡’Ž‘›‡‡•ǤŽŽ‡’Ž‘›‡‡•ƒ”‡ƒ––Š‡ ‘•’‹–ƒŽƒ†‹–• ”‡Žƒ–‡†…‘”’‘”ƒ–‹‘•Ǥ ‘–ƒŽ •ƒŽƒ”‹‡• ƒ† ™ƒ‰‡• ȋ‹…Ž—†‹‰ ‡’Ž‘›‡‡ „‡‡ˆ‹–•Ȍ ‹…”‡ƒ•‡† „› ̈́ʹʹǤͺ ‹ŽŽ‹‘ ‹ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹ ‘˜‡” ʹͲͳͳǡ ™Š‹…Š‹•ͷͷǤʹΨ‘ˆ–‘–ƒŽ‘’‡”ƒ–‹‰‡š’‡•‡•…‘’ƒ”‡†–‘ͷ͵Ǥ͵Ψ‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͳǤƒŽƒ”‹‡•ƒ†™ƒ‰‡•ȋ‡š…Ž—•‹˜‡‘ˆ ‡’Ž‘›‡‡„‡‡ˆ‹–•Ȍ‹…”‡ƒ•‡†„›̈́ͻǤ͸‹ŽŽ‹‘‘˜‡”ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͳǤˆˆ‡…–‹˜‡–Š‡‡†‘ˆ’”‹Žƒ†–Š‡„‡‰‹‹‰‘ˆ —‡ ʹͲͳʹǡ–Š‡„ƒ”‰ƒ‹‹‰—‹–ˆ‘”—”•‡•ȋȂ”‘ˆ‡••‹‘ƒŽ‡•‘—”…‡•‘ˆ—”•‡•Ȍ”‡…‡‹˜‡†•ƒŽƒ”›‹…”‡ƒ•‡•ƒ†ƒ”‡– ƒ†Œ—•–‡–• ˆ‘” …‡”–ƒ‹ …Ž‹‹…ƒŽ ’‘•‹–‹‘• –Šƒ– ‹…”‡ƒ•‡† –Š‡ ƒ˜‡”ƒ‰‡ ™ƒ‰‡ ”ƒ–‡ „› ͸ǤͺΨǤ Š‹• ‹…”‡ƒ•‡ ”‡•–‘”‡† …‘’‡–‹–‹˜‡ ™ƒ‰‡• ƒŽŽ‘™‹‰ –Š‡ ‹•–”‹…– –‘ Š‹”‡ ‡š’‡”‹‡…‡† ǯ•Ǥ ‹–Š ƒ  –—”‘˜‡” ”ƒ–‡ ‘ˆ ͹Ǥ͵Ψǡ –Š‡ ‹•–”‹…– ‹• „‡Ž‘™–Š‡‘”–Š‡”ƒŽ‹ˆ‘”‹ƒ–—”‘˜‡””ƒ–‡‘ˆͺǤͺΨƒ•’—„Ž‹•Š‡†„›–Š‡ƒŽ‹ˆ‘”‹ƒ ‘•’‹–ƒŽ••‘…‹ƒ–‹‘ȋDz dzȌǤ  ʹͲͳʹǡ–Š‡‹•–”‹…–ƒ††‡†ƒ’’”‘š‹ƒ–‡Ž›͸Ͳ ǯ•ȋDz —ŽŽ‹‡“—‹˜ƒŽ‡–•dzȌǡ‘•–Ž›‹–Š‡’ƒ–‹‡–•‡”˜‹…‡•ƒ”‡ƒ•Ǥ

x

ProfessionalandPurchasedServices

’Ž‘›‡‡• ”‡’”‡•‡–‡† „›   ‹–‡† ‡ƒŽ–Š…ƒ”‡ ‘”‡”• Šƒ† –Š‡‹” ͶǦ›‡ƒ” …‘–”ƒ…– ‡š’‹”‡ ‹ —Ž› ʹͲͳͳǤ ‘–”ƒ…– ‡‰‘–‹ƒ–‹‘• …‘–‹—‡† –Š”‘—‰Š‘—– –Š‡ •—‡” ‹–‘ ‡ƒ”Ž› ˆƒŽŽ ™‹–Š ‘ ƒ‰”‡‡‡– „‡‹‰ ”‡ƒ…Š‡†Ǥ Š—•ǡ ‹ …–‘„‡” ʹͲͳͳǡ–Š‡ ‘•’‹–ƒŽ‹’Ž‡‡–‡†‹–•ƒ•–ǡ‡•–ǡ ‹ƒŽ‘ˆˆ‡”ƒ’’”‘˜‡†„›–Š‡‘ƒ”†ǡ™Š‹…Š‰”ƒ–‡†‘™ƒ‰‡‹…”‡ƒ•‡‹ –Š‡ˆ‹•…ƒŽ›‡ƒ”ǡ™‹–Š–Š‡‡š…‡’–‹‘‘ˆͳʹ͵‡’Ž‘›‡‡•‹ͳ͵Œ‘„…Žƒ••‹ˆ‹…ƒ–‹‘•”‡…‡‹˜‹‰‹…”‡ƒ•‡•‘ˆͶǦͳ͸Ψ‡ˆˆ‡…–‹˜‡‹ ‡…‡„‡” ʹͲͳͳ ˆ‘” ƒ”‡– ƒ†Œ—•–‡–•Ǥ  ƒ††‹–‹‘ƒŽ ʹʹ ‡’Ž‘›‡‡• ”‡…‡‹˜‡† ‹…”‡ƒ•‡• ‘ˆ ͳǤ͸ǦͷΨ ™‹–Š ‹’Ž‡‡–ƒ–‹‘‘ˆƒ…ƒ”‡‡”Žƒ††‡”ˆ‘”‡•’‹”ƒ–‘”›Š‡”ƒ’›‡’Ž‘›‡‡•‹’”‹ŽʹͲͳʹǤ–Š‡”…Šƒ‰‡•‹‹’Ž‡‡–‹‰ –Š‡ ‘•’‹–ƒŽǯ•ƒ•–ǡ‡•–ǡ ‹ƒŽ‘ˆˆ‡”™ƒ•ƒ…Šƒ‰‡–‘Š‡ƒŽ–Š…ƒ”‡„‡‡ˆ‹–•ǡ™Š‹…ŠŠƒ•‡’Ž‘›‡‡•…‘–”‹„—–‡ͳͲΨ‘ˆ–Š‡ Š‡ƒŽ–Š…ƒ”‡’”‡‹—•ˆ‘”–Š‡„ƒ•‹……‘˜‡”ƒ‰‡–Šƒ–™ƒ•’”‡˜‹‘—•Ž›…‘˜‡”‡†ƒ–ͳͲͲΨ„›–Š‡ ‘•’‹–ƒŽǤ

‘–ƒŽ’”‘ˆ‡••‹‘ƒŽˆ‡‡•ƒ†•‡”˜‹…‡•†‡…”‡ƒ•‡†„›̈́ͺ‹ŽŽ‹‘‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳʹ‘˜‡”ʹͲͳͳǤŠ‡•‹‰‹ˆ‹…ƒ–‹–‡–Šƒ– …ƒ—•‡†–Š‡†‡…”‡ƒ•‡‹–Š‡ƒ‘—–‘ˆ̈́ͳ͹‹ŽŽ‹‘™ƒ•–Šƒ–‹–Š‡’”‹‘”ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͳ–Š‡”‡™‡”‡’ƒ›‡–•ƒ†‡–‘ ƒ …‘•—Ž–‹‰ ˆ‹” –Šƒ– Šƒ† ƒ••‹•–‡† –Š‡ ‘•’‹–ƒŽ ‹ ‹’Ž‡‡–‹‰ ‹–• ……‡Ž‡”ƒ–‡† ‘–‹—‘—• š…‡ŽŽ‡…‡ ȋDzdzȌ ‹‹–‹ƒ–‹˜‡–Šƒ–•–ƒ”–‡†‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͲƒ†…‘–‹—‡†‹–‘ʹͲͳͳ™‹–Šˆ‹ƒŽ’ƒ›‡–•ƒ†‡–‘–Š‡…‘•—Ž–‹‰ˆ‹”‹ –Š‡ ˆ‹•…ƒŽ ›‡ƒ”Ǥ Š‹• ‹‹–‹ƒ–‹˜‡ ƒ†‡ •‹‰‹ˆ‹…ƒ– ƒ† ‡ƒ•—”ƒ„Ž‡ ‘’‡”ƒ–‹‘ƒŽ ‹’”‘˜‡‡–• ‹ –Š‡ ”‡˜‡—‡ …›…Ž‡ ƒ† …‘•–”‡†—…–‹‘•ǤŠ‡ ‘•’‹–ƒŽ•—„•‡“—‡–Ž›‹…‘”’‘”ƒ–‡†–Š‡•‡—Ž–‹’Ž‡‹’”‘˜‡‡–•‹–‘‹–•‘’‡”ƒ–‹‘•–‘Ž‡ƒ†–‘ •‹‰‹ˆ‹…ƒ–‹…‘‡ˆ”‘‘’‡”ƒ–‹‘•‹ˆ‹•…ƒŽ›‡ƒ”•ʹͲͳͳƒ†ƒ‰ƒ‹‹ʹͲͳʹǤ ‹‰‹ˆ‹…ƒ–‹…”‡ƒ•‡•–‘’”‘ˆ‡••‹‘ƒŽƒ†’—”…Šƒ•‡†•‡”˜‹…‡•‘……—””‡†‹–Š‡ˆ‘ŽŽ‘™‹‰ƒ”‡ƒ•ǣ

Š‡ ‘•’‹–ƒŽǯ• –ƒ–‹‘ƒ”› ‰‹‡‡”• Ȃ ‘…ƒŽ ͵ͻ ’‡” –Š‡‹” …—””‡– …‘–”ƒ…– ™‡”‡ ’”‘˜‹†‡† ƒ ͶΨ ‹…”‡ƒ•‡• ‡ˆˆ‡…–‹˜‡ ‘˜‡„‡”ͳ͵ǡʹͲͳͳǤ

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‹…”‡ƒ•‡‘ˆ̈́ʹǤ͵‹ŽŽ‹‘‘……—””‡†‹”‡’ƒ‹”ƒ†ƒ‹–‡ƒ…‡–‘–Š‡ˆƒ…‹Ž‹–‹‡•ƒ–„‘–Š–Š‡‘—–ƒ‹‹‡™ ƒ†‘• ƒ–‘•…ƒ’—•‡•Ǥ––Š‡‘—–ƒ‹‹‡™…ƒ’—•ǡ–Š‡•‡‹…Ž—†‡†–Š‡‡Šƒ˜‹‘”ƒŽ ‡ƒŽ–Š‡”˜‹…‡•‹ –Š‡‘Ž†–‘™‡”ǡ™‹†‘™–”‡ƒ–‡–•ǡƒ†ƒ††‡†™ƒŽŽ’”‘–‡…–‹‘‹–Š‡‡™ƒ‹ ‘•’‹–ƒŽ™Š‡”‡•‹‰‹ˆ‹…ƒ– ™‡ƒ” ƒ† –‡ƒ” Šƒ† ƒŽ”‡ƒ†› ‘……—””‡†Ǥ ††‹–‹‘ƒŽŽ›ǡ –Š‡”‡ ™‡”‡ ƒ‹–‡ƒ…‡ ’”‘Œ‡…–•ǡ •—…Š ƒ• ’ƒ”‹‰ ”‡•—”ˆƒ…‹‰ƒ†„—‹Ž†‹‰Œ‘‹–•‡ƒŽƒ–—’‰”ƒ†‡•ǡ™Š‹…Šƒ”‡†‘‡‡˜‡”›ˆ‘—”–‘ˆ‹˜‡›‡ƒ”•Ǥ––Š‡‘• ƒ–‘• …ƒ’—•ǡ–Š‡ ‘•’‹–ƒŽŠƒ†–‘ƒ††”‡•••‡˜‡”ƒŽ‡Ž‡‡–•‘ˆ†‡ˆ‡””‡†ƒ‹–‡ƒ…‡‘ˆ–Š‡„—‹Ž†‹‰•…ƒ—•‹‰ ƒ††‹–‹‘ƒŽ—’‰”ƒ†‡•ƒ†ƒŒ‘””‡’ƒ‹”•–‘‘……—”Ǥ

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‹…”‡ƒ•‡‘ˆ̈́ʹǤ͵‹ŽŽ‹‘‘˜‡”ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͳ™ƒ•‹–Š‡ƒ”‡ƒ••–”ƒ–‡‰‹…’Žƒ‹‰†‡˜‡Ž‘’‡–ˆ‘”–Š‡ ”‡…‡–Ž›‘ƒ”†Ǧƒ’’”‘˜‡† ‘•’‹–ƒŽ–”ƒ–‡‰‹…Žƒˆ‘”–Š‡‡š––Š”‡‡–‘ˆ‹˜‡›‡ƒ”•ǡŽ‡‰ƒŽ‡š’‡•‡ˆ‘”‰‡‡”ƒŽ …‘”’‘”ƒ–‡ ‹••—‡• ƒ† ˆ‘” —‹‘ …‘–”ƒ…– ‡‰‘–‹ƒ–‹‘•ǡ ƒ† ”‡…”—‹–‡– …‘•—Ž–‹‰ ˆ‘” –‘’ ‡š‡…—–‹˜‡ ’‘•‹–‹‘•†—”‹‰–Š‡›‡ƒ”Ǥ

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 ‹…”‡ƒ•‡ ‘ˆ ̈́ͳ ‹ŽŽ‹‘ ‘˜‡” ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹ ‘……—””‡† ƒ– –Š‡ ‘• ƒ–‘• …ƒ’—• ˆ‘” –Š‡ ‘—–•‹†‡ ’—”…Šƒ•‡†•‡”˜‹…‡•–‘‘’‡”ƒ–‡‹–•‹’ƒ–‹‡–’Š›•‹…ƒŽ”‡Šƒ„‹Ž‹–ƒ–‹‘•‡”˜‹…‡•–Šƒ–™‡”‡ˆ—ŽŽ›‘’‡”ƒ–‹‘ƒŽ‹ –Š‡…—””‡–ˆ‹•…ƒŽ›‡ƒ”Ǥ

‘•’‹–ƒŽǦ”‡’”‡•‡–‡†ǡ ‘Ǧƒƒ‰‡‡– •–ƒˆˆ ™‡”‡ ‰”ƒ–‡† ƒ ͵Ψ •ƒŽƒ”› ƒ† ™ƒ‰‡ ‹…”‡ƒ•‡ ‡ˆˆ‡…–‹˜‡ —‡ʹ͵ǡ ʹͲͳʹǤ ƒƒ‰‡‡–•–ƒˆˆŠƒ†•‹š–‡‡ȋͳ͸Ȍƒƒ‰‡”•–Šƒ–”‡…‡‹˜‡†ƒ”‡–Ǧ„ƒ•‡†•ƒŽƒ”›ƒ†Œ—•–‡–•‡ˆˆ‡…–‹˜‡—‰—•–͹ǡʹͲͳͳǤ ‡‹‘” ‡š‡…—–‹˜‡ •–ƒˆˆ ”‡…‡‹˜‡† ƒ”‡–Ǧ„ƒ•‡† ƒ†Œ—•–‡–• ‡ˆˆ‡…–‹˜‡ —‰—•– ͹ǡ ʹͲͳͳǡ –Šƒ– ƒ˜‡”ƒ‰‡† ͵ǤͶΨ ‹ –Š‡ ƒ‰‰”‡‰ƒ–‡Ǥ EmployeeBenefits ‰‰”‡‰ƒ–‡‡’Ž‘›‡‡„‡‡ˆ‹–•ǡ‹…Ž—†‹‰ƒ……”—‡†ƒ‹†‹‡ˆˆȋDzdzȌ‹…”‡ƒ•‡†„›̈́ͳ͵Ǥ͵‹ŽŽ‹‘‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳʹ ‘˜‡”ʹͲͳͳǤ ‹‰‹ˆ‹…ƒ–‹…”‡ƒ•‡•™‡”‡ƒ•ˆ‘ŽŽ‘™•ǣ x

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‡•‹‘”‡–‹”‡‡–ȋƒ•ŠƒŽƒ…‡ŽƒȌ‡š’‡•‡‹…”‡ƒ•‡†–Š‹•›‡ƒ”‘˜‡”’”‹‘”›‡ƒ”„›̈́ͶǤͷ‹ŽŽ‹‘ǡ†—‡ –‘•‡…‘†›‡ƒ”‹ƒ”‘™‘ˆŽ‘™‡”‹‰–Š‡†‹•…‘—–”ƒ–‡ȋˆ”‘ͺΨ‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͲ–‘͹Ψ‹ˆ‹•…ƒŽ›‡ƒ” ʹͲͳͳȌ –‘ ͸Ψ ˆ‘” –Š‡ …—””‡– ˆ‹•…ƒŽ ›‡ƒ”Ǥ ƒƒ‰‡‡– ƒŽ•‘ ”‡†—…‡† –Š‡ ƒ‘”–‹œƒ–‹‘ ’‡”‹‘† ‘ˆ –Š‡  ȋ‡–‡•‹‘„Ž‹‰ƒ–‹‘Ȍ–‘•‡˜‡ȋ͹Ȍ›‡ƒ”•ˆ”‘–‡ȋͳͲȌ›‡ƒ”•‹–Š‡ʹͲͳͳˆ‹•…ƒŽ›‡ƒ”ǡ™Š‹…Š™ƒ•†‘™ ˆ”‘–Š‹”–›ȋ͵ͲȌ›‡ƒ”•‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͲǤ

Supplies ‘–ƒŽ•—’’Ž‹‡•‹…”‡ƒ•‡†„›̈́ͷǤͶ‹ŽŽ‹‘‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳʹ‘˜‡”ʹͲͳͳǤ™‘ȋʹȌƒŒ‘”ƒ”‡ƒ•‘ˆ–Š‡‹…”‡ƒ•‡™‡”‡ǣ

‘”‡”• …‘’‡•ƒ–‹‘ ƒ…–—ƒ”‹ƒŽ ”‡•‡”˜‡• •–ƒ„‹Ž‹œ‡† –‘ ƒ ‘”ƒŽ ‡š’‡•‹‰ ƒ‘—– ‹ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹǡ ƒˆ–‡”ƒ…‘—’Ž‡‘ˆ›‡ƒ”•‘ˆ…”‡†‹–•–‘‡š’‡•‡‹–Š‡‘˜‡”ƒŽŽ‡‡†‡†”‡•‡”˜‡•–Šƒ–‘……—””‡†‹ˆ‹•…ƒŽ›‡ƒ”• ʹͲͳͳƒ†ʹͲͳͲǤŠ—•ǡ‰‹˜‡–Š‡•™‹‰„‡–™‡‡–Š‡•‡–™‘ȋʹȌˆ‹•…ƒŽ›‡ƒ”•ǡ–Š‹•ƒ…–—ƒ”‹ƒŽƒ‘—–‹…”‡ƒ•‡† ̈́ͶǤͳ‹ŽŽ‹‘‹ʹͲͳʹ‘˜‡”ʹͲͳͳǤ

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……”—‡†‡š’‡•‡‹…”‡ƒ•‡†„›̈́ͳǤͺ‹ŽŽ‹‘‘˜‡”ˆ‹•…ƒŽ›‡ƒ”ʹͲͳͳǤŠ‹Ž‡•‘‡‘ˆ–Š‹•‹…”‡ƒ•‡™‘—Ž† „‡ƒ––”‹„—–ƒ„Ž‡–‘™ƒ‰‡ƒ†•ƒŽƒ”›‹…”‡ƒ•‡•†—”‹‰ʹͲͳʹǡƒ•‹‰‹ˆ‹…ƒ–’‘”–‹‘™ƒ•†—‡–‘”‡–—”‹‰–‘ƒ ƒ……”—ƒŽ‡–Š‘†„ƒ•‡†‘ƒ‡’Ž‘›‡‡ǯ••–ƒ–—•ǡƒ†‘–•–”ƒ‹‰Š–’”‘†—…–‹˜‡Š‘—”•™‘”‡†ǡ–Šƒ–‡š…Ž—†‡†  „‡‹‰ –ƒ‡ ˆ‘”  ƒ† –Š‡ ‘•’‹–ƒŽ ”‡’”‡•‡–‡† ‡’Ž‘›‡‡ „ƒ•‡ǡ –Šƒ– ™ƒ• ‹ ‡ˆˆ‡…– –Š‡ Žƒ•– •‹š ‘–Š•‘ˆˆ‹•…ƒŽ›‡ƒ”ʹͲͳͳǤ

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Š‡–Š”‡•Š‘Ž†ˆ‘”…ƒ’‹–ƒŽ‹œƒ–‹‘‘ˆ‡“—‹’‡–™ƒ•…Šƒ‰‡†ˆ”‘–Š‡’”‡˜‹‘—•̈́ͳǡͲͲͲ–‘̈́ʹǡͷͲͲƒ––Š‡‡† ‘ˆ –Š‡ ›‡ƒ”Ǥ Š—•ǡ ƒƒ‰‡‡– ‡š’‡•‡† ’”‡˜‹‘—•Ž› …ƒ’‹–ƒŽ‹œ‡† ‡“—‹’‡– –Šƒ– Šƒ† ƒ …‘•– ‘ˆ Ž‡•• –Šƒ ̈́ʹǡͷͲͲ ƒ† •–‹ŽŽ Šƒ† ƒ ”‡ƒ‹‹‰ „‘‘ ˜ƒŽ—‡ǡ ™Š‹…Š …ƒ—•‡† ƒ ‘‡Ǧ–‹‡ ‡š’‡•‡ ‘ˆ ƒ’’”‘š‹ƒ–‡Ž› ̈́ʹǤͶ ‹ŽŽ‹‘Ǥ

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‹‰‹ˆ‹…ƒ–‰”‘™–Š‹–Š‡”–Š‘Ǧ’‹‡’”‘‰”ƒƒ––Š‡‘• ƒ–‘•…ƒ’—•…ƒ—•‡†ƒ̈́ʹǤͳ‹ŽŽ‹‘‹…”‡ƒ•‡‹ •—”‰‡”›•—’’Ž‹‡•ˆ‘”–Š‡’”‘‰”ƒǤ

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EL CAMINO HEALTHCARE DISTRICT MANAGEMENT’S DISCUSSION AND ANALYSIS For the Years Ended June 30, 2013, 2012 and 2011

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

DepreciationandAmortization

MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011    WellsCapitalManagement(“WCM”)

MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearsEndedJune30,2013,2012and2011   

‘† ‹˜‡•–‡–• ƒƒ‰‡† „›  ”‡ˆŽ‡…–‡† ƒ ‹…”‡ƒ•‡ ‹ –Š‡ ƒ‘—– ‘ˆ —”‡ƒŽ‹œ‡† ‰ƒ‹• †—”‹‰ –Š‡ ’‡”‹‘†ǤŠ‡…Šƒ‰‡ˆ”‘–Š‡’”‹‘”›‡ƒ”™ƒ•ƒ‡–‰ƒ‹‘ˆ̈́ͶǤͶ‹ŽŽ‹‘ǤŠ‡„‘†‹˜‡•–‡–…Šƒ‰‡”‡’”‡•‡–• ƒͷǤͺΨ‹…”‡ƒ•‡‹ƒ”‡–˜ƒŽ—‡Ǥ—”‹‰–Š‡’‡”‹‘†ǡ–Š‡”‡™‡”‡‘…‘–”‹„—–‹‘•‘”™‹–Š†”ƒ™ƒŽ•ƒ†‡–‘–Š‡ ’‘”–ˆ‘Ž‹‘Ǥ –‡”‡†‹ƒ–‡ǤǤ”‡ƒ•—”››‹‡Ž†•†‡…Ž‹‡†•‹‰‹ˆ‹…ƒ–Ž›†—”‹‰–Š‡’‡”‹‘†ˆƒŽŽ‹‰ͳͲͲ–‘ͳ͸ͷ„ƒ•‹• ’‘‹–•ƒ…”‘••–Š‡…—”˜‡ǤŠ‹•†‡…Ž‹‡‹”ƒ–‡•†”‘˜‡„‘†’”‹…‡•Š‹‰Š‡”ƒ†”‡•—Ž–‡†‹–Š‡’‘”–ˆ‘Ž‹‘Šƒ˜‹‰ƒ ‹…”‡ƒ•‡‹—”‡ƒŽ‹œ‡†…ƒ’‹–ƒŽ‰ƒ‹•Ǥ

Š‡‡š’‡•‡ˆ‘”†‡’”‡…‹ƒ–‹‘ƒ†ƒ‘”–‹œƒ–‹‘†‡…”‡ƒ•‡†„›̈́ͲǤ͵‹ŽŽ‹‘ǡ’”‹…‹’ƒŽŽ›ƒ––”‹„—–ƒ„Ž‡–‘ƒ••‡–•„‡…‘‹‰ ˆ—ŽŽ›†‡’”‡…‹ƒ–‡††—”‹‰–Š‡…—””‡–ˆ‹•…ƒŽ›‡ƒ”Ǥ Interest

–‡”‡•– ‡š’‡•‡ –Šƒ– ‹• ’”‹ƒ”‹Ž› ˆ‘” –Š‡ ʹͲͲ͹ ƒ† ʹͲͲͻ „‘† †‡„– ˆ‘” –Š‡ ‡’Žƒ…‡‡– ‘•’‹–ƒŽ ƒ– –Š‡ ‘—–ƒ‹ ‹‡™…ƒ’—•™ƒ•‡••‡–‹ƒŽŽ›—…Šƒ‰‡†Ǥ

•‘ˆ–Š‡‡†‘ˆ–Š‡ˆ‹•…ƒŽ›‡ƒ”ǡ–Š‡…‘•–‘ˆ–Š‡ ‘•’‹–ƒŽǯ•‹˜‡•–‡–•‹–Š‡ —†™‡”‡̈́͹ͺǤͺ‹ŽŽ‹‘ǡ ‹…Ž—†‹‰ ”‡‹˜‡•–‡– ‘ˆ ‹…‘‡ǡ ™‹–Š –Š‡ ƒ”‡– ˜ƒŽ—‡ ‘ˆ ̈́ͺͻǤ͵ ‹ŽŽ‹‘ǡ ™Š‹…Š ”‡’”‡•‡–• ƒ —”‡ƒŽ‹œ‡† ‰ƒ‹‘ˆͳ͵Ǥ͵Ψ‘ˆ–Š‡ƒ”‡–˜ƒŽ—‡Ǥ

RentandUtilities Š‡ ‹…”‡ƒ•‡ ‹ ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹ ‘˜‡” ʹͲͳͳ ™ƒ• ̈́ͲǤͻ ‹ŽŽ‹‘ǡ ’”‹ƒ”‹Ž› †”‹˜‡ „› –Š‡ ‘’‡‹‰ ‘ˆ –Š‡ ‡‹‘” ‡ƒŽ–Š ‡–‡”ǡ ’”‘˜‹†‹‰ …‘˜‡‹‡– ‘—–’ƒ–‹‡– •‡”˜‹…‡• ˆ‘” •‡‹‘”•ǡ ƒ– ƒ Ž‘…ƒ–‹‘ ‡ƒ” –Š‡ ‘—–ƒ‹ ‹‡™ …ƒ’—•ǡ ƒ† ‹…”‡ƒ•‡•‹‡Ž‡…–”‹……‘•–•ƒ–„‘–Š…ƒ’—•‡•Ǥ OtherExpenses Š‹•‡š’‡•‡‹…”‡ƒ•‡†„›̈́ͲǤͻ‹ŽŽ‹‘‹ˆ‹•…ƒŽ›‡ƒ”ʹͲͳʹ‘˜‡”–Š‡’”‹‘”ʹͲͳͳǤ”‘’‡”–›‹•—”ƒ…‡‡š’‡•‡‹…”‡ƒ•‡† ‹ –Š‡ …—””‡– ›‡ƒ” †—‡ –‘ ‹…”‡ƒ•‡• ‹ ”ƒ–‡• ƒ† ’”‘’‡”–› ˜ƒŽ—‡•Ǥ ’Ž‘›‡‡ ”‡Ž‘…ƒ–‹‘ ‡š’‡•‡ ‹…”‡ƒ•‡† ‹ –Š‡ …—””‡–ˆ‹•…ƒŽ›‡ƒ”ƒ•ƒˆ‡™˜ƒ…ƒ–•‡‹‘”ƒƒ‰‡‡–’‘•‹–‹‘•™‡”‡ˆ‹ŽŽ‡†ǤŠ‡‹•–”‹…–‹…”‡ƒ•‡†‹–•’ƒ”–‹…‹’ƒ–‹‘‹ …‘—‹–›•’‘•‘”•Š‹’•‘ˆŽ‘…ƒŽ‡˜‡–•Ǥ ChangeinNetUnrealizedGainsandLossesonInvestments ‘” ˆ‹•…ƒŽ ›‡ƒ” ʹͲͳʹǡ –Š‡ ‘•’‹–ƒŽ Šƒ† –™‘ ‘‡› ƒƒ‰‡”• ™‹–Š †‹ˆˆ‡”‡– ‹˜‡•–‡– ‘„Œ‡…–‹˜‡• ˆ‘” –Š‡ ‘•’‹–ƒŽǯ• •—”’Ž—• …ƒ•Š ‹˜‡•–‡–•Ǥ ‘–ƒŽ ‡– —”‡ƒŽ‹œ‡† ‰ƒ‹•ȀŽ‘••‡• ‹ •–‘…• ƒ† „‘†• ƒ”‡ ”‡’‘”–‡† ‹ –Š‡ ‹•–”‹…–ǯ• …‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•†—”‹‰–Š‹•ˆ‹•…ƒŽ›‡ƒ”Ǥ Barrow,Hanley,Mewhinney&Strauss(BHMS) –‘… ‹˜‡•–‡–• …Šƒ‰‡ –‘ ‡– —”‡ƒŽ‹œ‡† ‰ƒ‹• †—”‹‰ ˆ‹•…ƒŽ ʹͲͳʹ ”‡•—Ž–‡† ‹ ƒ ‡ƒ” ‘˜‡” ‡ƒ” ȋȌ ‡‰ƒ–‹˜‡…Šƒ‰‡‘ˆ̈́ͳǤͶ‹ŽŽ‹‘Ǥ‹‰‹ˆ‹…ƒ–‰ƒ‹•™‡”‡”‡ƒŽ‹œ‡†ˆ”‘•ƒŽ‡•†—”‹‰–Š‡ˆ‹•…ƒŽ›‡ƒ””‡•—Ž–‹‰‹ƒ Ž‘™‡”ƒ‘—–‘ˆ—”‡ƒŽ‹œ‡†‰ƒ‹•ƒ––Š‡‡†‘ˆ–Š‡ˆ‹•…ƒŽ›‡ƒ”†‡•’‹–‡–Š‡ƬͷͲͲ„‡‹‰—’͵ǤʹΨ‘ƒ’”‹…‡ „ƒ•‹•ˆ‘”–Š‡–™‡Ž˜‡‘–Š•‡†‡† —‡͵ͲǡʹͲͳʹǤ

–‡”‡†‹ƒ–‡„‘†‹˜‡•–‡–•…Šƒ‰‡–‘‡–—”‡ƒŽ‹œ‡†‰ƒ‹•†—”‹‰ˆ‹•…ƒŽʹͲͳʹ”‡•—Ž–‡†‹ƒ’‘•‹–‹˜‡ …Šƒ‰‡ ‘ˆ ̈́ͳǤͻ ‹ŽŽ‹‘Ǥ ƒ–‡• †‡…Ž‹‡† ‘˜‹‰ ’”‹…‡• ƒ† –Š‡”‡ˆ‘”‡ —”‡ƒŽ‹œ‡† ‰ƒ‹• ™‡”‡ Š‹‰Š‡”Ǥ ‘” ‡šƒ’Ž‡ǡ–Š‡”ƒ–‡‘–Š‡”‡ƒ•—”›ˆ‹˜‡›‡ƒ”‘–‡™ƒ•ͳǤ͹͸Ψƒ– —‡͵ͲǡʹͲͳͳǡ…‘’ƒ”‡†–‘ͲǤ͹ʹΨƒ– —‡͵Ͳǡ ʹͲͳʹǤ Š‘”– ƒ–—”‹–› „‘† ‹˜‡•–‡–• …Šƒ‰‡ –‘ ‡– —”‡ƒŽ‹œ‡† Ž‘••‡• †—”‹‰ ˆ‹•…ƒŽ ʹͲͳʹ ”‡•—Ž–‡† ‹ ƒ  ‡‰ƒ–‹˜‡ …Šƒ‰‡ ‘ˆ ̈́ͲǤ͹ ‹ŽŽ‹‘Ǥ Š‡ „‘† ‹˜‡•–‡– …Šƒ‰‡ ’”‹ƒ”‹Ž› ”‡’”‡•‡–• „‘†• ’—”…Šƒ•‡† ƒ– ’”‡‹—•–Šƒ–—•–†‡…Ž‹‡–‘’ƒ”˜ƒŽ—‡ƒ•–Š‡›ƒ’’”‘ƒ…Šƒ–—”‹–›Ǥ

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December 13, 2013 ■ Mountain View Voice ■ MountainViewOnline.com ■

41


REPORT OF INDEPENDENT AUDITORS

Opinion

REPORTOFINDEPENDENTAUDITORS

 ‘—” ‘’‹‹‘ǡ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–• ”‡ˆ‡””‡† –‘ ƒ„‘˜‡ ’”‡•‡– ˆƒ‹”Ž›ǡ ‹ ƒŽŽ ƒ–‡”‹ƒŽ ”‡•’‡…–•ǡ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ ’‘•‹–‹‘ ‘ˆ Žƒ‹‘ ‡ƒŽ–Š…ƒ”‡ ‹•–”‹…– ƒ• ‘ˆ —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǡƒ†–Š‡…‘•‘Ž‹†ƒ–‡†…Šƒ‰‡•‹ˆ‹ƒ…‹ƒŽ’‘•‹–‹‘ƒ†‹–•…ƒ•ŠˆŽ‘™•ˆ‘” –Š‡›‡ƒ”•–Š‡‡†‡†‹ƒ……‘”†ƒ…‡™‹–Šƒ……‘—–‹‰’”‹…‹’Ž‡•‰‡‡”ƒŽŽ›ƒ……‡’–‡†‹–Š‡‹–‡† –ƒ–‡•‘ˆ‡”‹…ƒǤ

‘–Š‡‘ƒ”†‘ˆ‹”‡…–‘”• Žƒ‹‘ ‡ƒŽ–Š…ƒ”‡‹•–”‹…– ReportontheConsolidatedFinancialStatements

OtherMatters

‡ Šƒ˜‡ ƒ—†‹–‡† –Š‡ ƒ……‘’ƒ›‹‰ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–• ‘ˆ Ž ƒ‹‘ ‡ƒŽ–Š…ƒ”‡ ‹•–”‹…–ǡ ȋ–Š‡ Dz‹•–”‹…–dzȌ ™Š‹…Š …‘’”‹•‡ –Š‡ …‘•‘Ž‹†ƒ–‡† •–ƒ–‡‡–• ‘ˆ ‡– ’‘•‹–‹‘ ƒ• ‘ˆ —‡͵Ͳǡ ʹͲͳ͵ ƒ† ʹͲͳʹǡ ƒ† –Š‡ ”‡Žƒ–‡† •–ƒ–‡‡–• ‘ˆ ”‡˜‡—‡•ǡ ‡š’‡•‡•ǡ ƒ†…Šƒ‰‡• ‹ ‡– ’‘•‹–‹‘ǡ ƒ† …ƒ•Š ˆŽ‘™• ˆ‘” –Š‡ ›‡ƒ”• –Š‡ ‡†‡†ǡ ƒ† –Š‡ ”‡Žƒ–‡† ‘–‡• –‘ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•Ǥ

RequiredSupplementaryInformation

Management’sResponsibilityfortheConsolidatedFinancialStatements ƒƒ‰‡‡– ‹• ”‡•’‘•‹„Ž‡ ˆ‘” –Š‡ ’”‡’ƒ”ƒ–‹‘ ƒ† ˆƒ‹” ’”‡•‡–ƒ–‹‘ ‘ˆ –Š‡•‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•‹ƒ……‘”†ƒ…‡™‹–Šƒ……‘—–‹‰’”‹…‹’Ž‡•‰‡‡”ƒŽŽ›ƒ……‡’–‡†‹–Š‡‹–‡† –ƒ–‡•‘ˆ‡”‹…ƒǢ–Š‹•‹…Ž—†‡•–Š‡†‡•‹‰ǡ‹’Ž‡‡–ƒ–‹‘ǡƒ†ƒ‹–‡ƒ…‡‘ˆ‹–‡”ƒŽ…‘–”‘Ž ”‡Ž‡˜ƒ– –‘ –Š‡ ’”‡’ƒ”ƒ–‹‘ ƒ† ˆƒ‹” ’”‡•‡–ƒ–‹‘ ‘ˆ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–• –Šƒ– ƒ”‡ ˆ”‡‡ˆ”‘ƒ–‡”‹ƒŽ‹••–ƒ–‡‡–ǡ™Š‡–Š‡”†—‡–‘ˆ”ƒ—†‘”‡””‘”Ǥ Auditor’sResponsibility —””‡•’‘•‹„‹Ž‹–›‹•–‘‡š’”‡••ƒ‘’‹‹‘‘–Š‡•‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•„ƒ•‡†‘ ‘—”ƒ—†‹–•Ǥ‡…‘†—…–‡†‘—”ƒ—†‹–•‹ƒ……‘”†ƒ…‡™‹–Šƒ—†‹–‹‰•–ƒ†ƒ”†•‰‡‡”ƒŽŽ›ƒ……‡’–‡†‹ –Š‡ ‹–‡† –ƒ–‡• ‘ˆ ‡”‹…ƒǤ Š‘•‡ •–ƒ†ƒ”†• ”‡“—‹”‡ –Šƒ– ™‡ ’Žƒ ƒ† ’‡”ˆ‘” –Š‡ ƒ—†‹–• –‘ ‘„–ƒ‹”‡ƒ•‘ƒ„Ž‡ƒ••—”ƒ…‡ƒ„‘—–™Š‡–Š‡”–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ƒ”‡ˆ”‡‡ˆ”‘ ƒ–‡”‹ƒŽ‹••–ƒ–‡‡–Ǥ  ƒ—†‹– ‹˜‘Ž˜‡• ’‡”ˆ‘”‹‰ ’”‘…‡†—”‡• –‘ ‘„–ƒ‹ ƒ—†‹– ‡˜‹†‡…‡ ƒ„‘—– –Š‡ ƒ‘—–• ƒ† †‹•…Ž‘•—”‡• ‹ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•Ǥ Š‡ ’”‘…‡†—”‡• •‡Ž‡…–‡† †‡’‡† ‘ –Š‡ ƒ—†‹–‘”ǯ• Œ—†‰‡–ǡ ‹…Ž—†‹‰ –Š‡ ƒ••‡••‡– ‘ˆ –Š‡ ”‹•• ‘ˆ ƒ–‡”‹ƒŽ ‹••–ƒ–‡‡– ‘ˆ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•ǡ ™Š‡–Š‡” †—‡ –‘ ˆ”ƒ—† ‘” ‡””‘”Ǥ  ƒ‹‰ –Š‘•‡ ”‹• ƒ••‡••‡–•ǡ–Š‡ƒ—†‹–‘”…‘•‹†‡”•‹–‡”ƒŽ…‘–”‘Ž”‡Ž‡˜ƒ––‘–Š‡‡–‹–›ǯ•’”‡’ƒ”ƒ–‹‘ƒ†ˆƒ‹” ’”‡•‡–ƒ–‹‘ ‘ˆ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–• ‹ ‘”†‡” –‘ †‡•‹‰ ƒ—†‹– ’”‘…‡†—”‡• –Šƒ– ƒ”‡ ƒ’’”‘’”‹ƒ–‡ ‹ –Š‡ …‹”…—•–ƒ…‡•ǡ „—– ‘– ˆ‘” –Š‡ ’—”’‘•‡ ‘ˆ ‡š’”‡••‹‰ ƒ ‘’‹‹‘ ‘ –Š‡ ‡ˆˆ‡…–‹˜‡‡••‘ˆ–Š‡‡–‹–›ǯ•‹–‡”ƒŽ…‘–”‘ŽǤ……‘”†‹‰Ž›ǡ™‡‡š’”‡••‘•—…Š‘’‹‹‘Ǥƒ—†‹– ƒŽ•‘‹…Ž—†‡•‡˜ƒŽ—ƒ–‹‰–Š‡ƒ’’”‘’”‹ƒ–‡‡••‘ˆƒ……‘—–‹‰’‘Ž‹…‹‡•—•‡†ƒ†–Š‡”‡ƒ•‘ƒ„Ž‡‡•• ‘ˆ •‹‰‹ˆ‹…ƒ– ƒ……‘—–‹‰ ‡•–‹ƒ–‡• ƒ†‡ „› ƒƒ‰‡‡–ǡ ƒ• ™‡ŽŽ ƒ• ‡˜ƒŽ—ƒ–‹‰ –Š‡ ‘˜‡”ƒŽŽ ’”‡•‡–ƒ–‹‘‘ˆ–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•Ǥ

Š‡ ƒ……‘’ƒ›‹‰ ƒƒ‰‡‡–ǯ• ‹•…—••‹‘ ƒ† ƒŽ›•‹• ‘ ’ƒ‰‡• ͳ –Š”‘—‰Š ͳ͵ǡ ƒ† –Š‡ ƒ……‘’ƒ›‹‰•—’’Ž‡‡–ƒŽ’‡•‹‘ƒ†’‘•–”‡–‹”‡‡–„‡‡ˆ‹–‹ˆ‘”ƒ–‹‘‘’ƒ‰‡ͶͶǡƒ”‡‘– ”‡“—‹”‡† ’ƒ”–• ‘ˆ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–• „—– ƒ”‡ •—’’Ž‡‡–ƒ”› ‹ˆ‘”ƒ–‹‘ ”‡“—‹”‡† „› –Š‡ ‘˜‡”‡–ƒŽ ……‘—–‹‰ –ƒ†ƒ”†• ‘ƒ”† ™Š‘ …‘•‹†‡”• –Š‡ –‘ „‡ ƒ ‡••‡–‹ƒŽ ’ƒ”– ‘ˆ ˆ‹ƒ…‹ƒŽ ”‡’‘”–‹‰ ˆ‘” ’Žƒ…‹‰ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–• ‹ ƒ ƒ’’”‘’”‹ƒ–‡‘’‡”ƒ–‹‘ƒŽ‡…‘‘‹…ǡ‘”Š‹•–‘”‹…ƒŽ…‘–‡š–ǤŠ‹••—’’Ž‡‡–ƒ”›‹ˆ‘”ƒ–‹‘‹•–Š‡ ”‡•’‘•‹„‹Ž‹–› ‘ˆ Ž ƒ‹‘ ‡ƒŽ–Š…ƒ”‡ ‹•–”‹…–ǯ• ƒƒ‰‡‡–Ǥ ‡ Šƒ˜‡ ƒ’’Ž‹‡† …‡”–ƒ‹ Ž‹‹–‡† ’”‘…‡†—”‡• ‹ ƒ……‘”†ƒ…‡ ™‹–Š ƒ—†‹–‹‰ •–ƒ†ƒ”†• ‰‡‡”ƒŽŽ› ƒ……‡’–‡† ‹ –Š‡ ‹–‡† –ƒ–‡• ‘ˆ ‡”‹…ƒǡ ™Š‹…Š …‘•‹•–‡† ‘ˆ ‹“—‹”‹‡• ‘ˆ ƒƒ‰‡‡– ”‡‰ƒ”†‹‰ –Š‡ ‡–Š‘†• ‘ˆ ’”‡’ƒ”‹‰ –Š‡ ‹ˆ‘”ƒ–‹‘ƒ†…‘’ƒ”‹‰–Š‡‹ˆ‘”ƒ–‹‘ˆ‘”…‘•‹•–‡…›™‹–Šƒƒ‰‡‡–ǯ•”‡•’‘•‡•–‘‘—” ‹“—‹”‹‡•ǡ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•ǡ ƒ† ‘–Š‡” ‘™Ž‡†‰‡ ™‡ ‘„–ƒ‹‡† †—”‹‰ ‘—” ƒ—†‹– ‘ˆ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•Ǥ ‡ †‘ ‘– ‡š’”‡•• ƒ ‘’‹‹‘ ‘” ’”‘˜‹†‡ ƒ› ƒ••—”ƒ…‡‘–Š‡‹ˆ‘”ƒ–‹‘„‡…ƒ—•‡–Š‡Ž‹‹–‡†’”‘…‡†—”‡•†‘‘–’”‘˜‹†‡—•™‹–Š•—ˆˆ‹…‹‡– ‡˜‹†‡…‡–‘‡š’”‡••ƒ‘’‹‹‘‘”’”‘˜‹†‡ƒ›ƒ••—”ƒ…‡Ǥ OtherInformation —”ƒ—†‹–•™‡”‡…‘†—…–‡†ˆ‘”–Š‡’—”’‘•‡‘ˆˆ‘”‹‰ƒ‘’‹‹‘‘–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•–Šƒ–…‘ŽŽ‡…–‹˜‡Ž›…‘’”‹•‡–Š‡Žƒ‹‘ ‡ƒŽ–Š…ƒ”‡‹•–”‹…–̵•…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•Ǥ Š‡ ƒ……‘’ƒ›‹‰ …‘•‘Ž‹†ƒ–‹‰ •–ƒ–‡‡– ‘ˆ ‡– ’‘•‹–‹‘ ƒ† …‘•‘Ž‹†ƒ–‹‰ •–ƒ–‡‡–‘ˆ”‡˜‡—‡•ǡ‡š’‡•‡•ǡƒ†…Šƒ‰‡•‹‡–’‘•‹–‹‘ǡ‘’ƒ‰‡•Ͷͳ–‘Ͷ͵ǡƒ”‡’”‡•‡–‡† ˆ‘” ’—”’‘•‡• ‘ˆ ƒ††‹–‹‘ƒŽ ƒƒŽ›•‹• ƒ† ƒ”‡ ‘– ƒ ”‡“—‹”‡† ’ƒ”– ‘ˆ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•Ǥ —…Š ‹ˆ‘”ƒ–‹‘ ‹• –Š‡ ”‡•’‘•‹„‹Ž‹–› ‘ˆ Ž ƒ‹‘ ‡ƒŽ–Š…ƒ”‡ ‹•–”‹…–̵• ƒƒ‰‡‡–ƒ†™ƒ•†‡”‹˜‡†ˆ”‘ƒ†”‡Žƒ–‡•†‹”‡…–Ž›–‘–Š‡—†‡”Ž›‹‰ƒ……‘—–‹‰ƒ†‘–Š‡” ”‡…‘”†• —•‡† –‘ ’”‡’ƒ”‡ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•Ǥ Š‡ ‹ˆ‘”ƒ–‹‘ Šƒ• „‡‡ •—„Œ‡…–‡†–‘–Š‡ƒ—†‹–‹‰’”‘…‡†—”‡•ƒ’’Ž‹‡†‹–Š‡ƒ—†‹–‘ˆ–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–• ƒ† …‡”–ƒ‹ ƒ††‹–‹‘ƒŽ ’”‘…‡†—”‡•ǡ ‹…Ž—†‹‰ …‘’ƒ”‹‰ ƒ† ”‡…‘…‹Ž‹‰ •—…Š ‹ˆ‘”ƒ–‹‘ †‹”‡…–Ž› –‘ –Š‡ —†‡”Ž›‹‰ ƒ……‘—–‹‰ ƒ† ‘–Š‡” ”‡…‘”†• —•‡† –‘ ’”‡’ƒ”‡ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•‘”–‘–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•–Š‡•‡Ž˜‡•ǡƒ†‘–Š‡”ƒ††‹–‹‘ƒŽ ’”‘…‡†—”‡• ‹ ƒ……‘”†ƒ…‡ ™‹–Š ƒ—†‹–‹‰ •–ƒ†ƒ”†• ‰‡‡”ƒŽŽ› ƒ……‡’–‡† ‹ –Š‡ ‹–‡† –ƒ–‡• ‘ˆ ‡”‹…ƒǤ ‘—”‘’‹‹‘ǡ–Š‡‹ˆ‘”ƒ–‹‘‹•ˆƒ‹”Ž›•–ƒ–‡†‹ƒŽŽƒ–‡”‹ƒŽ”‡•’‡…–•‹”‡Žƒ–‹‘–‘–Š‡ …‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ƒ•ƒ™Š‘Ž‡Ǥ

‡„‡Ž‹‡˜‡–Šƒ––Š‡ƒ—†‹–‡˜‹†‡…‡‘„–ƒ‹‡†‹••—ˆˆ‹…‹‡–ƒ†ƒ’’”‘’”‹ƒ–‡–‘’”‘˜‹†‡ƒ„ƒ•‹•ˆ‘” ‘—”ƒ—†‹–‘’‹‹‘Ǥ

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■ Mountain View Voice ■ MountainViewOnline.com ■ December 13, 2013


REPORT OF INDEPENDENT AUDITORS | CONSOLIDATED FINANCIAL STATEMENTS

—”ƒ—†‹–•™‡”‡…‘†—…–‡†ˆ‘”–Š‡’—”’‘•‡‘ˆˆ‘”‹‰ƒ‘’‹‹‘‘–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•–Šƒ–…‘ŽŽ‡…–‹˜‡Ž›…‘’”‹•‡–Š‡Žƒ‹‘ ‡ƒŽ–Š…ƒ”‡‹•–”‹…–ǯ•…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•Ǥ Š‡ ƒ……‘’ƒ›‹‰ •—’’Ž‡‡–ƒŽ •…Š‡†—Ž‡ ‘ˆ …‘—‹–› „‡‡ˆ‹– ‘ ’ƒ‰‡ Ͷͷ ‹• ’”‡•‡–‡† ˆ‘” ’—”’‘•‡• ‘ˆ ƒ††‹–‹‘ƒŽ ƒƒŽ›•‹• ƒ† ‹• ‘– ƒ ”‡“—‹”‡† ’ƒ”– ‘ˆ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•Ǥ Š‹• •—’’Ž‡‡–ƒ”› ‹ˆ‘”ƒ–‹‘ ‹• –Š‡ ”‡•’‘•‹„‹Ž‹–› ‘ˆ Ž ƒ‹‘ ‡ƒŽ–Š…ƒ”‡ ‹•–”‹…–ǯ• ƒƒ‰‡‡–Ǥ —…Š ‹ˆ‘”ƒ–‹‘ Šƒ• ‘– „‡‡ •—„Œ‡…–‡† –‘ –Š‡ ƒ—†‹–‹‰ ’”‘…‡†—”‡•ƒ’’Ž‹‡†‹–Š‡ƒ—†‹–‘ˆ–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ǡƒ†ƒ……‘”†‹‰Ž›ǡ™‡†‘ ‘–‡š’”‡••ƒ‘’‹‹‘‘”’”‘˜‹†‡ƒ›ƒ••—”ƒ…‡‘‹–Ǥ     ƒ ”ƒ…‹•…‘ǡƒŽ‹ˆ‘”‹ƒ …–‘„‡”͵ͲǡʹͲͳ͵

CONSOLIDATEDFINANCIALSTATEMENTS ̴̴̴̴̴̴̴̴̴̴

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CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

CONSOLIDATEDSTATEMENTSOFNETPOSITION June30,2013and2012 (InThousands)  

2013

CONSOLIDATEDSTATEMENTSOFREVENUES,EXPENSES,ANDCHANGESINNETPOSITION YearsEndedJune30,2013and2012 (InThousands)  

2012

ASSETS —””‡–ƒ••‡–• ƒ•Šƒ†…ƒ•Š‡“—‹˜ƒŽ‡–• Š‘”–Ǧ–‡”‹˜‡•–‡–• —””‡–’‘”–‹‘‘ˆ„‘ƒ”††‡•‹‰ƒ–‡†ǡ”‡•–”‹…–‡†ˆ—†•ƒ†–”—•–‡‡†ƒ••‡–• ƒ–‹‡–ƒ……‘—–•”‡…‡‹˜ƒ„Ž‡ǡ‡–‘ˆƒŽŽ‘™ƒ…‡•ˆ‘”†‘—„–ˆ—Ž ƒ……‘—–•‘ˆ̈́ͻǡ͵ͳ͵ƒ†̈́ͻǡͶ͹͵‹ʹͲͳ͵ƒ†ʹͲͳʹǡ”‡•’‡…–‹˜‡Ž› ”‡’ƒ‹†‡š’‡•‡•ƒ†‘–Š‡”…—””‡–ƒ••‡–• ‘–‡•”‡…‡‹˜ƒ„Ž‡ǡ…—””‡–

̈́ͷͳǡʹͷͻ ʹͲͷǡͷͺʹ ͳͶǡͳ͵͸

̈́Ͷʹǡ͵͵Ͷ ʹʹͳǡͶʹͺ ͻǡ͸ͷ͵

ͺͺǡ͵͸ʹ ʹͲǡͳͲͳ ͹͵

 ͺ͹ǡͷʹͺ  ͳͺǡ͹ͺ͹  ͳͲͺ

‘–ƒŽ…—””‡–ƒ••‡–•

͵͹ͻǡͷͳ͵

͵͹ͻǡͺ͵ͺ

‘Ǧ…—””‡–…ƒ•Šƒ†‹˜‡•–‡–• ‘ƒ”†Ǧ†‡•‹‰ƒ–‡†ˆ—†• ‡•–”‹…–‡†ˆ—†• —†•Š‡Ž†„›–”—•–‡‡

͵Ͷ͵ǡͷ͹Ͷ ͷͺ ͳͶǡͺ͸͸

ʹ͵͸ǡ͹Ͳ͹ ͷ͸  ͳ͵ǡͶͻͷ

͵ͷͺǡͶͻͺ

ʹͷͲǡʹͷͺ

͸Ͷ͹ǡͲ͵͸ ͳǡ͸ͷͳ ͵ʹǡͺ͸ͺ ʹʹǡͻͻͻ ͸ǡͲͷͷ

͸͹Ͳǡ͹ͳͳ ʹǡ͹Ͷ͹  ʹ͹ǡͷʹ͹  ͳͺǡ͸͸Ͳ ͸ǡʹͻ͸

̈́ͳǡͶͶͺǡ͸ʹͲ

̈́ͳǡ͵ͷ͸ǡͲ͵͹

̈́Ͷǡͻ͸ͳ ͳ͹ǡͶͲ͵ ͵ͺǡͶ͵ͻ ͳͳǡͳͲ͹ ʹͳǡͳͳ͹ Ͷǡͷͻʹ

̈́ ͷǡͳͲͲ  ͳͻǡͶͶʹ  ͵ͻǡͶͺͶ  ͳ͵ǡ͸Ͳͻ  ͳͺǡͶ͸͹ ͶǡͳͷͲ

ͻ͹ǡ͸ͳͻ

ͳͲͲǡʹͷʹ

Ǧ ͵ʹͳǡͻͺ͸ ͳͲǡͲͲͷ ʹ͵ǡͶͲͻ ͳͷǡͷͶͳ

Ͷǡͻͷʹ ͵ʹ͸ǡͷ͹ͺ  ͳ͵ǡͻͷ͵  ͳͺǡͲ͵ͳ  ͳͶǡͺ͵ʹ

Ͷ͸ͺǡͷ͸Ͳ

Ͷ͹ͺǡͷͻͺ

͵͵ͷǡͳͳͶ ͷǡʹͻ͹ ͳǡ͹ͺͷ ͸͵͹ǡͺ͸Ͷ

͵Ͷ͵ǡ͸ͻͶ ͶǡͺʹͲ ʹǡͲͷ͹ ͷʹ͸ǡͺ͸ͺ

ͻͺͲǡͲ͸Ͳ

ͺ͹͹ǡͶ͵ͻ

̈́ͳǡͶͶͺǡ͸ʹͲ

̈́ͳǡ͵ͷ͸ǡͲ͵͹

ƒ’‹–ƒŽƒ••‡–•ǡ‡– Ž‡†‰‡•”‡…‡‹˜ƒ„Ž‡ǡ‡– ”‡’ƒ‹†’‡•‹‘ƒ••‡–

˜‡•–‡–•‹Š‡ƒŽ–Š…ƒ”‡ƒˆˆ‹Ž‹ƒ–‡• –Š‡”ƒ••‡–• ‘–ƒŽƒ••‡–•

OPERATINGREVENUES ‡–’ƒ–‹‡–•‡”˜‹…‡”‡˜‡—‡ȋ‡–‘ˆ’”‘˜‹•‹‘ˆ‘” „ƒ††‡„–•‘ˆ̈́ͳͶǡ͸ʹ͵ƒ†̈́ͳͶǡ͹Ͷ͹‹ʹͲͳ͵ƒ†ʹͲͳʹǡ”‡•’‡…–‹˜‡Ž›Ȍ –Š‡””‡˜‡—‡

‘–ƒŽ…—””‡–Ž‹ƒ„‹Ž‹–‹‡• ƒ’‹–ƒŽŽ‡ƒ•‡‘„Ž‹‰ƒ–‹‘•ǡ‡–‘ˆ…—””‡–’‘”–‹‘ ‘†•’ƒ›ƒ„Ž‡ǡ‡–‘ˆ…—””‡–’‘”–‹‘ –Š‡”Ž‘‰Ǧ–‡”‘„Ž‹‰ƒ–‹‘• ‘”‡”•̵…‘’‡•ƒ–‹‘ǡ‡–‘ˆ…—””‡–’‘”–‹‘ ‘•–”‡–‹”‡‡–‡†‹…ƒŽ„‡‡ˆ‹–•ǡ‡–‘ˆ…—””‡–’‘”–‹‘ ‘–ƒŽŽ‹ƒ„‹Ž‹–‹‡• ‡–’‘•‹–‹‘

˜‡•–‡†‹…ƒ’‹–ƒŽƒ••‡–•ǡ‡–‘ˆ”‡Žƒ–‡††‡„– ‡•–”‹…–‡†Ǧ‡š’‡†ƒ„Ž‡ ‡•–”‹…–‡†Ǧ‘‡š’‡†ƒ„Ž‡ ”‡•–”‹…–‡† ‘–ƒŽ‡–’‘•‹–‹‘ ‘–ƒŽŽ‹ƒ„‹Ž‹–‹‡•ƒ†‡–’‘•‹–‹‘

2012

̈́ ͸ͻͳǡͷͶͷ

̈́ ͸͵͸ǡͺʹͲ

ʹͳǡͷ͸ͷ

 ʹͳǡͷͻͳ

͹ͳ͵ǡͳͳͲ

͸ͷͺǡͶͳͳ

͵͹͵ǡͶͺͲ ͻͲǡ͸Ͷͻ ͳͲ͵ǡ͸Ͳ͵ Ͷͺǡ͵ͷ͹ ͳ͵ǡͻ͵͹ ͳͺǡ͵ʹͺ

͵͵ͲǡͶ͹ʹ  ͻ͵ǡ͵ʹͶ  ͻͶǡͳͻ͸  Ͷͻǡͷͻ͵  ͳ͵ǡͻʹͷ  ͳ͹ǡʹͶͶ

‘–ƒŽ‘’‡”ƒ–‹‰‡š’‡•‡•

͸Ͷͺǡ͵ͷͶ

ͷͻͺǡ͹ͷͶ

…‘‡ˆ”‘‘’‡”ƒ–‹‘•

͸Ͷǡ͹ͷ͸

 ͷͻǡ͸ͷ͹

‘–ƒŽ‘’‡”ƒ–‹‰”‡˜‡—‡• OPERATINGEXPENSES ƒŽƒ”‹‡•ǡ™ƒ‰‡•ǡƒ†„‡‡ˆ‹–• ”‘ˆ‡••‹‘ƒŽˆ‡‡•ƒ†’—”…Šƒ•‡†•‡”˜‹…‡• —’’Ž‹‡• ‡’”‡…‹ƒ–‹‘ƒ†ƒ‘”–‹œƒ–‹‘ ‡–ƒ†—–‹Ž‹–‹‡• –Š‡”

NONOPERATINGREVENUES(EXPENSES)

˜‡•–‡–‹…‘‡ǡ‡– ”‘’‡”–›–ƒš”‡˜‡—‡ ‡•‹‰ƒ–‡†–‘•—’’‘”–…‘—‹–›„‡‡ˆ‹–’”‘‰”ƒ•ƒ†‘’‡”ƒ–‹‰‡š’‡•‡• ‡•‹‰ƒ–‡†–‘•—’’‘”–…ƒ’‹–ƒŽ‡š’‡†‹–—”‡• ‡˜‹‡†ˆ‘”†‡„–•‡”˜‹…‡

‡‡”ƒŽ„Ž‹‰ƒ–‹‘„‘†‹–‡”‡•–‡š’‡•‡

–‡”‰‘˜‡”‡–ƒŽ–”ƒ•ˆ‡”‡š’‡•‡ ‡•–”‹…–‡†‰‹ˆ–•ǡ‰”ƒ–•ƒ†„‡“—‡•–•ǡƒ†‘–Š‡” ”‡ƒŽ‹œ‡†‰ƒ‹ȋŽ‘••Ȍ‘‹–‡”‡•–”ƒ–‡•™ƒ’• –Š‡”ǡ‡–

LIABILITIESANDNETPOSITION —””‡–Ž‹ƒ„‹Ž‹–‹‡• —””‡–’‘”–‹‘…ƒ’‹–ƒŽŽ‡ƒ•‡‘„Ž‹‰ƒ–‹‘• ……‘—–•’ƒ›ƒ„Ž‡ƒ†ƒ……”—‡†‡š’‡•‡• ƒŽƒ”‹‡•ǡ™ƒ‰‡•ǡƒ†”‡Žƒ–‡†Ž‹ƒ„‹Ž‹–‹‡• –Š‡”…—””‡–Ž‹ƒ„‹Ž‹–‹‡• •–‹ƒ–‡†–Š‹”†Ǧ’ƒ”–›’ƒ›‘”•‡––Ž‡‡–• —””‡–’‘”–‹‘‘ˆ„‘†•’ƒ›ƒ„Ž‡

2013

ʹ͸ǡͻͶ͵

 ͳͺǡ͵Ͷ͸

͸ǡͷͳͶ ͶǡͶͺ͵ ͹ǡʹ͸͹ ȋͶǡ͹ͺ͹Ȍ Ǧ ͶǡͶ͵ʹ ͶǡͲ͸ͳ  ȋͳͳǡͲͶͺȌ

ͷǡͻͲʹ ͵ǡ͸ͳͲ ͸ǡͻͲͺ  ȋͶǡͺʹͺȌ  ȋ͵ǡ͵ͶͻȌ ͵ǡͶ͵ʹ  ȋͷǡ͹ͺͳȌ  ȋͳͳǡͺͲͻȌ

‘–ƒŽ‘‘’‡”ƒ–‹‰”‡˜‡—‡•ȋ‡š’‡•‡•Ȍ

͵͹ǡͺ͸ͷ

 ͳʹǡͶ͵ͳ

…”‡ƒ•‡‹‡–’‘•‹–‹‘

ͳͲʹǡ͸ʹͳ

 ͹ʹǡͲͺͺ

TOTALNETPOSITIONǡ„‡‰‹‹‰‘ˆ›‡ƒ”

ͺ͹͹ǡͶ͵ͻ

ͺͲͷǡ͵ͷͳ

TOTALNETPOSITIONǡ‡†‘ˆ›‡ƒ”

̈́ ͻͺͲǡͲ͸Ͳ

̈́ ͺ͹͹ǡͶ͵ͻ



 Seeaccompanyingnotes.

Seeaccompanyingnotes.

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■ Mountain View Voice ■ MountainViewOnline.com ■ December 13, 2013

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Page 12 of 28


CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT CONSOLIDATEDSTATEMENTSOFCASHFLOWS YearsEndedJune30,2013and2012 (InThousands)  

ELCAMINOHEALTHCAREDISTRICT

2013

2012

̈́ ͸ͻ͵ǡ͵͸ͳ  ʹͳǡͷ͸ͷ  ȋ͵͸ͺǡͶ͵ͺȌ ȋʹͶͳǡ͸ͻͺȌ

̈́ ͸͵ͷǡͶͶͻ  ʹͳǡͷͻͳ ȋ͵ʹͺǡͳͲͲȌ ȋʹʹͲǡͺ͹ʹȌ

‡–…ƒ•Šˆ”‘‘’‡”ƒ–‹‰ƒ…–‹˜‹–‹‡•

ͳͲͶǡ͹ͻͲ

ͳͲͺǡͲ͸ͺ

CASHFLOWSFROMNONCAPITALFINANCINGACTIVITIES ”‘’‡”–›–ƒš‡• ‡•–”‹…–‡†…‘–”‹„—–‹‘•ƒ†‹˜‡•–‡–‹…‘‡ ”ƒ•ˆ‡”•ˆ”‘”‡•–”‹…–‡†ˆ—†•ƒ†‘–Š‡”

 ͳͲǡͻͻ͹ ͷǡͷʹͺ ȋʹȌ

ͻǡͷͳʹ ͶǡͶͶͳ ȋʹȌ

‡–…ƒ•Šˆ”‘‘…ƒ’‹–ƒŽˆ‹ƒ…‹‰ƒ…–‹˜‹–‹‡•

 ͳ͸ǡͷʹ͵

 ͳ͵ǡͻͷͳ

CASHFLOWSFROMCAPITALANDRELATEDFINANCINGACTIVITIES —”…Šƒ•‡•‘ˆ’”‘’‡”–›ǡ’Žƒ–ǡƒ†‡“—‹’‡– ƒ›‡–•‘…ƒ’‹–ƒŽŽ‡ƒ•‡•‘„Ž‹‰ƒ–‹‘• ƒ›‡–•‘„‘†•’ƒ›ƒ„Ž‡

–‡”‡•–’ƒ‹†‘ ‡‡”ƒŽ„Ž‹‰ƒ–‹‘„‘††‡„– ƒš”‡˜‡—‡”‡Žƒ–‡†–‘‰‡‡”ƒŽ‘„Ž‹‰ƒ–‹‘„‘†•

 ȋʹͶǡ͸ͺʹȌ  ȋͷǡͲͻͳȌ  ȋͶǡͳͷͲȌ  ȋͶǡ͹ͺ͹Ȍ ͹ǡʹ͸͹

 ȋʹͻǡͳʹ͸Ȍ  ȋͷǡͺͲͳȌ  ȋͶǡ͸ͳͲȌ  ȋͶǡͺʹͺȌ ͸ǡͻͲͺ

 ȋ͵ͳǡͶͶ͵Ȍ

 ȋ͵͹ǡͶͷ͹Ȍ

 ȋͳǡ͵͵ͻǡͶͶ͹Ȍ  ͳǡʹͶ͵ǡͻͶ͵  ͳͷǡͺͻͷ ͵ͷ  ȋͳǡ͵͹ͳȌ

ȋͶͷͺǡ͹Ͷ͵Ȍ ͵͸͸ǡͶͻͲ ͸ǡͷ͵͹ ͳǡͻͲͷ  ȋͶͲͷȌ

‡–…ƒ•Š—•‡†ˆ‘”‹˜‡•–‹‰ƒ…–‹˜‹–‹‡•

 ȋͺͲǡͻͶͷȌ

 ȋͺͶǡʹͳ͸Ȍ

‡–‹…”‡ƒ•‡‹…ƒ•Šƒ†…ƒ•Š‡“—‹˜ƒŽ‡–•

ͺǡͻʹͷ

 ͵Ͷ͸

CASHFLOWSFROMOPERATINGACTIVITIES ƒ•Š”‡…‡‹˜‡†ˆ”‘ƒ†‘„‡ŠƒŽˆ‘ˆ’ƒ–‹‡–• –Š‡”…ƒ•Š”‡…‡‹’–• ƒ•Š’ƒ›‡–•–‘‡’Ž‘›‡‡• ƒ•Š’ƒ›‡–•–‘•—’’Ž‹‡”•

‡–…ƒ•Š—•‡†ˆ‘”…ƒ’‹–ƒŽƒ†”‡Žƒ–‡†ˆ‹ƒ…‹‰ƒ…–‹˜‹–‹‡• CASHFLOWSFROMINVESTINGACTIVITIES —”…Šƒ•‡•‘ˆ‹˜‡•–‡–• ƒŽ‡•‘ˆ‹˜‡•–‡–•

˜‡•–‡–‹…‘‡ ‡…”‡ƒ•‡‹‘–‡•”‡…‡‹˜ƒ„Ž‡ Šƒ‰‡‹ˆ—†•Š‡Ž†„›–”—•–‡‡ǡ‡–

CASHANDCASHEQUIVALENTSƒ–„‡‰‹‹‰‘ˆ›‡ƒ”

 Ͷʹǡ͵͵Ͷ

 Ͷͳǡͻͺͺ

CASHANDCASHEQUIVALENTSƒ–‡†‘ˆ›‡ƒ”

̈́ͷͳǡʹͷͻ

̈́Ͷʹǡ͵͵Ͷ

̈́ ͸Ͷǡ͹ͷ͸

̈́ͷͻǡ͸ͷ͹

 Ͷͺǡ͵ͷ͹  ͳͶǡ͸ʹ͵

 Ͷͻǡͷͻ͵  ͳͶǡ͹Ͷ͹

 ȋͳʹǡͺͲ͹Ȍ  ȋͳͲǡ͹ͷ͵Ȍ

 ȋͳ͸ǡͳͳͺȌ  ȋͶǡͳ͵ͺȌ

 ȋͷǡͷͺ͸Ȍ ͷǡͶͻͳ ͹Ͳͻ

ͳǡͶ͸͵ ʹǡͷ͸͹  ʹͻ͹

̈́ ͳͲͶǡ͹ͻͲ

̈́ ͳͲͺǡͲ͸ͺ

RECONCILIATIONOFINCOMEFROMOPERATIONSTONETCASHFROM OPERATINGACTIVITIES

…‘‡ˆ”‘‘’‡”ƒ–‹‘• †Œ—•–‡–•–‘”‡…‘…‹Ž‡‘’‡”ƒ–‹‰‹…‘‡–‘‡–…ƒ•Š ˆ”‘‘’‡”ƒ–‹‰ƒ…–‹˜‹–‹‡• ‡’”‡…‹ƒ–‹‘ƒ†ƒ‘”–‹œƒ–‹‘ ”‘˜‹•‹‘��‘”„ƒ††‡„–• Šƒ‰‡•‹ƒ••‡–•ƒ†Ž‹ƒ„‹Ž‹–‹‡• ƒ–‹‡–ƒ……‘—–•”‡…‡‹˜ƒ„Ž‡ǡ‡– ”‡’ƒ‹†‡š’‡•‡•ƒ†‘–Š‡”…—””‡–ƒ••‡–• —””‡–Ž‹ƒ„‹Ž‹–‹‡•ǡ‡š…Ž—†‹‰…—””‡– ’‘”–‹‘…ƒ’‹–ƒŽŽ‡ƒ•‡‘„Ž‹‰ƒ–‹‘• –Š‡”Ž‘‰Ǧ–‡”‘„Ž‹‰ƒ–‹‘• ‘•–”‡–‹”‡‡–‡†‹…ƒŽ„‡‡ˆ‹–• ‡–…ƒ•Šˆ”‘‘’‡”ƒ–‹‰ƒ…–‹˜‹–‹‡•



NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     NOTE1–ORGANIZATIONANDSUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES OrganizationȂ—”‹‰ˆ‹•…ƒŽ›‡ƒ”ʹͲͳ͵Žƒ‹‘ ‘•’‹–ƒŽ‹•–”‹…–…Šƒ‰‡†‹–•ƒ‡–‘Žƒ‹‘ ‡ƒŽ–Š…ƒ”‡‹•–”‹…– ȋ–Š‡Dz‹•–”‹…–dzȌǡ–‘ƒ‡ƒ•Šƒ”’‡”†‹•–‹…–‹‘„‡–™‡‡–Š‡–ƒš’ƒ›‡”Ǧˆ—†‡†‹•–”‹…–ƒ†–Š‡‘’‡”ƒ–‹‘•‘ˆŽƒ‹‘ ‘•’‹–ƒŽȋ–Š‡Dz ‘•’‹–ƒŽdzȌƒ†‹–•”‡Žƒ–‡†…‘”’‘”ƒ–‹‘•Ǥ Š‡‹•–”‹…–‹…Ž—†‡•–Š‡ˆ‘ŽŽ‘™‹‰…‘’‘‡–—‹–•™Š‹…Šƒ”‡‹…Ž—†‡†ƒ•„Ž‡†‡†…‘’‘‡–—‹–•‘ˆ–Š‡‹•–”‹…–ǯ• …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•ǣ –Š‡ ‘•’‹–ƒŽǡ Žƒ‹‘ ‘•’‹–ƒŽ ‘—†ƒ–‹‘ ȋ–Š‡ Dz ‘—†ƒ–‹‘dzȌǡ ǣ ’Ž‘›‡‡ ••‹•–ƒ…‡ ”‘‰”ƒ ȋDzdzȌǡ Žƒ‹‘ —”‰‡”› ‡–‡”ǡ  ȋDzdzȌǡ ƒ† ‹Ž‹…‘ ƒŽŽ‡› ‡†‹…ƒŽ ‡˜‡Ž‘’‡–ǡȋDzdzȌǤ Š‡ ‹•–”‹…– ‹• ‘”‰ƒ‹œ‡† ƒ• ƒ ’‘Ž‹–‹…ƒŽ •—„†‹˜‹•‹‘ ‘ˆ –Š‡ –ƒ–‡ ‘ˆ ƒŽ‹ˆ‘”‹ƒ ƒ† ™ƒ• …”‡ƒ–‡† ˆ‘” –Š‡ ’—”’‘•‡ ‘ˆ ‘’‡”ƒ–‹‰ƒƒ…—–‡…ƒ”‡Š‘•’‹–ƒŽƒ†’”‘˜‹†‹‰ƒƒ‰‡‡–•‡”˜‹…‡•–‘…‡”–ƒ‹”‡Žƒ–‡†…‘”’‘”ƒ–‹‘•ǤŠ‡‹•–”‹…–‹• –Š‡•‘Ž‡‡„‡”‘ˆ–Š‡ ‘•’‹–ƒŽǡƒ†–Š‡ ‘•’‹–ƒŽ‹•–Š‡•‘Ž‡…‘”’‘”ƒ–‡‡„‡”‘ˆ–Š‡ ‘—†ƒ–‹‘ƒ†Ǥ• •‘Ž‡ ‡„‡”ǡ –Š‡ ‹•–”‹…– ȋ™‹–Š ”‡•’‡…– –‘ –Š‡ ‘•’‹–ƒŽȌ ƒ† –Š‡ ‘•’‹–ƒŽ ȋ™‹–Š ”‡•’‡…– –‘ –Š‡ ‘—†ƒ–‹‘ ƒ† Ȍ Šƒ˜‡ …‡”–ƒ‹ ’‘™‡”•ǡ •—…Š ƒ• –Š‡ ƒ’’‘‹–‡– ƒ† ”‡‘˜ƒŽ ‘ˆ –Š‡ „‘ƒ”†• ‘ˆ †‹”‡…–‘”• ƒ† ƒ’’”‘˜ƒŽ ‘ˆ …Šƒ‰‡• –‘ –Š‡ ƒ”–‹…Ž‡• ‘ˆ ‹…‘”’‘”ƒ–‹‘ ƒ† „›Žƒ™•Ǥ • ‘ˆ —‡͵Ͳǡ ʹͲͳʹǡ –Š‡ ‘•’‹–ƒŽ ‘™‡† ͻͻǤͻΨ ‘ˆ  ƒ† ƒ ’Š›•‹…‹ƒ‘™‡†–Š‡”‡ƒ‹‹‰ͲǤͳΨǤ ƒ›ʹͲͳ͵ǡ–Š‡ ‘•’‹–ƒŽ’—”…Šƒ•‡†–Š‡”‡ƒ‹‹‰ͲǤͳΨˆ”‘–Š‡’Š›•‹…‹ƒǤ• ‘ˆ —‡͵ͲǡʹͲͳ͵ǡ–Š‡ ‘•’‹–ƒŽ‘™•ͳͲͲΨ‘ˆǤ Š‡ ’—”’‘•‡ ‘ˆ  ‹• –‘ ’”‘˜‹†‡ ƒ† ‘’‡”ƒ–‡ ƒ •’‡…‹ƒŽ‹œ‡† Š‡ƒŽ–Š…ƒ”‡ •‡”˜‹…‡ ’Žƒ ˆ‘” ˜ƒ”‹‘—• „—•‹‡•• ‘”‰ƒ‹œƒ–‹‘• ƒ–‹‘™‹†‡Ǣ  Šƒ• ƒ Ž‹‹–‡† ‘šǦ‡‡‡ Ž‹…‡•‡ ˆ”‘ –Š‡ ‡’ƒ”–‡– ‘ˆ ‘”’‘”ƒ–‹‘• ‘ˆ –Š‡ –ƒ–‡‘ˆƒŽ‹ˆ‘”‹ƒǤ  ™ƒ• ˆ‘”‡† ‹ ‡’–‡„‡” ʹͲͲͺ ƒ• ƒ ‹‹–‡† ‹ƒ„‹Ž‹–› ‘”’‘”ƒ–‹‘ȋDzdzȌǡ ƒ ™Š‘ŽŽ› ‘™‡† •—„•‹†‹ƒ”› ‘ˆ –Š‡ ‘•’‹–ƒŽˆ‘…—•‡†‘–Š‡‡š’ƒ•‹‘‘ˆ–Š‡…Ž‹‹…ƒŽ‡–‡”’”‹•‡‘—–•‹†‡‘ˆ–Š‡ ‘•’‹–ƒŽ–Š”‘—‰Š˜ƒ”‹‘—•„—•‹‡••˜‡–—”‡• ƒ† ’Š›•‹…‹ƒ ƒŽ‹‰‡– ‹‹–‹ƒ–‹˜‡• –Šƒ– ‹’”‘˜‡ ƒ……‡•• ˆ‘” –Š‡ ‘•’‹–ƒŽǯ• …—””‡– ’ƒ–‹‡–• ƒ† ‡™ǡ —†‡”•‡”˜‡† ‡„‡”•‘ˆ–Š‡…‘—‹–›ǡ‡š–‡†Š‡ƒŽ–Š…ƒ”‡‹–‘’‡‘’Ž‡ǯ•Š‘‡•–Š”‘—‰Š–Š‡ƒ’’Ž‹…ƒ–‹‘•‘ˆ‡Ž‡…–”‘‹……‘‡…–‹˜‹–› ƒ†ƒ••‹•–‹†‡’‡†‡–’Š›•‹…‹ƒ•‹…Ž‹‹…ƒŽ‹–‡‰”ƒ–‹‘™‹–Š–Š‡ ‘•’‹–ƒŽǡƒ‘‰‘–Š‡”‹‹–‹ƒ–‹˜‡•Ǥ ŽŽ•‹‰‹ˆ‹…ƒ–‹–‡”Ǧ‡–‹–›ƒ……‘—–•ƒ†–”ƒ•ƒ…–‹‘•Šƒ˜‡„‡‡‡Ž‹‹ƒ–‡†‹–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•Ǥ Accounting standards Ȃ —”•—ƒ– –‘ ‘˜‡”‡– ……‘—–‹‰ –ƒ†ƒ”† ‘ƒ”† ȋDz dzȌ –ƒ–‡‡– ‘Ǥ ͸ʹǡ CodificationofAccountingandFinancialReportingGuidanceContainedinPreǦNovember30,1989FinancialAccounting Standards Board (“FASB”) and American Institute of Certified Public Accountants (“AICPA”) Pronouncementsǡ –Š‡ ‹•–”‹…–ǯ• ’”‘’”‹‡–ƒ”› ˆ—† ƒ……‘—–‹‰ ƒ† ˆ‹ƒ…‹ƒŽ ”‡’‘”–‹‰ ’”ƒ…–‹…‡• ƒ”‡ „ƒ•‡† ‘ ƒŽŽ ƒ’’Ž‹…ƒ„Ž‡  ’”‘‘—…‡‡–•ƒ•™‡ŽŽƒ•…‘†‹ˆ‹‡†’”‘‘—…‡‡–•‹••—‡†‘‘”„‡ˆ‘”‡‘˜‡„‡”͵ͲǡͳͻͺͻǤ Š‡‹•–”‹…–—–‹Ž‹œ‡•–Š‡’”‘’”‹‡–ƒ”›ˆ—†‡–Š‘†‘ˆƒ……‘—–‹‰™Š‡”‡„›”‡˜‡—‡•ƒ†‡š’‡•‡•ƒ”‡”‡…‘‰‹œ‡†‘–Š‡ ƒ……”—ƒŽ„ƒ•‹•ƒ†…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ƒ”‡’”‡’ƒ”‡†—•‹‰–Š‡‡…‘‘‹…”‡•‘—”…‡•‡ƒ•—”‡‡–ˆ‘…—•Ǥ UseofestimatesȂŠ‡’”‡’ƒ”ƒ–‹‘‘ˆ–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•‹…‘ˆ‘”‹–›™‹–Šƒ……‘—–‹‰’”‹…‹’Ž‡• ‰‡‡”ƒŽŽ› ƒ……‡’–‡† ‹ –Š‡ ‹–‡† –ƒ–‡• ‘ˆ ‡”‹…ƒ ”‡“—‹”‡• ƒƒ‰‡‡– –‘ ƒ‡ ‡•–‹ƒ–‡• ƒ† ƒ••—’–‹‘• –Šƒ– ƒˆˆ‡…––Š‡”‡’‘”–‡†ƒ‘—–•‘ˆƒ••‡–•ƒ†Ž‹ƒ„‹Ž‹–‹‡•ƒ††‹•…Ž‘•—”‡‘ˆ…‘–‹‰‡–ƒ••‡–•ƒ†Ž‹ƒ„‹Ž‹–‹‡•ƒ––Š‡†ƒ–‡‘ˆ–Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•Ǥ •–‹ƒ–‡• ƒŽ•‘ ƒˆˆ‡…– –Š‡ ”‡’‘”–‡† ƒ‘—–• ‘ˆ ”‡˜‡—‡• ƒ† ‡š’‡•‡• †—”‹‰ –Š‡ ”‡’‘”–‹‰’‡”‹‘†Ǥ…–—ƒŽ”‡•—Ž–•…‘—Ž††‹ˆˆ‡”ˆ”‘–Š‘•‡‡•–‹ƒ–‡•Ǥ 

CashandcashequivalentsȂƒ•Šƒ†…ƒ•Š‡“—‹˜ƒŽ‡–•‹…Ž—†‡†‡’‘•‹–•™‹–Šˆ‹ƒ…‹ƒŽ‹•–‹–—–‹‘•ǡƒ†‹˜‡•–‡–• ‹Š‹‰ŠŽ›Ž‹“—‹††‡„–‹•–”—‡–•™‹–Šƒ‘”‹‰‹ƒŽƒ–—”‹–›‘ˆ–Š”‡‡‘–Š•‘”Ž‡••Ǥ ƒ††‹–‹‘ǡ‹ʹͲͳ͵ƒ†ʹͲͳʹǡ…ƒ•Š ƒ†…ƒ•Š‡“—‹˜ƒŽ‡–•‹…Ž—†‡”‡’—”…Šƒ•‡ƒ‰”‡‡‡–•ǡ™Š‹…Š…‘•‹•–‘ˆŠ‹‰ŠŽ›Ž‹“—‹†‘„Ž‹‰ƒ–‹‘•‘ˆǤǤ‰‘˜‡”‡–ƒŽ ƒ‰‡…‹‡•Ǥ ƒ•Š ƒ† …ƒ•Š ‡“—‹˜ƒŽ‡–• ‡š…Ž—†‡ ƒ‘—–• ™Š‘•‡ —•‡ ‹• Ž‹‹–‡† „› „‘ƒ”† †‡•‹‰ƒ–‹‘ ‘” „› Ž‡‰ƒŽ ”‡•–”‹…–‹‘Ǥ

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CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     InvestmentsȂ ˜‡•–‡–•…‘•‹•–’”‹ƒ”‹Ž›‘ˆŠ‹‰ŠŽ›Ž‹“—‹††‡„–‹•–”—‡–•ƒ†‘–Š‡”•Š‘”–Ǧ–‡”‹–‡”‡•–Ǧ„‡ƒ”‹‰ …‡”–‹ˆ‹…ƒ–‡• ‘ˆ †‡’‘•‹–ǡ ǤǤ ”‡ƒ•—”› „‹ŽŽ•ǡ ǤǤ ‰‘˜‡”‡– ‘„Ž‹‰ƒ–‹‘•ǡ Š‡†‰‡ ˆ—†•ǡ Š‡†‰‡ ˆ—† ‘ˆ ˆ—†•ǡ ƒ† …‘”’‘”ƒ–‡ †‡„–ǡ ‡š…Ž—†‹‰ ƒ‘—–• ™Š‘•‡ —•‡ ‹• Ž‹‹–‡† „› „‘ƒ”† †‡•‹‰ƒ–‹‘ ‘” ‘–Š‡” ƒ””ƒ‰‡‡–• —†‡” –”—•– ƒ‰”‡‡‡–•Ǥ ‘ƒ”†Ǧ†‡•‹‰ƒ–‡† ƒ† ”‡•–”‹…–‡† ˆ—†• ‹…Ž—†‡ ƒ••‡–• •‡– ƒ•‹†‡ „› –Š‡ „‘ƒ”† ˆ‘” ˆ—–—”‡ …ƒ’‹–ƒŽ ‹’”‘˜‡‡–• ƒ† ‘–Š‡” ‘’‡”ƒ–‹‘ƒŽ ”‡•‡”˜‡•ǡ ‘˜‡” ™Š‹…Š –Š‡ „‘ƒ”† ”‡–ƒ‹• …‘–”‘Ž ƒ† ƒ› ƒ– ‹–• †‹•…”‡–‹‘ —•‡ ˆ‘” ‘–Š‡” ’—”’‘•‡•Ǣ ƒ••‡–••‡–ƒ•‹†‡ˆ‘”“—ƒŽ‹ˆ‹‡†…ƒ’‹–ƒŽ‘—–Žƒ›’”‘Œ‡…–•‹…‘’Ž‹ƒ…‡™‹–Š•–ƒ–‡Žƒ™Ǣƒ†ƒ••‡–•”‡•–”‹…–‡†„›†‘‘”•‘” ‰”ƒ–‘”•Ǥ

˜‡•–‡– ‹…‘‡ǡ ”‡ƒŽ‹œ‡† ‰ƒ‹• ƒ† Ž‘••‡•ǡ ƒ† —”‡ƒŽ‹œ‡† ‰ƒ‹• ƒ† Ž‘••‡• ‘ ‹˜‡•–‡–• ƒ”‡ ”‡ˆŽ‡…–‡† ƒ• ‘‘’‡”ƒ–‹‰”‡˜‡—‡‘”‡š’‡•‡Ǥ DeferredfinancingcostsȂ ‹ƒ…‹‰…‘•–•‹…—””‡†™‹–Š–Š‡‹••—ƒ…‡‘ˆ„‘†•ƒ”‡ƒ‘”–‹œ‡†‘˜‡”–Š‡–‡”‘ˆ–Š‡ „‘†•—•‹‰ƒ‡–Š‘†–Šƒ–ƒ’’”‘š‹ƒ–‡•–Š‡‡ˆˆ‡…–‹˜‡‹–‡”‡•–”ƒ–‡‡–Š‘†ǡ‹…Ž—†‡†‹’”‡’ƒ‹†‡š’‡•‡•ƒ†‘–Š‡” …—””‡–ƒ••‡–•Ǥ‘”–‹œƒ–‹‘‘ˆ–Š‡•‡…‘•–•‹•‹…Ž—†‡†‹‹–‡”‡•–‡š’‡•‡Ǥ BondassetsheldintrustȂ……‘”†‹‰–‘–Š‡–‡”•‘ˆ„‘–Š‹†‡–—”‡ƒ‰”‡‡‡–•ȋ ‡‡”ƒŽ„Ž‹‰ƒ–‹‘ƒ†‡˜‡—‡ ‘†•Ȍǡ–Š‡•‡ƒ‘—–•ƒ”‡Š‡Ž†„›–Š‡„‘†–”—•–‡‡ƒ†’ƒ›‹‰ƒ‰‡–ƒ†ƒ”‡ƒ‹–ƒ‹‡†ƒ†ƒƒ‰‡†„›–Š‡–”—•–‡‡ ƒ†ƒ”‡‹˜‡•–‡†‹•Š‘”–Ǧ–‡”…ƒ•Š‡“—‹˜ƒŽ‡–•ǤŠ‡•‡ƒ••‡–•ƒ”‡ƒ˜ƒ‹Žƒ„Ž‡ˆ‘”–Š‡•‡––Ž‡‡–‘ˆˆ—–—”‡…—””‡–„‘† ‘„Ž‹‰ƒ–‹‘•Ǥ CapitalassetsȂƒ’‹–ƒŽƒ••‡–ƒ…“—‹•‹–‹‘•ƒ”‡”‡…‘”†‡†ƒ–…‘•–Ǥ‘ƒ–‡†’”‘’‡”–›‹•”‡…‘”†‡†ƒ–‹–•ˆƒ‹”ƒ”‡–˜ƒŽ—‡ ‘–Š‡†ƒ–‡‘ˆ†‘ƒ–‹‘ǤŽŽ’—”…Šƒ•‡•‘˜‡”̈́ʹǡͷͲͲƒ”‡…ƒ’‹–ƒŽ‹œ‡†Ǥ“—‹’‡–—†‡”…ƒ’‹–ƒŽŽ‡ƒ•‡‹•ƒ‘”–‹œ‡†‘–Š‡ •–”ƒ‹‰Š–ǦŽ‹‡ „ƒ•‹• ‘˜‡” –Š‡ •Š‘”–‡” ‘ˆ –Š‡ Ž‡ƒ•‡ –‡” ‘” –Š‡ ‡•–‹ƒ–‡† —•‡ˆ—Ž Ž‹ˆ‡ ‘ˆ –Š‡ ‡“—‹’‡–Ǥ ‡ƒ•‡Š‘Ž† ‹’”‘˜‡‡–•ƒ”‡ƒ‘”–‹œ‡†—•‹‰–Š‡•–”ƒ‹‰Š–ǦŽ‹‡‡–Š‘†‘˜‡”–Š‡•Š‘”–‡”‘ˆ–Š‡Ž‡ƒ•‡–‡”‘”–Š‡‡•–‹ƒ–‡†—•‡ˆ—Ž Ž‹ˆ‡‘ˆ–Š‡”‡Žƒ–‡†ƒ••‡–•Ǥ‡’”‡…‹ƒ–‹‘‹•…‘’—–‡†—•‹‰–Š‡•–”ƒ‹‰Š–ǦŽ‹‡‡–Š‘†‘˜‡”–Š‡‡•–‹ƒ–‡†—•‡ˆ—ŽŽ‹˜‡•‘ˆ –Š‡ƒ••‡–•ƒ•ˆ‘ŽŽ‘™•ǣ ƒ†‹’”‘˜‡‡–• —‹Ž†‹‰•ƒ†ˆ‹š–—”‡• “—‹’‡–

ͳ͸›‡ƒ”• ʹͷȂ Ͷ͹ ›‡ƒ”• ͵Ȃ ͳ͸›‡ƒ”•

Š‡ ‹•–”‹…– ‡˜ƒŽ—ƒ–‡• ’”‘‹‡– ‡˜‡–• ‘” …Šƒ‰‡• ‹ …‹”…—•–ƒ…‡• ƒˆˆ‡…–‹‰ …ƒ’‹–ƒŽ ƒ••‡–• –‘ †‡–‡”‹‡ ™Š‡–Š‡” ‹’ƒ‹”‡–‘ˆƒ…ƒ’‹–ƒŽƒ••‡–Šƒ•‘……—””‡†Ǥ ’ƒ‹”‡–Ž‘••‡•‘…ƒ’‹–ƒŽƒ••‡–•ƒ”‡‡ƒ•—”‡†—•‹‰–Š‡‡–Š‘†–Šƒ– „‡•–”‡ˆŽ‡…–•–Š‡†‹‹‹•Š‡†•‡”˜‹…‡—–‹Ž‹–›‘ˆ–Š‡…ƒ’‹–ƒŽƒ••‡–Ǥ CostsofborrowingȂš…‡’–ˆ‘”…ƒ’‹–ƒŽƒ••‡–•ƒ…“—‹”‡†–Š”‘—‰Š‰‹ˆ–•ǡ…‘–”‹„—–‹‘•‘”…ƒ’‹–ƒŽ‰”ƒ–•ǡ‹–‡”‡•–…‘•–‘ „‘””‘™‡† ˆ—†• †—”‹‰ –Š‡ ’‡”‹‘† ‘ˆ …‘•–”—…–‹‘ ‘ˆ …ƒ’‹–ƒŽ ƒ••‡–• ‹• …ƒ’‹–ƒŽ‹œ‡† ƒ• ƒ …‘’‘‡– ‘ˆ –Š‡ …‘•– ‘ˆ ƒ…“—‹”‹‰–Š‘•‡ƒ••‡–•Ǥ InvestmentsinhealthcarerelatedaffiliatesȂŠ‡ ‘•’‹–ƒŽŠ‘Ž†•ƒ‹–‡”‡•–‹ƒ–Š™ƒ›• ‘‡ ‡ƒŽ–ŠƬ ‘•’‹…‡ ƒ† ƒ–Š™ƒ›• ”‹˜ƒ–‡ —–› ȋˆ‘”‡”Ž› ƒ–Š™ƒ›• ‘–‹—‘—• ƒ”‡Ȍǡ ™Š‹…Š ƒ”‡ ”‡’‘”–‡† ‘ –Š‡ ‡“—‹–› ‡–Š‘† ‘ˆ ƒ……‘—–‹‰Ǥ RiskmanagementȂŠ‡ ‘•’‹–ƒŽ‹•‡š’‘•‡†–‘˜ƒ”‹‘—•”‹••‘ˆŽ‘••ˆ”‘–‘”–•Ǣ–Š‡ˆ–‘ˆǡ†ƒƒ‰‡–‘ǡƒ††‡•–”—…–‹‘‘ˆ ƒ••‡–•Ǣ„—•‹‡••‹–‡””—’–‹‘Ǣ‡””‘”•ƒ†‘‹••‹‘•Ǣ‡’Ž‘›‡‡‹Œ—”‹‡•ƒ†‹ŽŽ‡••‡•Ǣƒ–—”ƒŽ†‹•ƒ•–‡”•Ǣƒ†‡’Ž‘›‡‡ Š‡ƒŽ–Šǡ †‡–ƒŽǡ ƒ† ƒ……‹†‡– „‡‡ˆ‹–•Ǥ ‘‡”…‹ƒŽ ‹•—”ƒ…‡ …‘˜‡”ƒ‰‡ ‹• ’—”…Šƒ•‡† ˆ‘” …Žƒ‹• ƒ”‹•‹‰ ˆ”‘ •—…Š ƒ––‡”•Ǥ‡––Ž‡†…Žƒ‹•Šƒ˜‡‘–‡š…‡‡†‡†–Š‹•…‘‡”…‹ƒŽ…‘˜‡”ƒ‰‡‹ƒ›‘ˆ–Š‡–Š”‡‡’”‡…‡†‹‰›‡ƒ”•Ǥ

ELCAMINOHEALTHCAREDISTRICT NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     SelfǦinsuranceplansȂŠ‡ ‘•’‹–ƒŽƒ‹–ƒ‹•’”‘ˆ‡••‹‘ƒŽŽ‹ƒ„‹Ž‹–›‹•—”ƒ…‡‘ƒ…Žƒ‹•Ǧƒ†‡„ƒ•‹•ǡ™‹–ŠŽ‹ƒ„‹Ž‹–› Ž‹‹–• ‘ˆ ̈́͵ͲǡͲͲͲǡͲͲͲ ‹ ƒ‰‰”‡‰ƒ–‡ǡ ƒ† ™Š‹…Š ‹• •—„Œ‡…– –‘ ƒ ̈́ͷͲǡͲͲͲ †‡†—…–‹„Ž‡Ǥ ††‹–‹‘ƒŽŽ›ǡ –Š‡ ‘•’‹–ƒŽ ‹• •‡ŽˆǦ ‹•—”‡† ˆ‘” ™‘”‡”•ǯ …‘’‡•ƒ–‹‘ „‡‡ˆ‹–•Ǥ Š‡ ‘•’‹–ƒŽ ’—”…Šƒ•‡• ƒ ‘”‡”•ǯ ‘’‡•ƒ–‹‘ š…‡•• ‘Ž‹…› –Šƒ– ‹•—”‡•…Žƒ‹•‰”‡ƒ–‡”–Šƒ̈́ͳǡͲͲͲǡͲͲͲ™‹–ŠƒŽ‹‹–‘ˆ̈́ͳͲǡͲͲͲǡͲͲͲƒ†ƒ̈́ͳǡͲͲͲǡͲͲͲ†‡†—…–‹„Ž‡Ǥ…–—ƒ”‹ƒŽ‡•–‹ƒ–‡•‘ˆ —‹•—”‡† Ž‘••‡• ˆ‘” ’”‘ˆ‡••‹‘ƒŽ Ž‹ƒ„‹Ž‹–› ƒ† ™‘”‡”•ǯ …‘’‡•ƒ–‹‘ Šƒ˜‡ „‡‡ ƒ……”—‡† ƒ• Ž‹ƒ„‹Ž‹–‹‡• ‹ –Š‡ ƒ……‘’ƒ›‹‰…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•Ǥ Š‡ ˆ‘ŽŽ‘™‹‰ ‹• ƒ •—ƒ”› ‘ˆ …Šƒ‰‡• ‹ ™‘”‡”•ǯ …‘’‡•ƒ–‹‘ Ž‹ƒ„‹Ž‹–‹‡• ˆ‘�� –Š‡ ›‡ƒ”• ‡†‡† —‡͵Ͳ ȋ‹ –Š‘—•ƒ†•Ȍǣ EndingBalance BeginningBalance Increases Decreases ʹͲͳ͵

ʹͲͳʹ

̈́ ͵ǡͺʹͲ

Increases

Decreases

̈́ʹͷǡ͹Ͳͻ EndingBalance

̈́ͳ͹ǡͺ͹ʹ

̈́ ͷǡ͵Ͷ͵

̈́ ʹǡͺͺͶ

̈́ʹͲǡ͵͵ͳ

Net position Ȃ ‡– ’‘•‹–‹‘ ‘ˆ –Š‡ ‹•–”‹…– ƒ”‡ …Žƒ••‹ˆ‹‡† ƒ• ‹˜‡•–‡† ‹ …ƒ’‹–ƒŽ ƒ••‡–•ǡ ”‡•–”‹…–‡†Ȃ‡š’‡†ƒ„Ž‡ǡ ”‡•–”‹…–‡†Ǧ‘‡š’‡†ƒ„Ž‡ǡƒ†—”‡•–”‹…–‡†‡–’‘•‹–‹‘Ǥ Invested in capital assets, net of related debt Ȃ ˜‡•–‡† ‹ …ƒ’‹–ƒŽ ƒ••‡–• ‘ˆ ̈́͵͵ͷǡͳͳͶǡͲͲͲ ƒ† ̈́͵Ͷ͵ǡ͸ͻͶǡͲͲͲ ƒ– —‡͵Ͳǡ ʹͲͳ͵ ƒ† ʹͲͳʹǡ ”‡•’‡…–‹˜‡Ž›ǡ ”‡’”‡•‡– ‹˜‡•–‡–• ‹ ƒŽŽ …ƒ’‹–ƒŽ ƒ••‡–• ȋ„—‹Ž†‹‰ ƒ† „—‹Ž†‹‰ ‹’”‘˜‡‡–•ǡ ˆ—”‹–—”‡ ƒ† ˆ‹š–—”‡•ǡ ƒ† ‹ˆ‘”ƒ–‹‘ ƒ† –‡…Š‘Ž‘‰› ‡“—‹’‡–Ȍǡ ‡– ‘ˆ †‡’”‡…‹ƒ–‹‘Ž‡••ƒ›†‡„–‹••—‡†–‘ˆ‹ƒ…‡–Š‘•‡…ƒ’‹–ƒŽƒ••‡–•Ǥ RestrictedǦexpendableȂŠ‡”‡•–”‹…–‡†‡š’‡†ƒ„Ž‡‡–’‘•‹–‹‘‹•”‡•–”‹…–‡†–Š”‘—‰Š‡š–‡”ƒŽ…‘•–”ƒ‹–• ‹’‘•‡†„›…”‡†‹–‘”•ȋ•—…Šƒ•–Š”‘—‰Š†‡„–…‘˜‡ƒ–•Ȍǡ‰”ƒ–‘”•ǡ…‘–”‹„—–‘”•ǡŽƒ™•‘””‡‰—Žƒ–‹‘•‘ˆ‘–Š‡” ‰‘˜‡”‡–•ǡ ‘” …‘•–”ƒ‹–• ‹’‘•‡† „› Žƒ™ –Š”‘—‰Š …‘•–‹–—–‹‘ƒŽ ’”‘˜‹•‹‘• ‘” ‡ƒ„Ž‹‰ Ž‡‰‹•Žƒ–‹‘ ƒ† ‹…Ž—†‡•ƒ••‡–•‹•‡ŽˆǦ‹•—”ƒ…‡–”—•–ˆ—†•ǡ”‡˜‡—‡„‘†”‡•‡”˜‡ˆ—†ƒ••‡–•ǡƒ†‡–’‘•‹–‹‘”‡•–”‹…–‡†–‘ —•‡„›†‘‘”•Ǥ RestrictedǦnonexpendableǦŠ‡”‡•–”‹…–‡†‘Ǧ‡š’‡†ƒ„Ž‡‡–’‘•‹–‹‘‹•‡“—ƒŽ–‘–Š‡’”‹…‹’ƒŽ’‘”–‹‘‘ˆ ’‡”ƒ‡–‡†‘™‡–•Ǥ Unrestricted net position Ȃ ”‡•–”‹…–‡† ‡– ’‘•‹–‹‘ …‘•‹•–• ‘ˆ ‡– ’‘•‹–‹‘ –Šƒ– †‘‡• ‘– ‡‡– –Š‡ †‡ˆ‹‹–‹‘‘ˆ‹˜‡•–‡†‹…ƒ’‹–ƒŽƒ••‡–•ǡ‡–‘ˆ”‡Žƒ–‡††‡„–ǡ‘””‡•–”‹…–‡†Ǥ Statementsofrevenues,expenses,andchangesinnetpositionȂ ‘”’—”’‘•‡•‘ˆ†‹•’Žƒ›ǡ–”ƒ•ƒ…–‹‘•†‡‡‡†„› ƒƒ‰‡‡––‘„‡‘‰‘‹‰ǡƒŒ‘”ǡ‘”…‡–”ƒŽ–‘–Š‡’”‘˜‹•‹‘•‘ˆŠ‡ƒŽ–Š…ƒ”‡•‡”˜‹…‡•ƒ”‡”‡’‘”–‡†ƒ•”‡˜‡—‡•ƒ† ‡š’‡•‡•Ǥ‡”‹’Š‡”ƒŽ‘”‹…‹†‡–ƒŽ–”ƒ•ƒ…–‹‘•ƒ”‡”‡’‘”–‡†ƒ•‰ƒ‹•ƒ†Ž‘••‡•ǤŠ‡•‡’‡”‹’Š‡”ƒŽƒ…–‹˜‹–‹‡•‹…Ž—†‡ ‹˜‡•–‡– ‹…‘‡ǡ ’”‘’‡”–› –ƒš ”‡˜‡—‡ǡ ‰‹ˆ–•ǡ ‰”ƒ–• ƒ† „‡“—‡•–•ǡ …Šƒ‰‡ ‹ ‡– —”‡ƒŽ‹œ‡† ‰ƒ‹• ƒ† Ž‘••‡• ‘ ‹˜‡•–‡–• ‹ ƒ”‡–ƒ„Ž‡ •‡…—”‹–‹‡•ǡ —”‡ƒŽ‹œ‡† Ž‘••‡• ‘ ‹–‡”‡•– ”ƒ–‡ •™ƒ’• ƒ† ƒ”‡ ”‡’‘”–‡† ƒ• ‘‘’‡”ƒ–‹‰Ǥ

˜‡•–‡–•‹–Š‡ƒ–Š™ƒ›• ‘‡ ‡ƒŽ–ŠƬ ‘•’‹…‡ƒ†ƒ–Š™ƒ›•”‹˜ƒ–‡—–›ƒ”‡ƒ……‘—–‡†ˆ‘”—†‡”–Š‡‡“—‹–› ‡–Š‘†Ǥ Š‡ ‘•’‹–ƒŽǯ• •Šƒ”‡ ‘ˆ –Š‡ ‘’‡”ƒ–‹‰ ‹…‘‡ ‘ˆ –Š‡•‡ ‡–‹–‹‡• ‹• ‹…Ž—†‡† ƒ• ‘–Š‡”ǡ ‡– ‹ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•Ǥ

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̈́ͻǡͳͻͺ

 Interest rate swap agreements Ȃ —”‹‰ –Š‡ ˆ‹•…ƒŽ ›‡ƒ” ‡†‡† —‡͵Ͳǡ ʹͲͲ͹ǡ –Š‡ ‘•’‹–ƒŽ ‡–‡”‡† ‹–‘ †‡”‹˜ƒ–‹˜‡ ‹•–”—‡–• ‹ –Š‡ ˆ‘” ‘ˆ –Š”‡‡ •™ƒ’ ƒ‰”‡‡‡–• –‘ Š‡†‰‡ ˜ƒ”‹ƒ„Ž‡ ‹–‡”‡•– ”ƒ–‡ ‡š’‘•—”‡Ǥ —”‹‰ –Š‡ ˆ‹•…ƒŽ ›‡ƒ” ‡†‡† —‡͵Ͳǡ ʹͲͲͺǡ –Š‡ —†‡”Ž›‹‰ ˜ƒ”‹ƒ„Ž‡ ”ƒ–‡ †‡„– ™ƒ• ”‡ˆ—†‡† ˆ‘” ˆ‹š‡† ”ƒ–‡ †‡„–ǡ Ž‡ƒ˜‹‰ –Š‡ ‘•’‹–ƒŽ ™‹–Š •’‡…—Žƒ–‹˜‡†‡”‹˜ƒ–‹˜‡‹•–”—‡–•–Šƒ–Žƒ”‰‡Ž›‘ˆˆ•‡––Š‡˜ƒ”‹ƒ„Ž‡”ƒ–‡†‡„–‹••—‡†‹ʹͲͲͻǤ™‘‘ˆ–Š‡•‡•™ƒ’•™‡”‡ –‡”‹ƒ–‡† ‹ –Š‡ ˆ‹•…ƒŽ ›‡ƒ” ‡†‡† —‡͵Ͳǡ ʹͲͳͲǤ ‡ˆ‡” –‘ ‘–‡ ͻ ˆ‘” ƒ ˆ—ŽŽ †‡•…”‹’–‹‘ ‘ˆ –Š‡ ‹–‡”‡•– ”ƒ–‡ •™ƒ’ ƒ‰”‡‡‡–•Ǥ

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̈́ʹͲǡ͵͵ͳ BeginningBalance


CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     Net patient service revenue and patient accounts receivable Ȃ ‡– ’ƒ–‹‡– •‡”˜‹…‡ ”‡˜‡—‡ ‹• ”‡’‘”–‡† ƒ– –Š‡ ‡•–‹ƒ–‡† ‡– ”‡ƒŽ‹œƒ„Ž‡ ƒ‘—–• ˆ”‘ ’ƒ–‹‡–•ǡ –Š‹”†Ǧ’ƒ”–› ’ƒ›‘”•ǡ ƒ† ‘–Š‡”• ˆ‘” •‡”˜‹…‡• ”‡†‡”‡†ǡ ‹…Ž—†‹‰ ‡•–‹ƒ–‡† ”‡–”‘ƒ…–‹˜‡ ƒ†Œ—•–‡–• —†‡” ”‡‹„—”•‡‡– ƒ‰”‡‡‡–• ™‹–Š –Š‹”†Ǧ’ƒ”–› ’ƒ›‘”•Ǥ ‡–”‘ƒ…–‹˜‡ ƒ†Œ—•–‡–•ƒ”‡ƒ……”—‡†‘ƒ‡•–‹ƒ–‡†„ƒ•‹•‹–Š‡’‡”‹‘†–Š‡”‡Žƒ–‡†•‡”˜‹…‡•ƒ”‡”‡†‡”‡†ǡƒ†ƒ†Œ—•–‡†‹ˆ—–—”‡ ’‡”‹‘†•ƒ•ˆ‹ƒŽ•‡––Ž‡‡–•ƒ”‡†‡–‡”‹‡†Ǥ– —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǡ–Š‡ ‘•’‹–ƒŽ’”‘˜‹†‡†ƒŽŽ‘™ƒ…‡•ˆ‘”Ž‘••‡• ‘ƒ‘—–•”‡…‡‹˜ƒ„Ž‡†‹”‡…–Ž›ˆ”‘’ƒ–‹‡–•–‘–ƒŽ‹‰̈́ͳ͵ǡʹͲͶǡͲͲͲƒ†̈́ͳʹǡͷͶʹǡͲͲͲǡ”‡•’‡…–‹˜‡Ž›ǤŠ‡†‹•–”‹„—–‹‘‘ˆ ‡–’ƒ–‹‡–ƒ……‘—–•”‡…‡‹˜ƒ„Ž‡„›’ƒ›‘”ƒ– —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǡ‹•ƒ•ˆ‘ŽŽ‘™•ǣ

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     Income taxes Ȃ Š‡ ‹•–”‹…– ‘’‡”ƒ–‡• —†‡” –Š‡ ’—”˜‹‡™ ‘ˆ –Š‡ –‡”ƒŽ ‡˜‡—‡ ‘†‡ǡ ‡…–‹‘ ͳͳͷǡ ƒ† …‘””‡•’‘†‹‰ƒŽ‹ˆ‘”‹ƒ‡˜‡—‡ƒ†ƒšƒ–‹‘‘†‡’”‘˜‹•‹‘•Ǥ••—…Šǡ‹–‹•‘–•—„Œ‡…––‘•–ƒ–‡‘”ˆ‡†‡”ƒŽ–ƒš‡•‘ ‹…‘‡ǤŠƒ•ƒŽ•‘„‡‡‰”ƒ–‡†–ƒšǦ‡š‡’–•–ƒ–—•Ǥ ‘™‡˜‡”ǡ‹…‘‡ˆ”‘–Š‡—”‡Žƒ–‡†„—•‹‡••ƒ…–‹˜‹–‹‡• ‘ˆ–Š‡ ‘•’‹–ƒŽƒ†–Š‡ ‘—†ƒ–‹‘‹••—„Œ‡…––‘‹…‘‡–ƒš‡•Ǥƒ†ƒ”‡Ž‹‹–‡†Ž‹ƒ„‹Ž‹–›…‘’ƒ‹‡•ƒ†ƒ”‡ –”‡ƒ–‡†ƒ•’ƒ••Ǧ–Š”‘—‰Š‡–‹–‹‡•ˆ‘”ˆ‡†‡”ƒŽ‹…‘‡–ƒš’—”’‘•‡•Ǥ……‘”†‹‰Ž›ǡ‘”‡…‘‰‹–‹‘Šƒ•„‡‡‰‹˜‡–‘ˆ‡†‡”ƒŽ ‹…‘‡–ƒš‡•‹–Š‡ƒ……‘’ƒ›‹‰…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•Ǥ ReclassificationsȂ‡”–ƒ‹ƒ‘—–•‹–Š‡ʹͲͳʹ‘–‡•–‘–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•Šƒ˜‡„‡‡”‡…Žƒ••‹ˆ‹‡† –‘…‘ˆ‘”–‘–Š‡ʹͲͳ͵’”‡•‡–ƒ–‹‘Ǥ

June30, 2013 ‡†‹…ƒ”‡ ‡†‹ǦƒŽ ‘‡”…‹ƒŽƒ†‘–Š‡” ‡Žˆ’ƒ›

2012 ʹͳΨ ͵Ψ ͹ͶΨ ʹΨ

ͳͻΨ ͶΨ ͹͸Ψ ͳΨ

ͳͲͲΨ

ͳͲͲΨ

New accounting pronouncements Ȃ Š‡  ‹••—‡†  –ƒ–‡‡– ‘Ǥ ͸ͳǡ The Financial Reporting Entity: OmnibusȋDz ‘Ǥ͸ͳdzȌǡ™Š‹…Š‹•‡ˆˆ‡…–‹˜‡ˆ‘”ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ˆ‘”’‡”‹‘†•„‡‰‹‹‰ƒˆ–‡” —‡ͳͷǡʹͲͳʹǤ  ‘Ǥ͸ͳ‘†‹ˆ‹‡•…‡”–ƒ‹”‡“—‹”‡‡–•ˆ‘”‹…Ž—•‹‘‘ˆ…‘’‘‡–—‹–•‹–Š‡ˆ‹ƒ…‹ƒŽ”‡’‘”–‹‰‡–‹–›ƒ†ƒ‡†• –Š‡…”‹–‡”‹ƒˆ‘””‡’‘”–‹‰…‘’‘‡–—‹–•ƒ•‹ˆ–Š‡›™‡”‡’ƒ”–‘ˆ–Š‡’”‹ƒ”›‰‘˜‡”‡–ȋ–Šƒ–‹•ǡ„Ž‡†‹‰Ȍ‹…‡”–ƒ‹ …‹”…—•–ƒ…‡•Ǥ –ƒŽ•‘…Žƒ”‹ˆ‹‡•–Š‡”‡’‘”–‹‰‘ˆ‡“—‹–›‹–‡”‡•–•‹Ž‡‰ƒŽŽ›•‡’ƒ”ƒ–‡‘”‰ƒ‹œƒ–‹‘•Ǥ –”‡“—‹”‡•ƒ’”‹ƒ”› ‰‘˜‡”‡––‘”‡’‘”–‹–•‡“—‹–›‹–‡”‡•–‹ƒ…‘’‘‡–—‹–ƒ•ƒƒ••‡–ǤŠ‡‹•–”‹…–Šƒ•ƒ†‘’–‡†–Š‹••–ƒ–‡‡–ˆ‘” –Š‡ˆ‹•…ƒŽ›‡ƒ”‡†‡† —‡͵ͲǡʹͲͳ͵ǡƒ†‹–†‹†‘–Šƒ˜‡ƒ•‹‰‹ˆ‹…ƒ–‡ˆˆ‡…–‘–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•

 Uncollectible accounts Ȃ Š‡ ‘•’‹–ƒŽ ’”‘˜‹†‡• …ƒ”‡ –‘ ’ƒ–‹‡–• ™‹–Š‘—– ”‡“—‹”‹‰ …‘ŽŽƒ–‡”ƒŽ ‘” ‘–Š‡” •‡…—”‹–›Ǥ ƒ–‹‡–…Šƒ”‰‡•‘–…‘˜‡”‡†„›ƒ–Š‹”†Ǧ’ƒ”–›’ƒ›‘”ƒ”‡„‹ŽŽ‡††‹”‡…–Ž›–‘–Š‡’ƒ–‹‡–‹ˆ‹–‹•†‡–‡”‹‡†–Šƒ––Š‡’ƒ–‹‡– Šƒ• –Š‡ ƒ„‹Ž‹–› –‘ ’ƒ›Ǥ  ’”‘˜‹•‹‘ ˆ‘” —…‘ŽŽ‡…–‹„Ž‡ ƒ……‘—–• ‹• ”‡…‘‰‹œ‡† „ƒ•‡† ‘ ƒƒ‰‡‡–ǯ• ‡•–‹ƒ–‡ ‘ˆ ƒ‘—–•–Šƒ–—Ž–‹ƒ–‡Ž›ƒ›„‡—…‘ŽŽ‡…–‹„Ž‡Ǥ

Š‡  ‹••—‡†  –ƒ–‡‡– ‘Ǥ ͸͵ǡ Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position ȋDz  ‘Ǥ ͸͵dzȌǡ ™Š‹…Š ‹• ‡ˆˆ‡…–‹˜‡ ˆ‘” ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–• ˆ‘” ’‡”‹‘†• „‡‰‹‹‰ ƒˆ–‡” ‡…‡„‡” ͳͷǡ ʹͲͳͳǤ Š‡ ”‡“—‹”‡‡–• ‘ˆ  ‘Ǥ ͸͵ ™‹ŽŽ ‹’”‘˜‡ ˆ‹ƒ…‹ƒŽ ”‡’‘”–‹‰ „› •–ƒ†ƒ”†‹œ‹‰ –Š‡ ’”‡•‡–ƒ–‹‘‘ˆ†‡ˆ‡””‡†‘—–ˆŽ‘™•‘ˆ”‡•‘—”…‡•ƒ††‡ˆ‡””‡†‹ˆŽ‘™•‘ˆ”‡•‘—”…‡•ƒ†–Š‡‹”‡ˆˆ‡…–•‘ƒ‰‘˜‡”‡–ǯ• ‡–’‘•‹–‹‘Ǥ –ƒŽŽ‡˜‹ƒ–‡•—…‡”–ƒ‹–›ƒ„‘—–”‡’‘”–‹‰–Š‘•‡ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–‡Ž‡‡–•„›’”‘˜‹†‹‰‰—‹†ƒ…‡™Š‡”‡ ‘‡ ’”‡˜‹‘—•Ž› ‡š‹•–‡†Ǥ ‘—–• –Šƒ– ƒ”‡ ”‡“—‹”‡† –‘ „‡ ”‡’‘”–‡† ƒ• †‡ˆ‡””‡† ‘—–ˆŽ‘™• ‘ˆ ”‡•‘—”…‡• •Š‘—Ž† „‡ ”‡’‘”–‡† ‹ ƒ •–ƒ–‡‡– ‘ˆ ˆ‹ƒ…‹ƒŽ ’‘•‹–‹‘ ‹ ƒ •‡’ƒ”ƒ–‡ •‡…–‹‘ ˆ‘ŽŽ‘™‹‰ ƒ••‡–•Ǥ ‹‹Žƒ”Ž›ǡ ƒ‘—–• –Šƒ– ƒ”‡ ”‡“—‹”‡†–‘„‡”‡’‘”–‡†ƒ•†‡ˆ‡””‡†‹ˆŽ‘™•‘ˆ”‡•‘—”…‡••Š‘—Ž†„‡”‡’‘”–‡†‹ƒ•‡’ƒ”ƒ–‡•‡…–‹‘ˆ‘ŽŽ‘™‹‰Ž‹ƒ„‹Ž‹–‹‡•Ǥ Š‡•–ƒ–‡‡–‘ˆ‡–’‘•‹–‹‘•Š‘—Ž†”‡’‘”–ƒŽŽƒ••‡–•ǡ†‡ˆ‡””‡†‘—–ˆŽ‘™•‘ˆ”‡•‘—”…‡•ǡŽ‹ƒ„‹Ž‹–‹‡•ǡ†‡ˆ‡””‡†‹ˆŽ‘™•‘ˆ ”‡•‘—”…‡•ǡ ƒ† ‡– ’‘•‹–‹‘Ǥ ‡– ’‘•‹–‹‘ ”‡’”‡•‡–• –Š‡ †‹ˆˆ‡”‡…‡ „‡–™‡‡ ƒŽŽ ‘–Š‡” ‡Ž‡‡–• ‹ ƒ •–ƒ–‡‡– ‘ˆ ˆ‹ƒ…‹ƒŽ ’‘•‹–‹‘ ƒ† •Š‘—Ž† „‡ †‹•’Žƒ›‡† ‹ –Š”‡‡ …‘’‘‡–• Ȃ ‡– ‹˜‡•–‡– ‹ …ƒ’‹–ƒŽ ƒ••‡–•Ǣ ”‡•–”‹…–‡† ȋ†‹•–‹‰—‹•Š‹‰„‡–™‡‡ƒŒ‘”…ƒ–‡‰‘”‹‡•‘ˆ”‡•–”‹…–‹‘•ȌǢƒ†—”‡•–”‹…–‡†ǤŠ‡‹•–”‹…–Šƒ•ƒ†‘’–‡†–Š‹••–ƒ–‡‡– ˆ‘” –Š‡ ˆ‹•…ƒŽ ›‡ƒ” ‡†‡† —‡͵Ͳǡ ʹͲͳ͵ǡ ƒ† ‹– †‹† ‘– Šƒ˜‡ ƒ •‹‰‹ˆ‹…ƒ– ‡ˆˆ‡…– ‘ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•

CharitycareȂŠ‡ ‘•’‹–ƒŽ’”‘˜‹†‡•…ƒ”‡–‘’ƒ–‹‡–•™Š‘‡‡–…‡”–ƒ‹…”‹–‡”‹ƒ—†‡”‹–•…Šƒ”‹–›…ƒ”‡’‘Ž‹…›™‹–Š‘—– …Šƒ”‰‡ ‘” ƒ– ƒ‘—–• Ž‡•• –Šƒ ‹–• ‡•–ƒ„Ž‹•Š‡† ”ƒ–‡•Ǥ ‡…ƒ—•‡ –Š‡ ‘•’‹–ƒŽ †‘‡• ‘– ’—”•—‡ …‘ŽŽ‡…–‹‘ ‘ˆ ƒ‘—–• †‡–‡”‹‡†–‘“—ƒŽ‹ˆ›ƒ•…Šƒ”‹–›…ƒ”‡ǡ–Š‡›ƒ”‡‘–”‡’‘”–‡†ƒ•”‡˜‡—‡ǤŠ‡ƒ‘—–‘ˆ‡•–‹ƒ–‡†…‘•–•ˆ‘”•‡”˜‹…‡• ƒ†•—’’Ž‹‡•ˆ—”‹•Š‡†—†‡”–Š‡ ‘•’‹–ƒŽǯ•…Šƒ”‹–›…ƒ”‡’‘Ž‹…›ƒ‰‰”‡‰ƒ–‡†ƒ’’”‘š‹ƒ–‡Ž›̈́ʹǡͶͳ͹ǡͲͲͲƒ†̈́͵ǡͳͷͶǡͲͲͲ ‹ʹͲͳ͵ƒ†ʹͲͳʹǡ”‡•’‡…–‹˜‡Ž›Ǥ PropertytaxrevenueȂŠ‡‹•–”‹…–”‡…‡‹˜‡†ƒ’’”‘š‹ƒ–‡Ž›ͳͺΨ‹ʹͲͳ͵ƒ†ʹ͵Ψ‹ʹͲͳʹ‘ˆ‹–•–‘–ƒŽ‹…”‡ƒ•‡‹‡– ’‘•‹–‹‘ˆ”‘’”‘’‡”–›–ƒš‡•ǤŠ‡•‡ˆ—†•™‡”‡†‡•‹‰ƒ–‡†ƒ•ˆ‘ŽŽ‘™•ǣ June30, 2013 2012 ‡•‹‰ƒ–‡†–‘•—’’‘”–…‘—‹–›„‡‡ˆ‹–’”‘‰”ƒ• ‡•‹‰ƒ–‡†–‘•—’’‘”– ‘•’‹–ƒŽ‡’Žƒ…‡‡–”‘Œ‡…– ‡˜‹‡†ˆ‘”†‡„–•‡”˜‹…‡

̈́͸ǡͷͳͶǡͲͲͲ ̈́ͶǡͶͺ͵ǡͲͲͲ ̈́͹ǡʹ͸͹ǡͲͲͲ

̈́ͷǡͻͲʹǡͲͲͲ ̈́͵ǡ͸ͳͲǡͲͲͲ ̈́͸ǡͻͲͺǡͲͲͲ

Š‡  ƒŽ•‘ ‹••—‡†  –ƒ–‡‡– ‘Ǥ ͸ͷǡ Items Previously Reported as Assets and Liabilities ȋDz  ‘Ǥ ͸ͷdzȌǡ ™Š‹…Š ‹• ‡ˆˆ‡…–‹˜‡ ˆ‘” ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–• ˆ‘” ’‡”‹‘†• „‡‰‹‹‰ ƒˆ–‡” ‡…‡„‡” ͳͷǡ ʹͲͳʹǤ  ‘Ǥ ͸ͷ ‡•–ƒ„Ž‹•Š‡• ƒ……‘—–‹‰ƒ†ˆ‹ƒ…‹ƒŽ”‡’‘”–‹‰•–ƒ†ƒ”†•–Šƒ–”‡…Žƒ••‹ˆ›ǡƒ•†‡ˆ‡””‡†‘—–ˆŽ‘™•‘ˆ”‡•‘—”…‡•‘”†‡ˆ‡””‡†‹ˆŽ‘™•‘ˆ ”‡•‘—”…‡•ǡ …‡”–ƒ‹ ‹–‡• –Šƒ– ™‡”‡ ’”‡˜‹‘—•Ž› ”‡’‘”–‡† ƒ• ƒ••‡–• ƒ† Ž‹ƒ„‹Ž‹–‹‡• ƒ† ”‡…‘‰‹œ‡•ǡ ƒ• ‘—–ˆŽ‘™• ‘ˆ ”‡•‘—”…‡•‘”‹ˆŽ‘™•‘ˆ”‡•‘—”…‡•ǡ…‡”–ƒ‹‹–‡•–Šƒ–™‡”‡’”‡˜‹‘—•Ž›”‡’‘”–‡†ƒ•ƒ••‡–•ƒ†Ž‹ƒ„‹Ž‹–‹‡•Ǥ –ƒŽ•‘’”‘˜‹†‡• ‘–Š‡” ˆ‹ƒ…‹ƒŽ ”‡’‘”–‹‰ ‰—‹†ƒ…‡ ”‡Žƒ–‡† –‘ –Š‡ ‹’ƒ…– ‘ˆ –Š‡ ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡– ‡Ž‡‡–• †‡ˆ‡””‡† ‘—–ˆŽ‘™• ‘ˆ ”‡•‘—”…‡•ƒ††‡ˆ‡””‡†‹ˆŽ‘™•‘ˆ”‡•‘—”…‡•ǡ•—…Šƒ•…Šƒ‰‡•‹–Š‡†‡–‡”‹ƒ–‹‘‘ˆ–Š‡ƒŒ‘”ˆ—†…ƒŽ…—Žƒ–‹‘•ƒ† Ž‹‹–‹‰ –Š‡ —•‡ ‘ˆ –Š‡ –‡” †‡ˆ‡””‡† ‹ ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡– ’”‡•‡–ƒ–‹‘•Ǥ Š‡ ‹•–”‹…– ‹• …—””‡–Ž› ‡˜ƒŽ—ƒ–‹‰ –Š‡ ‹’ƒ…–‘ˆ–Š‡ƒ†‘’–‹‘‘ˆ ‘Ǥ͸ͷˆ‘”–Š‡ˆ‹•…ƒŽ›‡ƒ”‡†‹‰ —‡͵ͲǡʹͲͳͶǤ

 ”‘’‡”–›–ƒš‡•ƒ”‡Ž‡˜‹‡†„›–Š‡‘—–›‘–Š‡‹•–”‹…–ǯ•„‡ŠƒŽˆ‘ ƒ—ƒ”›ͳƒ†ƒ”‡‹–‡†‡†–‘ˆ‹ƒ…‡–Š‡‹•–”‹…–ǯ• ƒ…–‹˜‹–‹‡•‘ˆ–Š‡•ƒ‡…ƒŽ‡†ƒ”›‡ƒ”Ǥ‘—–•Ž‡˜‹‡†ƒ”‡„ƒ•‡†‘ƒ••‡••‡†’”‘’‡”–›˜ƒŽ—‡•ƒ•‘ˆ–Š‡’”‡…‡†‹‰ —Ž›ͳǤ ”‘’‡”–›–ƒš‡•ƒ”‡…‘•‹†‡”‡††‡Ž‹“—‡–‘–Š‡†ƒ›ˆ‘ŽŽ‘™‹‰‡ƒ…Š’ƒ›‡–†—‡†ƒ–‡Ǥ”‘’‡”–›–ƒš‡•ƒ”‡”‡…‘”†‡†ƒ• ‘‘’‡”ƒ–‹‰”‡˜‡—‡„›–Š‡‹•–”‹…–™Š‡–Š‡›ƒ”‡‡ƒ”‡†Ǥ GrantsandcontributionsȂ ”‘–‹‡–‘–‹‡ǡ–Š‡‹•–”‹…–”‡…‡‹˜‡•‰”ƒ–•ƒ•™‡ŽŽƒ•…‘–”‹„—–‹‘•ˆ”‘‹†‹˜‹†—ƒŽ• ƒ†’”‹˜ƒ–‡‘”‰ƒ‹œƒ–‹‘•Ǥ‡˜‡—‡•ˆ”‘‰”ƒ–•ƒ†…‘–”‹„—–‹‘•ƒ”‡”‡…‘‰‹œ‡†™Š‡ƒŽŽ‡Ž‹‰‹„‹Ž‹–›”‡“—‹”‡‡–•ǡ ‹…Ž—†‹‰ –‹‡ ”‡“—‹”‡‡–• ƒ”‡ ‡–Ǥ ”ƒ–• ƒ† …‘–”‹„—–‹‘• ƒ› „‡ ”‡•–”‹…–‡† ˆ‘” ‡‹–Š‡” •’‡…‹ˆ‹… ‘’‡”ƒ–‹‰ ’—”’‘•‡•‘”ˆ‘”…ƒ’‹–ƒŽ’—”’‘•‡•Ǥ‘—–•–Šƒ–ƒ”‡—”‡•–”‹…–‡†‘”–Šƒ–ƒ”‡”‡•–”‹…–‡†–‘ƒ•’‡…‹ˆ‹…‘’‡”ƒ–‹‰’—”’‘•‡ ƒ”‡”‡’‘”–‡†ƒ•‘‘’‡”ƒ–‹‰”‡˜‡—‡•Ǥ

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December 13, 2013 ■ Mountain View Voice ■ MountainViewOnline.com ■

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CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     Š‡  ƒŽ•‘ ‹••—‡†  –ƒ–‡‡– ‘Ǥ ͸ͺǡ Accounting and Financial Reporting for Pensions—an amendment of GASBStatementNo.27ȋDz ‘Ǥ͸ͺdzȌǡ™Š‹…Š‹•‡ˆˆ‡…–‹˜‡ˆ‘”ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ˆ‘”’‡”‹‘†•„‡‰‹‹‰ƒˆ–‡” —‡ͳͷǡ ʹͲͳͶǤ  ‘Ǥ ͸ͺ ”‡’Žƒ…‡• –Š‡ ”‡“—‹”‡‡–• ‘ˆ –ƒ–‡‡– ‘Ǥ ʹ͹ǡ Accounting for Pensions by State and Local Governmental Employersǡ ƒ• ™‡ŽŽ ƒ• –Š‡ ”‡“—‹”‡‡–• ‘ˆ –ƒ–‡‡– ‘Ǥ ͷͲǡ Pension Disclosuresǡ ƒ• –Š‡› ”‡Žƒ–‡ –‘ ’‡•‹‘• –Šƒ– ƒ”‡ ’”‘˜‹†‡† –Š”‘—‰Š ’‡•‹‘ ’Žƒ• ƒ†‹‹•–‡”‡† ƒ• –”—•–• ‘” ‡“—‹˜ƒŽ‡– ƒ””ƒ‰‡‡–• ȋŠ‡”‡ƒˆ–‡” Œ‘‹–Ž›”‡ˆ‡””‡†–‘ƒ•–”—•–•Ȍ–Šƒ–‡‡–…‡”–ƒ‹…”‹–‡”‹ƒǤŠ‡”‡“—‹”‡‡–•‘ˆ–ƒ–‡‡–•ʹ͹ƒ†ͷͲ”‡ƒ‹ƒ’’Ž‹…ƒ„Ž‡ ˆ‘” ’‡•‹‘• –Šƒ– ƒ”‡ ‘– …‘˜‡”‡† „› –Š‡ •…‘’‡ ‘ˆ –Š‹• –ƒ–‡‡–Ǥ – ‡•–ƒ„Ž‹•Š‡• •–ƒ†ƒ”†• ˆ‘” ‡ƒ•—”‹‰ ƒ† ”‡…‘‰‹œ‹‰Ž‹ƒ„‹Ž‹–‹‡•ǡ†‡ˆ‡””‡†‘—–ˆŽ‘™•‘ˆ”‡•‘—”…‡•ǡƒ††‡ˆ‡””‡†‹ˆŽ‘™•‘ˆ”‡•‘—”…‡•ǡƒ†‡š’‡•‡Ȁ‡š’‡†‹–—”‡•Ǥ ‘”†‡ˆ‹‡†„‡‡ˆ‹–’‡•‹‘•ǡ–Š‹•–ƒ–‡‡–‹†‡–‹ˆ‹‡•–Š‡‡–Š‘†•ƒ†ƒ••—’–‹‘•–Šƒ–•Š‘—Ž†„‡—•‡†–‘’”‘Œ‡…– „‡‡ˆ‹– ’ƒ›‡–•ǡ †‹•…‘—– ’”‘Œ‡…–‡† „‡‡ˆ‹– ’ƒ›‡–• –‘ –Š‡‹” ƒ…–—ƒ”‹ƒŽ ’”‡•‡– ˜ƒŽ—‡ǡ ƒ† ƒ––”‹„—–‡ –Šƒ– ’”‡•‡– ˜ƒŽ—‡–‘’‡”‹‘†•‘ˆ‡’Ž‘›‡‡•‡”˜‹…‡Ǥ‘–‡†‹•…Ž‘•—”‡ƒ†”‡“—‹”‡†•—’’Ž‡‡–ƒ”›‹ˆ‘”ƒ–‹‘”‡“—‹”‡‡–•ƒ„‘—– ’‡•‹‘• ƒŽ•‘ ƒ”‡ ƒ††”‡••‡†Ǥ Š‡ ‹•–”‹…– ‹• …—””‡–Ž› ‡˜ƒŽ—ƒ–‹‰ –Š‡ ‹’ƒ…– ‘ˆ –Š‡ ƒ†‘’–‹‘ ‘ˆ  ‘Ǥ ͸ͺ ˆ‘” –Š‡ ˆ‹•…ƒŽ›‡ƒ”‡†‹‰ —‡͵ͲǡʹͲͳͷǤ Š‡  ƒŽ•‘ ‹••—‡†  –ƒ–‡‡– ‘Ǥ ͸ͻǡ Government Combinations and Disposals of Government Operations ȋDz ‘Ǥ͸ͻdzȌǡ™Š‹…Š‹•‡ˆˆ‡…–‹˜‡ˆ‘”ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ˆ‘”’‡”‹‘†•„‡‰‹‹‰ƒˆ–‡”‡…‡„‡”ͳͷǡʹͲͳ͵Ǥ ‘Ǥ ͸ͻ ”‡“—‹”‡• –Š‡ —•‡ ‘ˆ …ƒ””›‹‰ ˜ƒŽ—‡• –‘ ‡ƒ•—”‡ –Š‡ ƒ••‡–• ƒ† Ž‹ƒ„‹Ž‹–‹‡• ‹ ƒ ‰‘˜‡”‡– ‡”‰‡”Ǥ ‘˜‡”•‡Ž›ǡ ‰‘˜‡”‡– ƒ…“—‹•‹–‹‘• ƒ”‡ –”ƒ•ƒ…–‹‘• ‹ ™Š‹…Š ƒ ‰‘˜‡”‡– ƒ…“—‹”‡• ƒ‘–Š‡” ‡–‹–›ǡ ‘” ‹–• ‘’‡”ƒ–‹‘•ǡ ‹ ‡š…Šƒ‰‡ ˆ‘” •‹‰‹ˆ‹…ƒ– …‘•‹†‡”ƒ–‹‘Ǥ Š‹• –ƒ–‡‡– ”‡“—‹”‡• ‡ƒ•—”‡‡–• ‘ˆ ƒ••‡–• ƒ…“—‹”‡† ƒ† Ž‹ƒ„‹Ž‹–‹‡• ƒ••—‡†‰‡‡”ƒŽŽ›–‘„‡„ƒ•‡†—’‘–Š‡‹”ƒ…“—‹•‹–‹‘˜ƒŽ—‡•Ǥ –ƒŽ•‘’”‘˜‹†‡•‰—‹†ƒ…‡ˆ‘”–”ƒ•ˆ‡”•‘ˆ‘’‡”ƒ–‹‘•–Šƒ– †‘‘–…‘•–‹–—–‡‡–‹”‡Ž‡‰ƒŽŽ›•‡’ƒ”ƒ–‡‡–‹–‹‡•ƒ†‹™Š‹…Š‘•‹‰‹ˆ‹…ƒ–…‘•‹†‡”ƒ–‹‘‹•‡š…Šƒ‰‡†Ǥ –†‡ˆ‹‡•–Š‡ –‡”operationsˆ‘”’—”’‘•‡•‘ˆ†‡–‡”‹‹‰–Š‡ƒ’’Ž‹…ƒ„‹Ž‹–›‘ˆ–Š‹•–ƒ–‡‡–ƒ†”‡“—‹”‡•–Š‡—•‡‘ˆ…ƒ””›‹‰˜ƒŽ—‡• –‘ ‡ƒ•—”‡ –Š‡ ƒ••‡–• ƒ† Ž‹ƒ„‹Ž‹–‹‡• ‹ ƒ –”ƒ•ˆ‡” ‘ˆ ‘’‡”ƒ–‹‘•ǡ ƒ† ’”‘˜‹†‡• ƒ……‘—–‹‰ ƒ† ˆ‹ƒ…‹ƒŽ ”‡’‘”–‹‰ ‰—‹†ƒ…‡ ˆ‘” †‹•’‘•ƒŽ• ‘ˆ ‰‘˜‡”‡– ‘’‡”ƒ–‹‘• –Šƒ– Šƒ˜‡ „‡‡ –”ƒ•ˆ‡””‡† ‘” •‘Ž†Ǥ Š‡ ‹•–”‹…– ‹• …—””‡–Ž› ‡˜ƒŽ—ƒ–‹‰–Š‡‹’ƒ…–‘ˆ–Š‡ƒ†‘’–‹‘‘ˆ ‘Ǥ͸ͻˆ‘”–Š‡ˆ‹•…ƒŽ›‡ƒ”‡†‹‰ —‡͵ͲǡʹͲͳͷǤ NOTE2–OPERATINGREVENUES Š‡ˆ‘ŽŽ‘™‹‰–ƒ„Ž‡”‡ˆŽ‡…–•–Š‡’‡”…‡–ƒ‰‡‘ˆ‡–’ƒ–‹‡–”‡˜‡—‡•„›ƒŒ‘”’ƒ›‘”‰”‘—’ˆ‘”–Š‡›‡ƒ”•‡†‡† —‡͵Ͳǣ 2013 ‡†‹…ƒ”‡ ‘‡”…‹ƒŽƒ†‘–Š‡” ‡†‹Ǧ…ƒŽ

2012 ʹͷΨ ͹͵Ψ ʹΨ

ʹͶΨ ͹ͶΨ ʹΨ

ͳͲͲΨ

ͳͲͲΨ

ELCAMINOHEALTHCAREDISTRICT NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS    

’ƒ–‹‡–ƒ…—–‡…ƒ”‡•‡”˜‹…‡•”‡†‡”‡†–‘‡†‹…ƒ”‡’”‘‰”ƒ„‡‡ˆ‹…‹ƒ”‹‡•ƒ”‡’ƒ‹†ƒ–’”‘•’‡…–‹˜‡Ž›†‡–‡”‹‡†”ƒ–‡• ’‡” †‹•…Šƒ”‰‡Ǥ Š‡•‡ ”ƒ–‡• ˜ƒ”› ƒ……‘”†‹‰ –‘ ƒ ’ƒ–‹‡– …Žƒ••‹ˆ‹…ƒ–‹‘ •›•–‡ „ƒ•‡† ‘ …Ž‹‹…ƒŽǡ †‹ƒ‰‘•–‹…ǡ ƒ† ‘–Š‡” ˆƒ…–‘”•Ǥ ’ƒ–‹‡–•‡”˜‹…‡•ƒ”‡’ƒ‹†ƒ–’”‘•’‡…–‹˜‡Ž›†‡–‡”‹‡†”ƒ–‡•’‡”†‹•…Šƒ”‰‡Ǥƒ›‡–•ˆ‘”‘—–’ƒ–‹‡–•‡”˜‹…‡• ƒ”‡„ƒ•‡†‘ƒ•–‹’—Žƒ–‡†ƒ‘—–’‡”’”‘…‡†—”‡ǤŠ‡‹•–”‹…–‹•”‡‹„—”•‡†ˆ‘”…‘•–”‡‹„—”•ƒ„Ž‡‹–‡•ƒ–ƒ–‡–ƒ–‹˜‡ ”ƒ–‡ǡ™‹–Šˆ‹ƒŽ•‡––Ž‡‡–•†‡–‡”‹‡†ƒˆ–‡”•—„‹••‹‘‘ˆƒ—ƒŽ…‘•–”‡’‘”–•„›–Š‡‹•–”‹…–ƒ†ƒ—†‹–•–Š‡”‡‘ˆ„› –Š‡‡†‹…ƒ”‡ˆ‹•…ƒŽ‹–‡”‡†‹ƒ”›ǤŠ‡‡ˆˆ‡…–‘ˆ—’†ƒ–‹‰’”‹‘”›‡ƒ”‡•–‹ƒ–‡•ˆ‘”‡†‹…ƒ”‡ƒ†‘–Š‡”Ž‹ƒ„‹Ž‹–‹‡•™ƒ•–‘ ‹…”‡ƒ•‡ʹͲͳ͵ƒ†ʹͲͳʹ‡–‘’‡”ƒ–‹‰‹…‘‡„›̈́ʹǡ͸ͷͲǡͲͲͲƒ†̈́͹ǡͻͻʹǡͲͲͲǡ”‡•’‡…–‹˜‡Ž›ǤŠ‡ ‘•’‹–ƒŽǯ•…‘•–”‡’‘”–• Šƒ˜‡„‡‡ƒ—†‹–‡†„›–Š‡‡†‹…ƒ”‡ˆ‹•…ƒŽ‹–‡”‡†‹ƒ”›–Š”‘—‰Š —‡͵ͲǡʹͲͲ͹Ǥ ‡†‹ǦƒŽƒ†…‘–”ƒ…–‡†”ƒ–‡’ƒ›‘”•ƒ”‡’ƒ‹†‘ƒ’‡”…‡–ƒ‰‡‘ˆ…Šƒ”‰‡•ǡ’‡”†‹‡ǡ’‡”†‹•…Šƒ”‰‡ǡˆ‡‡•…Š‡†—Ž‡ǡ‘”ƒ …‘„‹ƒ–‹‘‘ˆ–Š‡•‡‡–Š‘†•Ǥ ƒ™•ƒ†”‡‰—Žƒ–‹‘•‰‘˜‡”‹‰–Š‡‡†‹…ƒ”‡ƒ†‡†‹ǦƒŽ’”‘‰”ƒ•ƒ”‡…‘’Ž‡šƒ†ƒ”‡•—„Œ‡…––‘‹–‡”’”‡–ƒ–‹‘Ǥ •ƒ”‡•—Ž–ǡ–Š‡”‡‹•ƒ–Ž‡ƒ•–ƒ”‡ƒ•‘ƒ„Ž‡’‘••‹„‹Ž‹–›–Šƒ–”‡…‘”†‡†‡•–‹ƒ–‡•™‹ŽŽ…Šƒ‰‡‹–Š‡‡ƒ”–‡”Ǥ

…Ž—†‡† ‹ ‘–Š‡” ”‡˜‡—‡ ƒ”‡ ƒ‘—–• ˆ”‘ ‹˜‡•–‡–• ‹ Š‡ƒŽ–ŠǦ”‡Žƒ–‡† ƒ…–‹˜‹–‹‡•ǡ ”‡–ƒŽ ‹…‘‡ǡ …ƒˆ‡–‡”‹ƒǡ ƒ† ‘–Š‡”‘’ƒ–‹‡–…ƒ”‡”‡˜‡—‡Ǥ NOTE3–CASHDEPOSITS – —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǡ‹•–”‹…–…ƒ•Š†‡’‘•‹–•Šƒ†…ƒ””›‹‰ƒ‘—–•‘ˆ̈́ͷͳǡʹͷͻǡͲͲͲƒ†̈́Ͷʹǡ͵͵ͶǡͲͲͲǡ”‡•’‡…–‹˜‡Ž›ǡ ƒ†„ƒ„ƒŽƒ…‡•‘ˆ̈́ͷͷǡ͹ͺͲǡͲͲͲƒ†̈́Ͷ͹ǡͳͳ͸ǡͲͲͲǡ”‡•’‡…–‹˜‡Ž›ǤŽŽ‘ˆ–Š‡•‡ˆ—†•™‡”‡Š‡Ž†‹…ƒ•Š†‡’‘•‹–•ǡ™Š‹…Š ƒ”‡ …‘ŽŽƒ–‡”ƒŽ‹œ‡† ™‹–Š –Š‡ ƒŽ‹ˆ‘”‹ƒ ‘˜‡”‡– ‘†‡ ȋDz dzȌǡ ‡š…‡’– ˆ‘” ̈́ʹͷͲǡͲͲͲ ’‡” ƒ……‘—– –Šƒ– ‹• ˆ‡†‡”ƒŽŽ› ‹•—”‡†„›–Š‡ ‡†‡”ƒŽ‡’‘•‹– •—”ƒ…‡‘”’‘”ƒ–‹‘ȋDz  dzȌǤ Š‡ ‹•–”‹…– ’ƒ”–‹…‹’ƒ–‡• ‹ ƒ …ƒ•Š ƒƒ‰‡‡– ’”‘‰”ƒ ’”‘˜‹†‡† „› ‹–• ’”‹ƒ”› †‡’‘•‹–‘”› ‹•–‹–—–‹‘ –Šƒ– ƒŽŽ‘™• …ƒ•Š ‹ ‹•–”‹…–…‘…‡–”ƒ–‹‘ ƒ……‘—–• –‘ „‡ •™‡’–†ƒ‹Ž› ƒ† ‹˜‡•–‡†‘˜‡”‹‰Š– ‹ ”‡˜‡”•‡ ”‡’—”…Šƒ•‡ ƒ‰”‡‡‡–• –Šƒ– ƒ”‡ ‘– ‡š’‘•‡† –‘ …—•–‘†‹ƒŽ …”‡†‹– ”‹• „‡…ƒ—•‡ –Š‡ —†‡”Ž›‹‰ •‡…—”‹–‹‡• ƒ”‡ Š‡Ž† „› –Š‡ „—›‡”ǦŽ‡†‡”Ǥ – —‡͵Ͳǡ ʹͲͳ͵ ƒ† ʹͲͳʹǡ „ƒŽƒ…‡• ‹ ”‡’—”…Šƒ•‡ ƒ‰”‡‡‡–• Šƒ† „ƒ „ƒŽƒ…‡• ‘ˆ ̈́ͷͶǡͶ͹ͶǡͲͲͲ ƒ† ̈́ͶͶǡͻͷͺǡͲͲͲǡ ”‡•’‡…–‹˜‡Ž›ǡƒ†ƒ”‡‹…Ž—†‡†‹–Š‡…ƒ””›‹‰ƒ‘—–•ƒ„‘˜‡Ǥ

 Š‡ ‘•’‹–ƒŽŠƒ•ƒ‰”‡‡‡–•™‹–Š–Š‹”†Ǧ’ƒ”–›’ƒ›‘”•–Šƒ–’”‘˜‹†‡ˆ‘”’ƒ›‡–•–‘–Š‡ ‘•’‹–ƒŽƒ–ƒ‘—–•†‹ˆˆ‡”‡– ˆ”‘‹–•‡•–ƒ„Ž‹•Š‡†”ƒ–‡•Ǥƒ›‡–ƒ””ƒ‰‡‡–•‹…Ž—†‡’”‘•’‡…–‹˜‡Ž›†‡–‡”‹‡†”ƒ–‡•’‡”†‹•…Šƒ”‰‡ǡ”‡‹„—”•‡† …‘•–•ǡ†‹•…‘—–‡†…Šƒ”‰‡•ǡˆ‡‡•…Š‡†—Ž‡•ǡ’”‡’ƒ‹†’ƒ›‡–•’‡”‡„‡”ǡƒ†’‡”†‹‡’ƒ›‡–•‘”ƒ…‘„‹ƒ–‹‘‘ˆ –Š‡•‡‡–Š‘†•Ǥ‡–’ƒ–‹‡–•‡”˜‹…‡”‡˜‡—‡‹•”‡’‘”–‡†ƒ––Š‡‡•–‹ƒ–‡†‡–”‡ƒŽ‹œƒ„Ž‡ƒ‘—–•ˆ”‘’ƒ–‹‡–•ǡ–Š‹”†Ǧ ’ƒ”–› ’ƒ›‘”•ǡ ƒ† ‘–Š‡”• ˆ‘” •‡”˜‹…‡• ”‡†‡”‡†ǡ ‹…Ž—†‹‰ ‡•–‹ƒ–‡† •‡––Ž‡‡–• —†‡” ”‡‹„—”•‡‡– ƒ‰”‡‡‡–• ™‹–Š–Š‹”†Ǧ’ƒ”–›’ƒ›‘”•Ǥ

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■ Mountain View Voice ■ MountainViewOnline.com ■ December 13, 2013


CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     NOTE4–BOARDǦDESIGNATED,RESTRICTEDFUNDSANDINVESTMENTS NOTE4–BOARDǦDESIGNATED,RESTRICTEDFUNDSANDINVESTMENTS

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     CreditriskȂ‹•–”‹…–‹˜‡•–‡–’‘Ž‹…‹‡•”‡“—‹”‡ˆ‹š‡†‹…‘‡‹˜‡•–‡–•–‘Šƒ˜‡ƒ‹‹—‘ˆͺͷΨ‘ˆƒ‘‡› ƒƒ‰‡”ǯ• ƒ••‡–• ‹ ‹˜‡•–‡– ‰”ƒ†‡ ƒ••‡–•Ǥ Š‡ ‹˜‡•–‡– ’‘Ž‹…› ”‡“—‹”‡• ‹˜‡•–‡– ƒƒ‰‡”• ƒ‹–ƒ‹ ƒ ƒ˜‡”ƒ‰‡‘ˆǦ‘”Š‹‰Š‡””ƒ–‹‰•ƒ•‹••—‡†„›ƒƒ–‹‘ƒŽŽ›”‡…‘‰‹œ‡†”ƒ–‹‰‘”‰ƒ‹œƒ–‹‘Ǥ††‹–‹‘ƒŽŽ›ǡ–Š‡‹˜‡•–‡– ’‘Ž‹…› ”‡“—‹”‡• ‘ ‘”‡ –Šƒ ͷΨ ‘ˆ ƒ ‘‡› ƒƒ‰‡”ǯ• ’‘”–ˆ‘Ž‹‘ ƒ– –Š‡ –‹‡ ‘ˆ ’—”…Šƒ•‡ •ŠƒŽŽ „‡ ‹˜‡•–‡† ‹ –Š‡ •‡…—”‹–‹‡•‘ˆƒ›‘‡‹••—‡”ǡ™‹–Š–Š‡‡š…‡’–‹‘‘ˆƒ‹–‡†–ƒ–‡•‰‘˜‡”‡–ƒ‰‡…›ǡƒ‰‡…›‘”‘–Š‡”‘˜‡”‡‹‰ ‹••—‡•”ƒ–‡†‘”ƒƒǤ

‘ƒ”†Ǧ†‡•‹‰ƒ–‡† ˆ—†•ǡ •Š‘”–Ǧ–‡” ‹˜‡•–‡–•ǡ …‘ŽŽ‡…–‹˜‡Ž›ǡ ƒ• ‘ˆ ʹͲͳ͵ʹͲͳ͵ ƒ† ʹͲͳʹǡ ‘ƒ”†Ǧ†‡•‹‰ƒ–‡† ˆ—†•ǡ”‡•–”‹…–‡† ”‡•–”‹…–‡†ˆ—†•ǡ ˆ—†•ǡƒ† ƒ† •Š‘”–Ǧ–‡” ‹˜‡•–‡–•ǡ …‘ŽŽ‡…–‹˜‡Ž›ǡ ƒ• —‡͵Ͳǡ ‘ˆ —‡͵Ͳǡ ƒ† ʹͲͳʹǡ …‘’”‹•‡†–Š‡ˆ‘ŽŽ‘™‹‰ȋ‹–Š‘—•ƒ†•Ȍǣ …‘’”‹•‡†–Š‡ˆ‘ŽŽ‘™‹‰ȋ‹–Š‘—•ƒ†•Ȍǣ

2013 2013 ƒ•Šƒ†…ƒ•Š‡“—‹˜ƒŽ‡–• ƒ•Šƒ†…ƒ•Š‡“—‹˜ƒŽ‡–• —–—ƒŽˆ—†• —–—ƒŽˆ—†• “—‹–‹‡• “—‹–‹‡•  ‹š‡†‹…‘‡•‡…—”‹��‹‡•  ‹š‡†‹…‘‡•‡…—”‹–‹‡•

Amortized Amortized Costs Costs

Carrying Carrying ValueValue

GrossUnrealized GrossUnrealized Gains Losses Gains Losses

̈́ ͳͻǡͲͲͺ ̈́ ͳͻǡͲͲͺ  ͳ͹ͶǡͶͲͲ  ͳ͹ͶǡͶͲͲ  ͵ͳǡ͵͹͵  ͵ͳǡ͵͹͵ ͵ʹͲǡ͹Ͳ͸ ͵ʹͲǡ͹Ͳ͸ ̈́ͷͶͷǡͶͺ͹ ̈́ͷͶͷǡͶͺ͹

̈́ Ǧ Ǧ ̈́  ͻǡ͵͸ͺ  ͻǡ͵͸ͺ  ͺǡͳͳ͵  ͺǡͳͳ͵ ͶǡͶ͸ͻ ͶǡͶ͸ͻ ̈́ʹͳǡͻͷͲ ̈́ʹͳǡͻͷͲ

̈́ Ǧ Ǧ ̈́  Ǧ Ǧ   ȋͳǡͶ͵ͲȌ  ȋͳǡͶ͵ͲȌ ȋͷǡ͵ͻͲȌ ȋͷǡ͵ͻͲȌ ̈́ȋ͸ǡͺʹͲȌ ̈́ȋ͸ǡͺʹͲȌ

̈́ ͳͻǡͲͲͺ ̈́ ͳͻǡͲͲͺ  ͳͺ͵ǡ͹͸ͺ  ͳͺ͵ǡ͹͸ͺ  ͵ͺǡͲͷ͸  ͵ͺǡͲͷ͸ ͵ͳͻǡ͹ͺͷ ͵ͳͻǡ͹ͺͷ ̈́ͷ͸Ͳǡ͸ͳ͹ ̈́ͷ͸Ͳǡ͸ͳ͹

̈́ͻǡͷ͵Ͷ ̈́Ǧ ̈́Ǧ ̈́͵ʹͷ ͻǡͷ͵Ͷ ̈́ ̈́   Ǧ Ǧ  Ǧ Ǧ  ͵ʹͷ  Ǧ  ͷͶǡͳͳͺ ͹ǡͶʹͲ  ȋ͹ǡͲ͸͸ȌǦ  ͷͶǡͳͳͺ  ͹ǡͶʹͲ   ȋ͹ǡͲ͸͸Ȍ  ͵ͺ͵ǡͷ͵͸  ͳͷǡͺͷͶ ȋͳǡͳ͹͵Ȍ ͵ͺ͵ǡͷ͵͸ ͳͷǡͺͷͶ ȋͳǡͳ͹͵Ȍ ̈́ͶͶ͹ǡͷͳ͵ ̈́ʹ͵ǡʹ͹Ͷ ̈́ȋͺǡʹ͵ͻȌ ̈́ͶͶ͹ǡͷͳ͵ ̈́ʹ͵ǡʹ͹Ͷ ̈́ȋͺǡʹ͵ͻȌ – —‡͵ͲǡʹͲͳ͵ǡ‹˜‡•–‡–„ƒŽƒ…‡•ƒ†ƒ˜‡”ƒ‰‡ƒ–—”‹–‹‡•™‡”‡ƒ•ˆ‘ŽŽ‘™•ǣ

̈́ͻǡͷ͵Ͷ ̈́  ͵ʹͷͻǡͷ͵Ͷ   ͷͶǡͶ͹ʹ ͵ʹͷ  ͷͶǡͶ͹ʹ  ͵ͻͺǡʹͳ͹ ͵ͻͺǡʹͳ͹ ̈́Ͷ͸ʹǡͷͶͺ ̈́Ͷ͸ʹǡͷͶͺ 

2012 2012 ƒ•Šƒ†…ƒ•Š‡“—‹˜ƒŽ‡–• ƒ•Šƒ†…ƒ•Š‡“—‹˜ƒŽ‡–• —–—ƒŽˆ—†• —–—ƒŽˆ—†• “—‹–‹‡• “—‹–‹‡•  ‹š‡†‹…‘‡•‡…—”‹–‹‡•  ‹š‡†‹…‘‡•‡…—”‹–‹‡•

– —‡͵ͲǡʹͲͳ͵ǡ‹˜‡•–‡–„ƒŽƒ…‡•ƒ†ƒ˜‡”ƒ‰‡ƒ–—”‹–‹‡•™‡”‡ƒ•ˆ‘ŽŽ‘™•ǣ InvestmentType

InvestmentType Š‘”–Ǧ–‡”‘‡›ƒ”‡– —–—ƒŽˆ—†• Š‘”–Ǧ–‡”‘‡›ƒ”‡–

‘˜‡”‡–ƒ†ƒ‰‡…‹‡• —–—ƒŽˆ—†• ‘”’‘”ƒ–‡„‘†•

‘˜‡”‡–ƒ†ƒ‰‡…‹‡• ‘‡•–‹…ˆ‹š‡†‹…‘‡ ‘”’‘”ƒ–‡„‘†• ‘”‡‹‰ˆ‹š‡†‹…‘‡

‘‡•–‹…ˆ‹š‡†‹…‘‡ ‘”‡‹‰ˆ‹š‡†‹…‘‡ “—‹–‹‡• ‘–ƒŽˆƒ‹”˜ƒŽ—‡ “—‹–‹‡•

FairValue (inthousands) FairValue

Lessthan1

InvestmentMaturities(inyears) 1to5 6to10 InvestmentMaturities(inyears)

Lessthan1 ̈́ ͳͻǡͲͲͺ ͳͺ͵ǡ͹͸ͺ ̈́ͳͻǡͲͲͺ ͳͻǡͲͶͷ ͳͺ͵ǡ͹͸ͺ ͹ǡͲͻͳ ͳͻǡͲͶͷ Ǧ Ǧ͹ǡͲͻͳ 

1to5 ̈́ Ǧ Ǧ ̈́Ǧ ͸Ͷǡͺͺͳ Ǧ ͺʹǡʹͻ͸ ͸Ͷǡͺͺͳ ͳ͹ǡͲ͹Ͷ  ͺʹǡʹͻ͸ ͷǡ͹ͺͻ

 ͷʹʹǡͷ͸ͳ  ͻǡͺͳͶ ͵ͺǡͲͷ͸

̈́ ʹʹͺǡͻͳʹǦ 

̈́ ͳ͹ͲǡͲͶͲ ͵͹ǡ͹ͻͺʹǡ͸ͺ͸ ̈́ ͺͷǡͺͳͳ ͳǡ͵͵ͻ  ͷǡ͹ͺͻ ̈́  

ͷʹʹǡͷ͸ͳ ̈́ͷ͸Ͳǡ͸ͳ͹ ͵ͺǡͲͷ͸

Ǧ

̈́ ʹʹͺǡͻͳʹ

ͳ͹ǡͲ͹Ͷ

̈́ ͳ͹ͲǡͲͶͲ

ͻǡͻͳͶ

̈́͵͹ǡ͹ͻͺ

AlternativeinvestmentsriskȂŠ‡‹•–”‹…–ǯ•ƒŽ–‡”ƒ–‹˜‡‹˜‡•–‡–•‹…Ž—†‡‘™‡”•Š‹’‹–‡”‡•–‹ƒ™‹†‡˜ƒ”‹‡–›‘ˆ ’ƒ”–‡”•Š‹’ƒ†ˆ—†•–”—…–—”‡•–Šƒ–ƒ›„‡†‘‡•–‹…‘”‘ˆˆ•Š‘”‡Ǥ ‡‡”ƒŽŽ›ǡ–Š‡”‡‹•Ž‹––Ž‡‘”‘”‡‰—Žƒ–‹‘‘ˆ–Š‡•‡ ‹˜‡•–‡–•„›–Š‡‡…—”‹–‹‡•ƒ†š…Šƒ‰‡‘‹••‹‘‘”ǤǤ•–ƒ–‡ƒ––‘”‡›•‰‡‡”ƒŽǤŠ‡•‡‹˜‡•–‡–•‡’Ž‘›ƒ ™‹†‡ ˜ƒ”‹‡–› ‘ˆ •–”ƒ–‡‰‹‡• ‹…Ž—†‹‰ ƒ„•‘Ž—–‡ ”‡–—”ǡ Š‡†‰‡ǡ ˜‡–—”‡ …ƒ’‹–ƒŽǡ ’”‹˜ƒ–‡ ‡“—‹–› ƒ† ‘–Š‡” •–”ƒ–‡‰‹‡•Ǥ

˜‡•–‡–• ‹ –Š‹• …ƒ–‡‰‘”› ƒ› ‡’Ž‘› Ž‡˜‡”ƒ‰‡ –‘ ‡Šƒ…‡ –Š‡ ‹˜‡•–‡– ”‡–—”Ǥ Š‡ ‹•–”‹…–ǯ• Š‘Ž†‹‰• …ƒ ‹…Ž—†‡ ˆ‹ƒ…‹ƒŽ ƒ••‡–• •—…Š ƒ• ƒ”‡–ƒ„Ž‡ •‡…—”‹–‹‡•ǡ ‘Ǧƒ”‡–ƒ„Ž‡ •‡…—”‹–‹‡•ǡ †‡”‹˜ƒ–‹˜‡•ǡ ƒ† •›–Š‡–‹… ƒ† •–”—…–—”‡†‹•–”—‡–•Ǣ”‡ƒŽƒ••‡–•Ǣ–ƒ‰‹„Ž‡ƒ†‹–ƒ‰‹„Ž‡ƒ••‡–•Ǣƒ†‘–Š‡”ˆ—†•ƒ†’ƒ”–‡”•Š‹’•Ǥ ‡‡”ƒŽŽ›–Š‡•‡ ‹˜‡•–‡–• †‘ ‘– Šƒ˜‡ ƒ ”‡ƒ†› ƒ”‡–Ǥ –‡”‡•– ‹ –Š‡•‡ ‹˜‡•–‡–• ƒ› ‘– „‡ –”ƒ†‡† ™‹–Š‘—– ƒ’’”‘˜ƒŽ ‘ˆ –Š‡ ‰‡‡”ƒŽ’ƒ”–‡”‘”ˆ—†ƒƒ‰‡‡–Ǥ Ž–‡”ƒ–‹˜‡ ‹˜‡•–‡–• ƒ”‡ •—„Œ‡…– –‘ ƒŽŽ ‘ˆ –Š‡ ”‹•• †‡•…”‹„‡† ’”‡˜‹‘—•Ž› ”‡Žƒ–‹‰ –‘ ‡“—‹–‹‡• ƒ† ˆ‹š‡† ‹…‘‡ ‹•–”—‡–•Ǥ ƒ††‹–‹‘ǡƒŽ–‡”ƒ–‹˜‡•–”ƒ–‡‰‹‡•ƒ†–Š‡‹”—†‡”Ž›‹‰ƒ••‡–•ƒ†”‹‰Š–•ƒ”‡•—„Œ‡…––‘ƒ„”‘ƒ†ƒ””ƒ›‘ˆ ‡…‘‘‹…ƒ† ƒ”‡– ˜ƒ‰ƒ”‹‡• –Šƒ–…ƒ Ž‹‹– ‘” ‡”‘†‡ ˜ƒŽ—‡Ǥ Š‡ —†‡”Ž›‹‰ ƒ••‡–• ƒ› ‘– „‡Š‡Ž† „› ƒ…—•–‘†‹ƒ ‡‹–Š‡”„‡…ƒ—•‡–Š‡›…ƒ‘–„‡ǡ‘”„‡…ƒ—•‡–Š‡‡–‹–›Šƒ•…Š‘•‡‘––‘Š‘Ž†–Š‡‹–Š‹•ˆ‘”ǤƒŽ—ƒ–‹‘†‡–‡”‹‡† „› –Š‡ ‹˜‡•–‡– ƒƒ‰‡”ǡ ™Š‘ Šƒ• ƒ …‘ˆŽ‹…– ‘ˆ ‹–‡”‡•– ‹ –Šƒ– Š‡ ‘” •Š‡ ‹• …‘’‡•ƒ–‡† ˆ‘” ’‡”ˆ‘”ƒ…‡ ƒ”‡ …‘•‹†‡”‡† ƒ† ”‡˜‹‡™‡† „› –Š‡ ‹•–”‹…–ǯ• ˜‡•–‡– ‘‹––‡‡ ƒ† –Š‡ ‘ƒ”† ‘ˆ ‹”‡…–‘”•Ǥ ‡ƒŽ ƒ••‡–• ƒ› „‡ •—„Œ‡…––‘’Š›•‹…ƒŽ†ƒƒ‰‡ˆ”‘ƒ˜ƒ”‹‡–›‘ˆ‡ƒ•ǡŽ‘••ˆ”‘ƒ–—”ƒŽ…ƒ—•‡•ǡ–Š‡ˆ–‘ˆƒ••‡–•ǡŽƒ™•—‹–•‹˜‘Ž˜‹‰”‹‰Š–• ƒ†‘–Š‡”Ž‘••ƒ††ƒƒ‰‡‹…Ž—†‹‰‘”–‰ƒ‰‡ˆ‘”‡…Ž‘•—”‡”‹•ǤŠ‡•‡”‹••ƒ›‘–„‡‹•—”‡†‘”‹•—”ƒ„Ž‡Ǥƒ‰‹„Ž‡ ƒ••‡–•ƒ”‡•—„Œ‡…––‘Ž‘••ˆ”‘–Š‡ˆ–ƒ†‘–Š‡”…”‹‹ƒŽƒ…–‹‘•ƒ†ˆ”‘ƒ–—”ƒŽ•Ǥ –ƒ‰‹„Ž‡ƒ••‡–•ƒ”‡•—„Œ‡…––‘Ž‡‰ƒŽ …ŠƒŽŽ‡‰‡ƒ†‘–Š‡”’‘••‹„Ž‡‹’ƒ‹”‡–Ǥ



Morethan10

(inthousands) ̈́ ͳͻǡͲͲͺ ͳͺ͵ǡ͹͸ͺ ̈́ͳͻǡͲͲͺ ͺͻǡͲ͵͸ ͳͺ͵ǡ͹͸ͺ ͳʹͲǡͷͺͶ ͺͻǡͲ͵͸ ͳͲͲǡ͵ͷͳ  ͳʹͲǡͷͺͶ  ͻǡͺͳͶ

ͳͲͲǡ͵ͷͳ

6to10 ̈́ Ǧ Ǧ ̈́Ǧ Ͷǡʹ͵ͻ Ǧ ʹͲǡͻͷͻ Ͷǡʹ͵ͻ ͻǡͻͳͶ  ʹͲǡͻͷͻ ʹǡ͸ͺ͸

ForeigncurrencyriskȂŠ‡‹•–”‹…–ǯ•‹˜‡•–‡–’‘Ž‹…›’‡”‹–•‹––‘‹˜‡•–—’–‘͵ͲΨ‘ˆ–‘–ƒŽ‹˜‡•–‡–‹ˆ‘”‡‹‰ …—””‡…›†‡‘‹ƒ–‡†‹˜‡•–‡–•Ǥ

Morethan10 ̈́ Ǧ Ǧ ̈́Ǧ ͺ͹ͳ Ǧ ͳͲǡʹ͵ͺ ͺ͹ͳ ͹͵ǡ͵͸͵  ͳǡ͵͵ͻͳͲǡʹ͵ͺ ͹͵ǡ͵͸͵

Š‡…ƒ””›‹‰ƒ‘—–‘ˆ†‡’‘•‹–•ƒ†‹˜‡•–‡–•ƒ”‡‹…Ž—†‡†‹–Š‡‹•–”‹…–ǯ•…‘•‘Ž‹†ƒ–‡†•–ƒ–‡‡–•‘ˆ‡–’‘•‹–‹‘ ƒ•ˆ‘ŽŽ‘™•ȋ‹–Š‘—•ƒ†•Ȍǣ 2013 2012

̈́ ͺͷǡͺͳͳ



‘–ƒŽˆƒ‹”˜ƒŽ—‡ ̈́ͷ͸Ͳǡ͸ͳ͹ – —‡͵ͲǡʹͲͳʹǡ‹˜‡•–‡–„ƒŽƒ…‡•ƒ†ƒ˜‡”ƒ‰‡ƒ–—”‹–‹‡•™‡”‡ƒ•ˆ‘ŽŽ‘™•ǣ

…Ž—†‡†‹–Š‡ˆ‘ŽŽ‘™‹‰…‘•‘Ž‹†ƒ–‡†•–ƒ–‡‡–‘ˆ‡–’‘•‹–‹‘…ƒ’–‹‘•ǣ Š‘”–Ǧ–‡”‹˜‡•–‡–• —””‡–’‘”–‹‘„‘ƒ”††‡•‹‰ƒ–‡†ǡ”‡•–”‹…–‡†ˆ—†• ƒ†–”—•–‡‡†ƒ••‡–• ‘ƒ”††‡•‹‰ƒ–‡†ǡŽ‡••…—””‡–’‘”–‹‘ ‡•–”‹…–‡†ˆ—†•ǡŽ‡••…—””‡–’‘”–‹‘

– —‡͵ͲǡʹͲͳʹǡ‹˜‡•–‡–„ƒŽƒ…‡•ƒ†ƒ˜‡”ƒ‰‡ƒ–—”‹–‹‡•™‡”‡ƒ•ˆ‘ŽŽ‘™•ǣ FairValue InvestmentMaturities(inyears) InvestmentType Š‘”–Ǧ–‡”‘‡›ƒ”‡– InvestmentType —–—ƒŽˆ—†•

‘˜‡”‡–ƒ†ƒ‰‡…‹‡• Š‘”–Ǧ–‡”‘‡›ƒ”‡– ‘”’‘”ƒ–‡„‘†• —–—ƒŽˆ—†• ‘‡•–‹…ˆ‹š‡†‹…‘‡

‘˜‡”‡–ƒ†ƒ‰‡…‹‡• ‘”‡‹‰ˆ‹š‡†‹…‘‡ ‘”’‘”ƒ–‡„‘†•

(inthousands)

FairValue ̈́ ͻǡͷ͵Ͷ (inthousands)  ͵ʹͷ  ͳͲͻǡͺ͹ͳ ̈́ͻǡͷ͵Ͷ  ͳͺͻǡʹʹͻ  ͵ʹͷ  ͺͻǡͷͳͳ ͳͲͻǡͺ͹ͳ  ͻǡ͸Ͳ͸ ͳͺͻǡʹʹͻ

‘‡•–‹…ˆ‹š‡†‹…‘‡ “—‹–‹‡• ‘”‡‹‰ˆ‹š‡†‹…‘‡

 ͶͲͺǡͲ͹͸  ͺͻǡͷͳͳ  ͷͶǡͶ͹ʹ  ͻǡ͸Ͳ͸

‘–ƒŽˆƒ‹”˜ƒŽ—‡ “—‹–‹‡•

̈́ Ͷ͸ʹǡͷͶͺ  ͶͲͺǡͲ͹͸

ͷͶǡͶ͹ʹ

Lessthan1 ̈́ͻǡͷ͵Ͷ Lessthan1  ͵ʹͷ  ͵ǡ͵ͺʹ ̈́ ͻǡͷ͵Ͷ  ͳ͵ǡͷʹ͸͵ʹͷ   Ǧ͵ǡ͵ͺʹ  Ǧ ͳ͵ǡͷʹ͸

̈́ ʹ͸ǡ͹͸͹Ǧ 

Ǧ ̈́ʹ͸ǡ͹͸͹

1to5

6to10

Morethan10

InvestmentMaturities(inyears) ̈́ Ǧ ̈́Ǧ 1to5 6to10  Ǧ  Ǧ  ͺʹǡͻ͸Ͷ  ʹ͵ǡͷʹͷ Ǧ ̈́Ǧ ̈́  ͳ͸Ͳǡ͸ͻ͸ Ǧ  ͳͷǡͲͲ͹ Ǧ    ͺͻǡͷͳͳ Ǧ ʹ͵ǡͷʹͷ  ͺʹǡͻ͸Ͷ    ͷǡ͵͵ʹ Ͷǡʹ͹Ͷ  ͳ͸Ͳǡ͸ͻ͸   ͳͷǡͲͲ͹

̈́ ͵͵ͺǡͷͲ͵ ͶʹǡͺͲ͸ Ǧ  ͺͻǡͷͳͳ ̈́ 

̈́Ǧ Morethan10  Ǧ  Ǧ ̈́ Ǧ  Ǧ  Ǧ  Ǧ Ǧ  Ǧ  Ǧ

̈́ ʹͲͷǡͷͺʹ

̈́ ʹʹͳǡͶʹͺ

 ͳͳǡͶͲ͵ ͵Ͷ͵ǡͷ͹Ͷ ͷͺ

ͶǡͲ͵ʹ ʹ͵͹ǡͲ͵ʹ ͷ͸

̈́ ͷ͸Ͳǡ͸ͳ͹

̈́ Ͷ͸ʹǡͷͶͺ



̈́ Ǧ  Ǧ

ͷǡ͵͵ʹ

Ͷǡʹ͹Ͷ

Ǧ

̈́ ͵͵ͺǡͷͲ͵

̈́ͶʹǡͺͲ͸

̈́ Ǧ



Interest rate risk Ȃ Š”‘—‰Š ‹–•̈́ ‹˜‡•–‡– ‘–ƒŽˆƒ‹”˜ƒŽ—‡ Ͷ͸ʹǡͷͶͺ’‘Ž‹…‹‡•ǡ –Š‡ ‹•–”‹…– ƒƒ‰‡• ‹–• ‡š’‘•—”‡ –‘ ˆƒ‹” ˜ƒŽ—‡ Ž‘••‡• ƒ”‹•‹‰

ˆ”‘‹…”‡ƒ•‹‰‹–‡”‡•–”ƒ–‡•„›Ž‹‹–‹‰†—”ƒ–‹‘‘ˆˆ‹š‡†‹…‘‡•‡…—”‹–‹‡•‹‹–•’‘”–ˆ‘Ž‹‘–‘‘‘”‡–Šƒ͵ͲΨ‘ˆ †‡•‹‰ƒ–‡†„‡…Šƒ”Ǥ Interest rate risk Ȃ Š”‘—‰Š ‹–• ‹˜‡•–‡– ’‘Ž‹…‹‡•ǡ –Š‡ ‹•–”‹…– ƒƒ‰‡• ‹–• ‡š’‘•—”‡ –‘ ˆƒ‹” ˜ƒŽ—‡ Ž‘••‡• ƒ”‹•‹‰ ˆ”‘‹…”‡ƒ•‹‰‹–‡”‡•–”ƒ–‡•„›Ž‹‹–‹‰†—”ƒ–‹‘‘ˆˆ‹š‡†‹…‘‡•‡…—”‹–‹‡•‹‹–•’‘”–ˆ‘Ž‹‘–‘‘‘”‡–Šƒ͵ͲΨ‘ˆ †‡•‹‰ƒ–‡†„‡…Šƒ”Ǥ Page27

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December 13, 2013 ■ Mountain View Voice ■ MountainViewOnline.com ■

49


CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     NOTE5–CAPITALASSETS

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     ‘•–”—…–‹‘ …‘–”ƒ…–• ‘ˆ ƒ’’”‘š‹ƒ–‡Ž› ̈́ͷͺǡͶͺ͹ǡͲͲͲ ‡š‹•– ˆ‘” –Š‡ …‘•–”—…–‹‘ ‘ˆ ˜ƒ”‹‘—• ’”‘Œ‡…–• ‹…Ž—†‹‰ —’‰”ƒ†‹‰ –Š‡ ‘• ƒ–‘• …ƒ’—•ǡ ‘• ƒ–‘• •‡‹•‹… —’‰”ƒ†‡•ǡ ƒ† –Š‡ ‘‡ǯ• ‘•’‹–ƒŽ ƒ– –Š‡ ‘—–ƒ‹ ‹‡™ …ƒ’—•Ǥ– —‡͵ͲǡʹͲͳ͵ǡ–Š‡”‡ƒ‹‹‰…‘‹–‡–‘–Š‡•‡…‘–”ƒ…–•ƒ’’”‘š‹ƒ–‡†̈́Ͷʹǡͳ͹ͷǡͲͲͲǤ

ƒ’‹–ƒŽƒ••‡–•ƒ…–‹˜‹–›ˆ‘”–Š‡›‡ƒ”‡†‡† —‡͵ͲǡʹͲͳ͵ǡ‹•ƒ•ˆ‘ŽŽ‘™•ȋ‹–Š‘—•ƒ†•Ȍǣ Balance June30,2012

Increases

Decreases

Balance June30,2013

ƒ’‹–ƒŽƒ••‡–•‘–„‡‹‰†‡’”‡…‹ƒ–‡† ƒ† ‘•–”—…–‹‘‹’”‘‰”‡••

̈́͵ͻǡ͸ʹ͹ ͸ǡͲ͹Ͷ

̈́Ǧ ͻǡʹ͸ͳ

̈́Ǧ ͶǡͳͲͻ

̈́͵ͻǡ͸ʹ͹ ͳͳǡʹʹ͸

ƒ’‹–ƒŽƒ••‡–•„‡‹‰†‡’”‡…‹ƒ–‡† ƒ†‹’”‘˜‡‡– —‹Ž†‹‰• ”‘’‡”–›—†‡”…ƒ’‹–ƒŽŽ‡ƒ•‡• ƒ’‹–ƒŽ‡“—‹’‡–

 Ͷͷǡ͹Ͳͳ

ͻǡʹ͸ͳ

ͶǡͳͲͻ

 ͷͲǡͺͷ͵

 ͳͳǡʹͺ͵ ͹ͳͲǡ͸Ͳͳ  ʹ͸ǡͳʹʹ ʹ͵ͷǡͲ͸͸

 Ǧ ͵ǡ͵ͲͶ  Ǧ  ʹͳǡ͵͹ͺ

Ǧ ͵͸͹ Ǧ ͳ͹ǡͺͷͷ

 ͳͳǡʹͺ͵ ͹ͳ͵ǡͷ͵ͺ  ʹ͸ǡͳʹʹ ʹ͵ͺǡͷͺͻ

ͻͺ͵ǡͲ͹ʹ

ʹͶǡ͸ͺʹ

ͳͺǡʹʹʹ

ͻͺͻǡͷ͵ʹ

ͶǡͻͲͺ ͳͺͲǡ͵Ͷ͸ ͳ͸ǡ͵ͻͺ ͳͷ͸ǡͶͳͲ

 ͹ͺ͸  ͳͻǡͻ͸ʹ ͸ǡͳ͸ͳ  ʹͳǡͶͶͺ

Ǧ Ǧ Ǧ ͳ͵ǡͲ͹Ͳ

ͷǡ͸ͻͶ ʹͲͲǡ͵Ͳͺ  ʹʹǡͷͷͻ ͳ͸Ͷǡ͹ͺͺ

͵ͷͺǡͲ͸ʹ

 Ͷͺǡ͵ͷ͹

ͳ͵ǡͲ͹Ͳ

͵ͻ͵ǡ͵Ͷͻ

͸ʹͷǡͲͳͲ

 ȋʹ͵ǡ͸͹ͷȌ

ͷǡͳͷʹ

ͷͻ͸ǡͳͺ͵

̈́ ͸͹Ͳǡ͹ͳͳ

̈́ ȋͳͶǡͶͳͶȌ

̈́ͻǡʹ͸ͳ

̈́ ͸Ͷ͹ǡͲ͵͸

‡••ƒ……——Žƒ–‡††‡’”‡…‹ƒ–‹‘ˆ‘” ƒ†‹’”‘˜‡‡– —‹Ž†‹‰• ”‘’‡”–›—†‡”…ƒ’‹–ƒŽŽ‡ƒ•‡• ƒ’‹–ƒŽ‡“—‹’‡– ‘–ƒŽ…ƒ’‹–ƒŽƒ••‡–•„‡‹‰ †‡’”‡…‹ƒ–‡†ǡ‡– ‘–ƒŽ…ƒ’‹–ƒŽƒ••‡–•ǡ‡–

ƒ’‹–ƒŽƒ••‡–•„‡‹‰†‡’”‡…‹ƒ–‡† ƒ†‹’”‘˜‡‡– —‹Ž†‹‰• ”‘’‡”–›—†‡”…ƒ’‹–ƒŽŽ‡ƒ•‡• ƒ’‹–ƒŽ‡“—‹’‡– ‡••ƒ……——Žƒ–‡††‡’”‡…‹ƒ–‹‘ˆ‘” ƒ†‹’”‘˜‡‡– —‹Ž†‹‰• ”‘’‡”–›—†‡”…ƒ’‹–ƒŽŽ‡ƒ•‡• ƒ’‹–ƒŽ‡“—‹’‡–

Š‡ ‘•’‹–ƒŽ•’‘•‘”•ƒ…ƒ•ŠǦ„ƒŽƒ…‡’‡•‹‘’Žƒȋ–Š‡DzŽƒdzȌǡ™Š‹…ŠŠƒ•„‡‡‹‡ˆˆ‡…–•‹…‡ ƒ—ƒ”›ͳǡͳͻͻͷǤŠ‡ Žƒ …‘˜‡”• ‡’Ž‘›‡‡• ™Š‘ ƒ”‡ ʹͳ ›‡ƒ”• ‘ˆ ƒ‰‡ ƒ† Šƒ˜‡ …‘’Ž‡–‡† ‘‡ ›‡ƒ” ‘ˆ …”‡†‹–‡† •‡”˜‹…‡Ǥ ƒ”–‹…‹’ƒ–• ƒ”‡ ‡–‹–Ž‡†–‘ƒŽ—’Ǧ•—†‹•–”‹„—–‹‘‘”‘–ŠŽ›„‡‡ˆ‹–•ƒ–ƒ‰‡͸ͷ„ƒ•‡†‘ƒ’”‡†‡–‡”‹‡†ˆ‘”—Žƒ–Šƒ–…‘•‹†‡”• ›‡ƒ”• ‘ˆ •‡”˜‹…‡ ƒ† …‘’‡•ƒ–‹‘Ǥ ˆˆ‡…–‹˜‡ —Ž›ͳǡ ͳͻͻͻǡ ‡’Ž‘›‡” Žƒ „‡‡ˆ‹–• ƒ”‡ …ƒŽ…—Žƒ–‡† ƒ• ͷΨ ‘ˆ ƒ ’ƒ”–‹…‹’ƒ–ǯ•ƒ—ƒŽ’Žƒ…‘’‡•ƒ–‹‘ǡƒ†–Š‡ƒ—ƒŽ‹–‡”‡•–‹•ƒ‹†‡š‡†”ƒ–‡„ƒ•‡†‘–Š‡”‡–—”‘–‡Ǧ›‡ƒ” ǤǤ–”‡ƒ•—”›•‡…—”‹–‹‡•Ǥƒ”–‹…‹’ƒ–•ƒ”‡ˆ—ŽŽ›˜‡•–‡†‹–Š‡‹”ƒ……‘—–„ƒŽƒ…‡•ƒˆ–‡”ˆ‹˜‡’‡•‹‘›‡ƒ”•Ǥ ‡”–ƒ‹ ”‡–‹”‡† ƒ† –‡”‹ƒ–‡† ‡’Ž‘›‡‡• ƒ† …‡”–ƒ‹ ’ƒ”–‹…‹’ƒ–• …‘˜‡”‡† „› ƒ …‘ŽŽ‡…–‹˜‡ „ƒ”‰ƒ‹‹‰ ƒ‰”‡‡‡– …‘–‹—‡–‘’ƒ”–‹…‹’ƒ–‡—†‡”’”‘˜‹•‹‘•‘ˆƒ†‡ˆ‹‡†Ǧ„‡‡ˆ‹–”‡–‹”‡‡–’Žƒ‹‡ˆˆ‡…–’”‹‘”–‘ ƒ—ƒ”›ͳǡͳͻͻͷǤ› …‘•–•ƒ†Ž‹ƒ„‹Ž‹–‹‡•”‡Žƒ–‡†–‘–Š‹•’Žƒƒ”‡‹…Ž—†‡†„‡Ž‘™Ǥ Š‡ˆ‘ŽŽ‘™‹‰–ƒ„Ž‡•—ƒ”‹œ‡•–Š‡‡–’‡•‹‘‘„Ž‹‰ƒ–‹‘ȋDzdzȌ‘”’”‡’ƒ‹†’‡•‹‘ƒ••‡–ˆ‘”–Š‡ ‘•’‹–ƒŽǯ•…ƒ•ŠǦ „ƒŽƒ…‡’‡•‹‘’Žƒȋ‹–Š‘—•ƒ†•Ȍǣ Endof Beginning YearNPO/ ofYear (Prepaid Increase Actual Annual NPO/(Prepaid Pension (Decrease) Contribution Pension Pension Asset) inNPO(bǦc) (c) Cost(b) Asset)(a) ((a)+cǦb)) FiscalYear



ƒ’‹–ƒŽƒ••‡–•ƒ…–‹˜‹–›ˆ‘”–Š‡›‡ƒ”‡†‡† —‡͵ͲǡʹͲͳʹǡ‹•ƒ•ˆ‘ŽŽ‘™•ȋ‹–Š‘—•ƒ†•Ȍǣ

ƒ’‹–ƒŽƒ••‡–•‘–„‡‹‰†‡’”‡…‹ƒ–‡† ƒ† ‘•–”—…–‹‘‹’”‘‰”‡••

NOTE6–EMPLOYEEBENEFITPLANS

Balance June30,2011

Increases

Decreases

Balance June30,2012

̈́͵͵ǡͻ͵͹ ͶǡͷʹͲ

̈́ͷǡ͸ͻͲ ͺǡ͸ͻͲ

̈́Ǧ ͹ǡͳ͵͸

̈́͵ͻǡ͸ʹ͹ ͸ǡͲ͹Ͷ

 ͵ͺǡͶͷ͹

 ͳͶǡ͵ͺͲ

͹ǡͳ͵͸

 Ͷͷǡ͹Ͳͳ

 ͳͳǡʹ͹͹ ͹Ͳ͵ǡ͵ʹͻ  ʹ͸ǡͳʹʹ ʹʹ͹ǡʹͳͺ

 ͸ ͹ǡͷ͹ͷ  Ǧ ʹͲǡ͸ͺͺ

Ǧ ͵Ͳ͵ Ǧ ͳʹǡͺͶͲ

 ͳͳǡʹͺ͵ ͹ͳͲǡ͸Ͳͳ  ʹ͸ǡͳʹʹ ʹ͵ͷǡͲ͸͸

ͻ͸͹ǡͻͶ͸

ʹͺǡʹ͸ͻ

ͳ͵ǡͳͶ͵

ͻͺ͵ǡͲ͹ʹ

Ͷǡͳͳ͸ ͳ͸ͲǡͶͺ͸  ͳͲǡʹ͵͹ ͳͶͲǡ͵ͺ͸

 ͹ͻͷ  ͳͻǡͺ͸Ͳ ͸ǡͳ͸ͳ  ʹʹǡͺ͵ͻ

͵ Ǧ Ǧ ͸ǡͺͳͷ

ͶǡͻͲͺ ͳͺͲǡ͵Ͷ͸  ͳ͸ǡ͵ͻͺ ͳͷ͸ǡͶͳͲ

͵ͳͷǡʹʹͷ

 Ͷͻǡ͸ͷͷ

͸ǡͺͳͺ

͵ͷͺǡͲ͸ʹ

‘–ƒŽ…ƒ’‹–ƒŽƒ••‡–•„‡‹‰ †‡’”‡…‹ƒ–‡†ǡ‡–

͸ͷʹǡ͹ʹͳ

 ȋʹͳǡ͵ͺ͸Ȍ

͸ǡ͵ʹͷ

͸ʹͷǡͲͳͲ

‘–ƒŽ…ƒ’‹–ƒŽƒ••‡–•ǡ‡–

̈́ ͸ͻͳǡͳ͹ͺ

̈́ȋ͹ǡͲͲ͸Ȍ

̈́ͳ͵ǡͶ͸ͳ

̈́ ͸͹Ͳǡ͹ͳͳ

ʹͲͳͳ ʹͲͳʹ ʹͲͳ͵

̈́ȋʹ͹ǡ͵ͳͲȌ ̈́ȋʹͶǡʹ͵ͻȌ ̈́ȋʹ͹ǡͷʹ͸Ȍ

̈́ ͹ǡͺ͹ͳ ̈́ͳʹǡ͵͸͹ ̈́ͳʹǡ͸͸ͷ

̈́ͶǡͺͲͲ ̈́ ͳͷǡ͸ͷͶ ̈́ ͳͺǡͲͲͷ

̈́͵ǡͲ͹ͳ ̈́ȋ͵ǡʹͺ͹Ȍ ̈́ȋͷǡ͵ͶͲȌ

̈́ ȋʹͶǡʹ͵ͻȌ ̈́ ȋʹ͹ǡͷʹ͸Ȍ ̈́ ȋ͵ʹǡͺ͸͸Ȍ

 Š‡ˆ‘ŽŽ‘™‹‰–ƒ„Ž‡•—ƒ”‹œ‡•–Š‡ƒ…–—ƒ”‹ƒŽƒ••—’–‹‘•—•‡†–‘†‡–‡”‹‡–Š‡ ‘•’‹–ƒŽǯ•…ƒ•ŠǦ„ƒŽƒ…‡’‡•‹‘’Žƒ Ž‹ƒ„‹Ž‹–‹‡•ƒ•‘ˆ —‡͵Ͳǣ 2013 2012 2011

š’‡…–‡†Ž‘‰Ǧ–‡””‡–—”‘ƒ••‡–• ƒ–‡‘ˆ…‘’‡•ƒ–‹‘‹…”‡ƒ•‡• ƒ–‡‘ˆƒ…–—ƒ”‹ƒŽ˜ƒŽ—ƒ–‹‘ ‘”–‹œƒ–‹‘’‡”‹‘†‘ˆ

͸ǤͲΨ ͶǤͲΨ ƒ—ƒ”›ʹͲͳʹ ͹›‡ƒ”•

͸ǤͲΨ ͶǤͲΨ ƒ—ƒ”›ʹͲͳͳ ͹›‡ƒ”•

͹ǤͲΨ ͶǤͲΨ ƒ—ƒ”›ʹͲͳͲ ͳͲ›‡ƒ”•

‘’‘‡–•‘ˆ’‡•‹‘ƒ…–‹˜‹–›ˆ‘”–Š‡›‡ƒ”•‡†‡† —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǡ…‘•‹•–‘ˆ–Š‡ˆ‘ŽŽ‘™‹‰ȋ‹–Š‘—•ƒ†•Ȍǣ

‡•‹‘‡š’‡•‡ ’Ž‘›‡”…‘–”‹„—–‹‘• ‡‡ˆ‹–•’ƒ‹†

2013

2012

̈́ͳʹǡ͸͸ͷ ̈́ͳͺǡͲͲͷ ̈́ͺǡͲʹͶ

̈́ ͺǡͳͳͶ ̈́ͳͷǡ͸ͷͶ ̈́ ͹ǡͳͳͺ





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■ Mountain View Voice ■ MountainViewOnline.com ■ December 13, 2013

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Page 18 of 28


CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     Ž‹‰‹„Ž‡‡’Ž‘›‡‡•‘ˆ–Š‡ ‘•’‹–ƒŽƒ›ƒŽ•‘‡Ž‡…––‘’ƒ”–‹…‹’ƒ–‡‹ƒ•‡’ƒ”ƒ–‡†‡ˆ‡””‡†…‘’‡•ƒ–‹‘’Žƒȋ–Š‡ͶͲ͵ȋ„Ȍ ’ŽƒȌ ’—”•—ƒ– –‘ ‡…–‹‘ ͶͲ͵ȋ„Ȍ ‘ˆ –Š‡ ‘†‡Ǥ Š‡ ‘•’‹–ƒŽ ƒ…–• ƒ• –Š‡ ƒ†‹‹•–”ƒ–‘” ƒ† •’‘•‘”ǡ ƒ† –Š‡ ͶͲ͵ȋ„Ȍ ’Žƒǯ• ƒ••‡–• ƒ”‡ Š‡Ž† „› –”—•–‡‡• †‡•‹‰ƒ–‡† „› –Š‡ ‘•’‹–ƒŽǯ• ƒƒ‰‡‡–Ǥ ’Ž‘›‡‡• ƒ”‡ ‡Ž‹‰‹„Ž‡ –‘ ’ƒ”–‹…‹’ƒ–‡ —’‘ ‡’Ž‘›‡–ǡ ƒ† ’ƒ”–‹…‹’ƒ–• ƒ”‡ ‹‡†‹ƒ–‡Ž› ˜‡•–‡† ‹ –Š‡‹” ‡Ž‡…–‹˜‡ …‘–”‹„—–‹‘• ’Ž—• ƒ…–—ƒŽ ‡ƒ”‹‰• –Š‡”‡‘Ǥ Š‡ ‘•’‹–ƒŽ ™‹ŽŽ ƒ–…Š ‡’Ž‘›‡‡ …‘–”‹„—–‹‘• –‘ –Š‡ ͶͲ͵ȋ„Ȍ ’Žƒǡ •—„Œ‡…– –‘ ƒ ƒš‹— ‘ˆ ͶΨ ‘ˆ ‡ƒ…Š ’ƒ”–‹…‹’ƒ–ǯ•ƒ—ƒŽ’Žƒ…‘’‡•ƒ–‹‘Ǥƒ”–‹…‹’ƒ–•ƒ”‡‡Ž‹‰‹„Ž‡ˆ‘”‡’Ž‘›‡”ƒ–…Š‹–Š‡•‡…‘†’Žƒ›‡ƒ”‹™Š‹…Š –Š‡›™‘”ƒ–Ž‡ƒ•–ͳǡͲͲͲŠ‘—”•ǡƒ†–Š‡›—•–„‡‘–Š‡’ƒ›”‘ŽŽƒ––Š‡‡†‘ˆ–Š‡’Žƒ›‡ƒ”ȋ‡…‡„‡”͵ͳȌǤ’Ž‘›‡” ƒ–…Š‹‰…‘–”‹„—–‹‘•—†‡”–Š‡ͶͲ͵ȋ„Ȍ’Žƒƒ”‡ƒ†‡–‘–Š‡…ƒ•ŠȂ„ƒŽƒ…‡’‡•‹‘’Žƒƒ†‡ƒ”‹–‡”‡•–ƒ•†‡ˆ‹‡† „›–Šƒ–’ŽƒǤ’Ž‘›‡”ƒ–…Š‹‰…‘–”‹„—–‹‘•–‘–Š‡ͶͲ͵ȋ„Ȍ’Žƒ‘ˆ̈́͸ǡ͹ͻ͹ǡͲͲͲ ƒ†̈́͸ǡͷ͵ͳǡͲͲͲ‹ʹͲͳ͵ƒ†ʹͲͳʹǡ ”‡•’‡…–‹˜‡Ž›ǡ ƒ”‡ ‹…Ž—†‡† ‹ „‡‡ˆ‹–• ‡š’‡•‡Ǥ ƒ”–‹…‹’ƒ–• ƒ”‡ ‹‡†‹ƒ–‡Ž› ˜‡•–‡† ‹ –Š‡ ‡’Ž‘›‡” …‘–”‹„—–‹‘• ‹…Ž—†‡†‹–Š‡…ƒ•ŠȂ„ƒŽƒ…‡’‡•‹‘’ŽƒǤ NOTE7–POSTRETIREMENTMEDICALBENEFITS Š‡ ‘•’‹–ƒŽ’”‘˜‹†‡•Š‡ƒŽ–Š…ƒ”‡„‡‡ˆ‹–•ƒ†Ž‹ˆ‡‹•—”ƒ…‡ˆ‘””‡–‹”‡†‡’Ž‘›‡‡•™Š‘‡‡–‡Ž‹‰‹„‹Ž‹–›”‡“—‹”‡‡–• ƒ•‘—–Ž‹‡†‹–Š‡’Žƒ†‘…—‡–ǡƒ•ƒ’’”‘˜‡†„›–Š‡„‘ƒ”†‘ˆ†‹”‡…–‘”•‘ˆ–Š‡ ‘•’‹–ƒŽǤŽŽ‡’Ž‘›‡‡•™Š‘ƒ––ƒ‹ƒ‰‡ ͷͷ™‹–Šƒ‹‹—‘ˆʹͲ›‡ƒ”•‘ˆ‡”‘ŽŽ‡–‹–Š‡ ‘•’‹–ƒŽǯ•Š‡ƒŽ–Š…ƒ”‡’”‘‰”ƒƒ†ƒ”‡‡”‘ŽŽ‡†‹‘‡‘ˆ–Š‡’Žƒ• —’‘”‡–‹”‡‡–ǡƒ†™Š‘™‡”‡Š‹”‡†’”‹‘”–‘ —Ž›ͳǡͳͻͻͶƒ”‡‡Ž‹‰‹„Ž‡Ǥ†‡”–Š‡’Žƒǡ‡’Ž‘›‡‡•ƒ”‡…”‡†‹–‡†™‹–Š ‡’Ž‘›‡–Š‹•–‘”›ƒ……——Žƒ–‡†—†‡”ƒ’”‹‘” ‘•’‹–ƒŽ’ŽƒǤ ‡‡ˆ‹–• ƒ”‡ ˆ—†‡† „› –Š‡ ‘•’‹–ƒŽ ‘ ƒ ’ƒ›Ǧƒ•Ǧ›‘— ‰‘ „ƒ•‹•Ǥ ˆ ƒ ’ƒ”–‹…‹’ƒ– –‡”‹ƒ–‡• ˆ”‘ –Š‡ ‘•’‹–ƒŽ ƒˆ–‡” ʹͲ›‡ƒ”•‘ˆ‡”‘ŽŽ‡–„—–„‡ˆ‘”‡”‡ƒ…Š‹‰ƒ‰‡͸ʹǡŠ‡‘”•Š‡…ƒ…Š‘‘•‡–‘…‘–”‹„—–‡–‘–Š‡’Žƒ„‡–™‡‡ƒ‰‡•ͷͷƒ† ͸ͳ–‘”‡–ƒ‹–Š‡’Žƒǯ•„‡‡ˆ‹–•Ǥ–ƒ‰‡͸ʹǡ‡Ž‹‰‹„Ž‡”‡–‹”‡‡•ƒ”‡‰‹˜‡ƒƒ—ƒŽ…”‡†‹–„ƒ•‡†‘›‡ƒ”•‘ˆ•‡”˜‹…‡–‘’ƒ› ˆ‘”Š‡ƒŽ–Š„‡‡ˆ‹–•Ǥ•‘ˆ —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǡƒ’’”‘š‹ƒ–‡Ž›͸ͷͷ‡’Ž‘›‡‡•ƒ†ˆ‘”‡”‡’Ž‘›‡‡•™‡”‡‡Ž‹‰‹„Ž‡ –‘’ƒ”–‹…‹’ƒ–‡‹–Š‡’ŽƒǤ ‘”–Š‡ˆ‹•…ƒŽ›‡ƒ”•‡†‡† —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǡ–Š‡ ‘•’‹–ƒŽ…‘–”‹„—–‡†̈́Ͷ͸ͺǡͲͲͲƒ† ̈́͹ʹ͹ǡͲͲͲǡ”‡•’‡…–‹˜‡Ž›ǡ–‘ˆ—†„‡‡ˆ‹–•’ƒ‹†‹–Š‘•‡›‡ƒ”•Ǥ Š‡ ‘•’‹–ƒŽǯ• ƒ—ƒŽ ’‘•–”‡–‹”‡‡– „‡‡ˆ‹– …‘•– ‹• …ƒŽ…—Žƒ–‡† „ƒ•‡† ‘ –Š‡ ƒ—ƒŽ ”‡“—‹”‡† …‘–”‹„—–‹‘ ‘ˆ –Š‡ ‡’Ž‘›‡” ȋDzdzȌǡ ƒ ƒ‘—– ƒ…–—ƒ”‹ƒŽŽ› †‡–‡”‹‡† ‹ ƒ……‘”†ƒ…‡ ™‹–Š ’ƒ”ƒ‡–‡”• ‘ˆ  ‘†‹ˆ‹…ƒ–‹‘ ‡…–‹‘ ͷͲǡPostemploymentBenefitsOtherThanPensionBenefitsǦEmployerReportingǤŠ‡”‡’”‡•‡–•ƒŽ‡˜‡Ž‘ˆˆ—†‹‰ –Šƒ–ǡ ‹ˆ ’ƒ‹† ‘ ƒ ‘‰‘‹‰ „ƒ•‹•ǡ ‹• ’”‘Œ‡…–‡† –‘ …‘˜‡” ‘”ƒŽ …‘•– ‡ƒ…Š ›‡ƒ” ƒ† ƒ‘”–‹œ‡ ƒ› —ˆ—†‡† ƒ…–—ƒ”‹ƒŽ Ž‹ƒ„‹Ž‹–‹‡•ȋ‘”ˆ—†‹‰‡š…‡••Ȍ‘˜‡”ƒ’‡”‹‘†‘––‘‡š…‡‡†–Š‹”–››‡ƒ”•Ǥ Š‡ˆ‘ŽŽ‘™‹‰–ƒ„Ž‡•Š‘™•–Š‡…‘’‘‡–•‘ˆ–Š‡ ‘•’‹–ƒŽǯ•ƒ—ƒŽ’‘•–”‡–‹”‡‡–„‡‡ˆ‹–…‘•–ǡ–Š‡ƒ‘—–ƒ…–—ƒŽŽ› …‘–”‹„—–‡†–‘–Š‡’Žƒǡƒ†–Š‡…Šƒ‰‡•‹–Š‡ ‘•’‹–ƒŽǯ•’‘•–”‡–‹”‡‡–„‡‡ˆ‹–‘„Ž‹‰ƒ–‹‘ȋ‹–Š‘—•ƒ†•Ȍǣ 2013

2012

—ƒŽ”‡“—‹”‡†…‘–”‹„—–‹‘

–‡”‡•–‘’‘•–”‡–‹”‡‡–„‡‡ˆ‹–‘„Ž‹‰ƒ–‹‘ †Œ—•–‡––‘ƒ—ƒŽ”‡“—‹”‡†…‘–”‹„—–‹‘

̈́ͺͻ͸ ͸͵Ͳ ȋ͵ͶͻȌ

̈́ ͺͻͲ  ͸ͳͻ  ȋͶͺͷȌ

—ƒŽ’‘•–”‡–‹”‡‡–„‡‡ˆ‹–‡š’‡•‡

ͳǡͳ͹͹

ͳǡͲʹͶ

’Ž‘›‡”…‘–”‹„—–‹‘•

ȋͶ͸ͺȌ

 ȋ͹ʹ͹Ȍ

 …”‡ƒ•‡‹ƒ……——Žƒ–‡†„‡‡ˆ‹–‘„Ž‹‰ƒ–‹‘

̈́͹Ͳͻ

̈́ ʹͻ͹

‘•–”‡–‹”‡‡–„‡‡ˆ‹–‘„Ž‹‰ƒ–‹‘ǡ„‡‰‹‹‰‘ˆ–Š‡›‡ƒ” ‘•–”‡–‹”‡‡–„‡‡ˆ‹–‘„Ž‹‰ƒ–‹‘ǡ‡†‘ˆ–Š‡›‡ƒ”

̈́ͳͶǡͺ͵ʹ ̈́ͳͷǡͷͶͳ

̈́ ͳͶǡͷ͵ͷ ̈́ ͳͶǡͺ͵ʹ

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     Š‡ ‘•’‹–ƒŽǯ•ƒ—ƒŽ’‘•–”‡–‹”‡‡–„‡‡ˆ‹–…‘•–ǡ–Š‡’‡”…‡–ƒ‰‡‘ˆƒ—ƒŽ’‘•–”‡–‹”‡‡–„‡‡ˆ‹–…‘•–…‘–”‹„—–‡†–‘ –Š‡ ’Žƒǡ ƒ† –Š‡ ’‘•–”‡–‹”‡‡– „‡‡ˆ‹– ‘„Ž‹‰ƒ–‹‘ ˆ‘” ʹͲͳ͵ ƒ† –Š‡ –™‘ ’”‡…‡†‹‰ ›‡ƒ”• ™‡”‡ ƒ• ˆ‘ŽŽ‘™• ȋ‹ –Š‘—•ƒ†•Ȍǣ Annual Annual Postretirement Postretirement BenefitExpense Benefit Postretirement BenefitExpense Contributed Obligation ‹•…ƒŽ‡ƒ”†‡† —‡͵ͲǡʹͲͳͳ —‡͵ͲǡʹͲͳʹ —‡͵ͲǡʹͲͳ͵

̈́ ͳǡͳͳʹ ̈́ ͳǡͲʹͶ ̈́ ͳǡͳ͹͹

͸ͻǤ͸ͲΨ ͹ͳǤͲͲΨ ͵ͻǤ͹͸Ψ

̈́ ͳͶǡͷ͵ͷ ̈́ ͳͶǡͺ͵ʹ ̈́ ͳͷǡͷͶͳ

 •‘ˆ —Ž›ͳǡʹͲͳͳǡ–Š‡‘•–”‡…‡–ƒ…–—ƒ”‹ƒŽ˜ƒŽ—ƒ–‹‘†ƒ–‡ǡ–Š‡’Žƒ™ƒ•‘–ˆ—†‡†ǤŠ‡ƒ…–—ƒ”‹ƒŽƒ……”—‡†Ž‹ƒ„‹Ž‹–›ˆ‘” „‡‡ˆ‹–• ™ƒ• ̈́ʹͳǡͶͲͲǡͲͲͲǡ ”‡•—Ž–‹‰ ‹ ƒ —ˆ—†‡† ƒ…–—ƒ”‹ƒŽ ƒ……”—‡† Ž‹ƒ„‹Ž‹–› ȋȌ ‘ˆ ̈́ʹͳǡͶͲͲǡͲͲͲǤ Š‡ …‘˜‡”‡† ’ƒ›”‘ŽŽȋƒ—ƒŽ’ƒ›”‘ŽŽ‘ˆƒ…–‹˜‡‡’Ž‘›‡‡•…‘˜‡”‡†„›–Š‡’ŽƒȌ™ƒ•̈́Ͷʹǡͻ͵ͳǡͲͲͲǡƒ†–Š‡”ƒ–‹‘‘ˆ–Š‡–‘–Š‡ …‘˜‡”‡†’ƒ›”‘ŽŽ™ƒ•ǦͶͻǤͺΨǤ ‘”‡ƒ•—”‡‡–’—”’‘•‡•ǡƒ—ƒŽ”ƒ–‡•‘ˆ‹…”‡ƒ•‡‹–Š‡’‡”…ƒ’‹–ƒ…‘•–‘ˆ…‘˜‡”‡†Š‡ƒŽ–Š…ƒ”‡„‡‡ˆ‹–•‘ˆͻΨƒ† ͳͲΨ™‡”‡ƒ••—‡†ˆ‘”ˆ‹•…ƒŽ›‡ƒ”•ʹͲͳ͵ƒ†ʹͲͳʹǡ”‡•’‡…–‹˜‡Ž›ǤŠ‡”ƒ–‡™ƒ•ƒ••—‡†–‘†‡…”‡ƒ•‡‰”ƒ†—ƒŽŽ›–‘ͷǤͷΨ ‘˜‡”–Š‡‡š–ˆ‘—”›‡ƒ”•ƒ†”‡ƒ‹ƒ––Šƒ–Ž‡˜‡Ž–Š‡”‡ƒˆ–‡”ǤŠ‡†‡–ƒŽ„‡‡ˆ‹––”‡†”ƒ–‡™ƒ•ƒ••—‡†–‘„‡ͷΨ‹ƒŽŽ ˆ—–—”‡ ›‡ƒ”•Ǥ Š‡ †‹•…‘—– ”ƒ–‡• —•‡† ™ƒ• ͶǤʹͷΨ ˆ‘” „‘–Š ʹͲͳ͵ ƒ† ʹͲͳʹǤ Š‡  ‹• „‡‹‰ ƒ‘”–‹œ‡† ƒ• ƒ Ž‡˜‡Ž ’‡”…‡–ƒ‰‡‘˜‡”͵Ͳ›‡ƒ”•‘ƒ‘’‡„ƒ•‹•Ǥ …–—ƒ”‹ƒŽ˜ƒŽ—ƒ–‹‘•‘ˆƒ‘‰‘‹‰’Žƒ‹˜‘Ž˜‡‡•–‹ƒ–‡•‘ˆ–Š‡˜ƒŽ—‡‘ˆ”‡’‘”–‡†ƒ‘—–•ƒ†ƒ••—’–‹‘•ƒ„‘—––Š‡ ’”‘„ƒ„‹Ž‹–› ‘ˆ ‘……—””‡…‡ ‘ˆ ‡˜‡–• ˆƒ” ‹–‘ –Š‡ ˆ—–—”‡Ǥ šƒ’Ž‡• ‹…Ž—†‡ ƒ••—’–‹‘• ƒ„‘—– ˆ—–—”‡ ‡’Ž‘›‡–ǡ ‘”–ƒŽ‹–›ǡƒ†–Š‡Š‡ƒŽ–Š…ƒ”‡…‘•––”‡†Ǥ‘—–•†‡–‡”‹‡†”‡‰ƒ”†‹‰–Š‡ˆ—†‡†•–ƒ–—•‘ˆ–Š‡’Žƒƒ†–Š‡ƒ—ƒŽ ”‡“—‹”‡† …‘–”‹„—–‹‘• ‘ˆ –Š‡ ‡’Ž‘›‡” ƒ”‡ •—„Œ‡…– –‘ …‘–‹—ƒŽ ”‡˜‹•‹‘ ƒ• ƒ…–—ƒŽ ”‡•—Ž–• ƒ”‡ …‘’ƒ”‡† ™‹–Š ’ƒ•– ‡š’‡…–ƒ–‹‘•ƒ†‡™‡•–‹ƒ–‡•ƒ”‡ƒ†‡ƒ„‘—––Š‡ˆ—–—”‡ǤŠ‡•…Š‡†—Ž‡‘ˆˆ—†‹‰’”‘‰”‡••ǡ’”‡•‡–‡†ƒ•”‡“—‹”‡† •—’’Ž‡‡–ƒ”› ‹ˆ‘”ƒ–‹‘ ˆ‘ŽŽ‘™‹‰ –Š‡ ‘–‡• –‘ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•ǡ ’”‡•‡–• —Ž–‹›‡ƒ” –”‡† ‹ˆ‘”ƒ–‹‘ ƒ„‘—– ™Š‡–Š‡” –Š‡ ƒ…–—ƒ”‹ƒŽ ˜ƒŽ—‡ ‘ˆ ’Žƒ ƒ••‡–• ‹• ‹…”‡ƒ•‹‰ ‘” †‡…”‡ƒ•‹‰ ‘˜‡” –‹‡ ”‡Žƒ–‹˜‡ –‘ –Š‡ ƒ…–—ƒ”‹ƒŽƒ……”—‡†Ž‹ƒ„‹Ž‹–‹‡•ˆ‘”„‡‡ˆ‹–•Ǥ ”‘Œ‡…–‹‘•‘ˆ„‡‡ˆ‹–•ˆ‘”ˆ‹ƒ…‹ƒŽ”‡’‘”–‹‰’—”’‘•‡•ƒ”‡„ƒ•‡†‘–Š‡•—„•–ƒ–‹˜‡’Žƒȋ–Š‡’Žƒƒ•—†‡”•–‘‘†„› –Š‡‡’Ž‘›‡”ƒ†–Š‡’Žƒ‡„‡”•Ȍƒ†‹…Ž—†‡–Š‡–›’‡•‘ˆ„‡‡ˆ‹–•’”‘˜‹†‡†ƒ––Š‡–‹‡‘ˆ‡ƒ…Š˜ƒŽ—ƒ–‹‘ƒ†–Š‡ Š‹•–‘”‹…ƒŽ ’ƒ––‡” ‘ˆ •Šƒ”‹‰ ‘ˆ „‡‡ˆ‹– …‘•–• „‡–™‡‡ –Š‡ ‡’Ž‘›‡” ƒ† ’Žƒ ‡„‡”• –‘ –Šƒ– ’‘‹–Ǥ Š‡ ƒ…–—ƒ”‹ƒŽ ‡–Š‘†•ƒ†ƒ••—’–‹‘•—•‡†‹…Ž—†‡–‡…Š‹“—‡•–Šƒ–ƒ”‡†‡•‹‰‡†–‘”‡†—…‡–Š‡‡ˆˆ‡…–•‘ˆ•Š‘”–Ǧ–‡”˜‘Žƒ–‹Ž‹–›‹ ƒ…–—ƒ”‹ƒŽ ƒ……”—‡† Ž‹ƒ„‹Ž‹–‹‡• ƒ† –Š‡ ƒ…–—ƒ”‹ƒŽ ˜ƒŽ—‡ ‘ˆ ƒ••‡–•ǡ …‘•‹•–‡– ™‹–Š –Š‡ Ž‘‰Ǧ–‡” ’‡”•’‡…–‹˜‡ ‘ˆ –Š‡ …ƒŽ…—Žƒ–‹‘•Ǥ NOTE8–INSURANCEPLANS Š‡ ‘•’‹–ƒŽ ’—”…Šƒ•‡• ’”‘ˆ‡••‹‘ƒŽǡ ‰‡‡”ƒŽǡ ƒ—–‘‘„‹Ž‡ǡ ƒ† †‹”‡…–‘”• ƒ† ‘ˆˆ‹…‡”• Ž‹ƒ„‹Ž‹–› ‹•—”ƒ…‡ ˆ”‘  ‡ƒŽ–Š…ƒ”‡ ”‘—’ȋDz dzȌǡƒ†ƒŽ•‘’—”…Šƒ•‡•ƒŽŽǦ”‹•’”‘’‡”–›‹•—”ƒ…‡ȋ‹…Ž—†‹‰Ž‹‹–‡†ˆŽ‘‘†Ȍǡˆ‹†—…‹ƒ”›ǡ…”‹‡ǡ ƒ†‡š…‡••™‘”‡”•ǯ…‘’‡•ƒ–‹‘…‘˜‡”ƒ‰‡‡‡†•ˆ”‘ŽŽ‹ƒ–‹•—”ƒ…‡‡”˜‹…‡•ȋDzŽŽ‹ƒ–dzȌǤŠ‡ ‘•’‹–ƒŽǯ•…‘˜‡”ƒ‰‡ ‹•—†‡”ƒ…Žƒ‹•Ǧƒ†‡’‘Ž‹…›™‹–ŠŽ‹‹–•‘ˆ̈́͵Ͳ‹ŽŽ‹‘’‡”‘……—””‡…‡ǡ̈́͵Ͳ‹ŽŽ‹‘‹–Š‡ƒ—ƒŽƒ‰‰”‡‰ƒ–‡ǡƒ†™‹–Š ƒ•‡ŽˆǦ‹•—”‡†”‡–‡–‹‘Ž‡˜‡Ž‘ˆ̈́ͷͲǡͲͲͲ’‡”…Žƒ‹Ǥ



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December 13, 2013 ■ Mountain View Voice ■ MountainViewOnline.com ■

51


CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     Š‡”‡ ƒ”‡ ‘™ …Žƒ‹• ƒ† ‹…‹†‡–• –Šƒ– ƒ› ”‡•—Ž– ‹ –Š‡ ƒ••‡”–‹‘ ‘ˆ ƒ††‹–‹‘ƒŽ …Žƒ‹•ǡ ƒ• ™‡ŽŽ ƒ• …Žƒ‹• ˆ”‘ —‘™ ‹…‹†‡–• –Šƒ– ƒ› „‡ ƒ••‡”–‡† ˆ”‘ •‡”˜‹…‡• ’”‘˜‹†‡† –‘ ’ƒ–‹‡–•Ǥ Š‡ ‘•’‹–ƒŽ Šƒ• ƒ…–—ƒ”‹ƒŽ ‡•–‹ƒ–‡• ’‡”ˆ‘”‡†ƒ—ƒŽŽ›‘‹–••‡ŽˆǦ‹•—”ƒ…‡’Žƒ•‘ˆ’”‘ˆ‡••‹‘ƒŽŽ‹ƒ„‹Ž‹–›ƒ†™‘”‡”•ǯ…‘’‡•ƒ–‹‘„‡‡ˆ‹–•Ǥ•–‹ƒ–‡† Ž‹ƒ„‹Ž‹–‹‡• ȋ™Š‹…Š Šƒ˜‡ ‘–„‡‡ †‹•…‘—–‡†Ȍ Šƒ˜‡ „‡‡ ƒ…–—ƒ”‹ƒŽŽ›†‡–‡”‹‡†ƒ– ƒ ‡š’‡…–‡†͹ͷΨ …‘ˆ‹†‡…‡ Ž‡˜‡Ž ƒ†‹…Ž—†‡ƒ‡•–‹ƒ–‡‘ˆ‹…—””‡†ǡ„—–‘–”‡’‘”–‡†ǡ…Žƒ‹•ǤŠ‡„ƒŽƒ…‡•ƒ”‡‹…Ž—†‡†‹•ƒŽƒ”‹‡•ƒ†™ƒ‰‡•’ƒ›ƒ„Ž‡ǡ ™‘”‡”•ǯ…‘’‡•ƒ–‹‘ƒ†‘–Š‡”Ž‘‰Ǧ–‡”Ž‹ƒ„‹Ž‹–‹‡•‹–Š‡ƒ……‘’ƒ›‹‰…‘•‘Ž‹†ƒ–‡†•–ƒ–‡‡–•‘ˆ‡–’‘•‹–‹‘Ǥ NOTE9–BONDSPAYABLE ‘†•’ƒ›ƒ„Ž‡…‘•‹•–•‘ˆ–Š‡ˆ‘ŽŽ‘™‹‰‘„Ž‹‰ƒ–‹‘•ȋ‹–Š‘—•ƒ†•Ȍǣ

Žƒ‹‘ ‘•’‹–ƒŽ‹•–”‹…–ʹͲͲ͸

‡‡”ƒŽ„Ž‹‰ƒ–‹‘‘†• ”‹…‹’ƒŽ ƒ‘”–‹œ‡†’”‡‹— Žƒ‹‘ ‘•’‹–ƒŽ‡˜‡—‡‘†• ‡”‹‡•ʹͲͲͺ ”‹…‹’ƒŽ ƒ‘”–‹œ‡†’”‡‹— ‡”‹‡•ʹͲͲͻ ”‹…‹’ƒŽ ‘–ƒŽŽ‘‰Ǧ–‡”†‡„– ‡••…—””‡–ƒ–—”‹–‹‡• ƒ–—”‹–‹‡•†—‡ƒˆ–‡”‘‡›‡ƒ”

June30, 2013

2012

̈́ ͳͶͳǡ͵ͳͲ ͹Ͳ͵

̈́ ͳͶʹǡʹͺͲ  ͺͺͻ

ͳ͵ͶǡͳͲͲ Ͷ͸ͷ

ͳ͵͸ǡͻͷͲ  ͸Ͳͻ

 ͷͲǡͲͲͲ

 ͷͲǡͲͲͲ

͵ʹ͸ǡͷ͹ͺ

͵͵Ͳǡ͹ʹͺ

Ͷǡͷͻʹ

ͶǡͳͷͲ

̈́ ͵ʹͳǡͻͺ͸

̈́ ͵ʹ͸ǡͷ͹ͺ

 ƒ› ʹͲͲͺǡ –Š‡ ‘•’‹–ƒŽ ‹••—‡† ̈́ͳͶ͹ǡͷʹͷǡͲͲͲ ‘ˆ ƒ–ƒ Žƒ”ƒ ‘—–› ‹ƒ…‹‰ —–Š‘”‹–› •—”‡† ‡˜‡—‡ ‘†•ǡ ‡”‹‡• ʹͲͲ͹ǡ ǡ ƒ† ǡ ƒ– ”ƒ–‡• ‘ˆ ͷǤͳʹͷΨ –‘ ͷǤ͹ͷͲΨǡ –‘ ƒ†˜ƒ…‡ ”‡ˆ—† ̈́ͳͶ͹ǡͷʹͷǡͲͲͲ ‘ˆ –Š‡ ‘—–•–ƒ†‹‰ ‘”‹‰‹ƒŽ ‡”‹‡•ʹͲͲ͹ǡǡƒ†Ǥ”‹…‹’ƒŽƒ–—”‹–‹‡•‘–Š‡•‡”‹ƒŽ„‘†•”ƒ‰‡ˆ”‘̈́ͻͷͲǡͲͲͲ‹ʹͲͳ͵–‘̈́Ͷǡ͹ʹͷǡͲͲͲ‹ʹͲͶͳǡ ƒ†ƒ”‡†—‡ƒ—ƒŽŽ›‘ ‡„”—ƒ”›ͳǤ Revenue Bonds, Series 2009 Ȃ  ’”‹Ž ʹͲͲͻǡ –Š‡ ‘•’‹–ƒŽ ‹••—‡† ̈́ͷͲǡͲͲͲǡͲͲͲ ‘ˆ ƒ–ƒ Žƒ”ƒ ‘—–› ‹ƒ…‹‰ —–Š‘”‹–› •—”‡†‡˜‡—‡‘†•ǡ‡”‹‡•ʹͲͲͻ–‘ˆ—†…‘’Ž‡–‹‘‘ˆ–Š‡ ‘•’‹–ƒŽ‡’Žƒ…‡‡–…‘•–”—…–‹‘’”‘Œ‡…–Ǥ

–‡”‡•– ‘ –Š‡ ‘†• ‹• ’ƒ›ƒ„Ž‡ ‘ –Š‡ —•‹‡•• ƒ› ‹‡†‹ƒ–‡Ž› ˆ‘ŽŽ‘™‹‰ –Š‡ ƒ’’Ž‹…ƒ„Ž‡ ‡ƒ”‡–‹‰ ‡”‹‘†Ǥ ”‹…‹’ƒŽ ƒ–—”‹–‹‡• ‘ –Š‡ „‘†• ”ƒ‰‡ ˆ”‘ ̈́ͳͲͲǡͲͲͲ ‹ ʹͲʹͷ –‘ ̈́ͳͲǡͻʹͲǡͲͲͲ ‹ ʹͲͶͶǡ ƒ† ƒ”‡ †—‡ ƒ—ƒŽŽ› ‘ ‡„”—ƒ”›ͳǤ Š‡ʹͲͲͻ‡”‹‡•‡˜‡—‡„‘†ƒ‰”‡‡‡–…‘–ƒ‹•˜ƒ”‹‘—•”‡•–”‹…–‹˜‡…‘˜‡ƒ–•™Š‹…Š‹…Ž—†‡ǡƒ‘‰‘–Š‡”–Š‹‰•ǡ ‹‹— †‡„– •‡”˜‹…‡ …‘˜‡”ƒ‰‡ǡ ƒ‹–‡ƒ…‡ ‘ˆ ‹‹— Ž‹“—‹†‹–›ǡ ƒ† ”‡“—‹”‡‡– –‘ ƒ‹–ƒ‹ …‡”–ƒ‹ ˆ‹ƒ…‹ƒŽ ”ƒ–‹‘•Ǥ



Balanceat June30,2012

Payments

Balanceat June30,2013

̈́ ͳͶ͵ǡͳ͸ͻ ͳͺ͹ǡͷͷͻ

̈́ ͳǡͳͷͶ ʹǡͻͻͷ

̈́ ͳͶʹǡͲͳͷ ͳͺͶǡͷ͸Ͷ

̈́ ͵͵Ͳǡ͹ʹͺ

̈́ ͶǡͳͶͻ

̈́ ͵ʹ͸ǡͷ͹ͻ

2012

‡‡”ƒŽ‘„Ž‹‰ƒ–‹‘„‘†• ‡˜‡—‡„‘†•

Š‡‘†•ƒ”‡‰‡‡”ƒŽ‘„Ž‹‰ƒ–‹‘•‘ˆ–Š‡‹•–”‹…–’ƒ›ƒ„Ž‡ˆ”‘ƒ†˜ƒŽ‘”‡–ƒš‡•Ǥƒ›‡–‘ˆ’”‹…‹’ƒŽǡ‹–‡”‡•–ƒ† ƒ–—”‹–›˜ƒŽ—‡‘ˆ–Š‡‘†•ǡ™Š‡†—‡ǡ‹•‹•—”‡†„›ƒ—‹…‹’ƒŽ„‘†‹•—”ƒ…‡’‘Ž‹…›Ǥ RevenueBonds,Series2007Ȃƒ…Š‡”‹‡•‘ˆ‘†•‹‹–‹ƒŽŽ›„‘”‡‹–‡”‡•–ƒ–—…–‹‘ƒ–‡•ˆ‘”•—……‡••‹˜‡•‡˜‡Ǧ†ƒ› —…–‹‘‡”‹‘†•Ǥ –‡”‡•–‘–Š‡‘†•™ƒ•’ƒ›ƒ„Ž‡‘–Š‡—•‹‡••ƒ›‹‡†‹ƒ–‡Ž›ˆ‘ŽŽ‘™‹‰–Š‡ƒ’’Ž‹…ƒ„Ž‡—…–‹‘ ‡”‹‘†Ǥ

2013

‡‡”ƒŽ‘„Ž‹‰ƒ–‹‘„‘†• ‡˜‡—‡„‘†•

ELCAMINOHEALTHCAREDISTRICT NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     Š‡—””‡– –‡”‡•–‘†•ƒ–—”‹‰‘‘”„‡ˆ‘”‡—‰—•–ͳǡʹͲͳ͸ǡƒ”‡‘–•—„Œ‡…––‘”‡†‡’–‹‘ǤŠ‡—””‡– –‡”‡•– ‘†•ƒ–—”‹‰‘‘”ƒˆ–‡”—‰—•–ͳǡʹͲͳ͹ǡƒ›„‡”‡†‡‡‡†’”‹‘”–‘–Š‡‹””‡•’‡…–‹˜‡•–ƒ–‡†ƒ–—”‹–›†ƒ–‡•ǡƒ––Š‡ ‘’–‹‘ ‘ˆ–Š‡ ‹•–”‹…–ǡ ˆ”‘ƒ› •‘—”…‡ ‘ˆ ƒ˜ƒ‹Žƒ„Ž‡ ˆ—†•ǡ ƒ• ƒ ™Š‘Ž‡ ‘” ‹ ’ƒ”– ‘ ƒ› †ƒ–‡ ‘ ‘” ƒˆ–‡” ‡„”—ƒ”›ͳǡ ʹͲͳ͹ǡ ƒ– ƒ ”‡†‡’–‹‘ ’”‹…‡ ‡“—ƒŽ –‘ –Š‡ ’”‹…‹’ƒŽ ƒ‘—– ‘ˆ –Š‡ —””‡– –‡”‡•– ‘†• …ƒŽŽ‡† ˆ‘” ”‡†‡’–‹‘ǡ –‘‰‡–Š‡”™‹–Š‹–‡”‡•–ƒ……”—‡†–Š‡”‡‘–‘–Š‡†ƒ–‡‘ˆ”‡†‡’–‹‘ǡ™‹–Š‘—–’”‡‹—Ǥ

Balanceat June30,2011

Payments

Balanceat June30,2012

̈́ ͳͶͶǡͺ͹͸ ͳͻͲǡͶ͸ʹ

̈́ ͳǡ͹Ͳ͹ ʹǡͻͲ͵

̈́ ͳͶ͵ǡͳ͸ͻ ͳͺ͹ǡͷͷͻ

̈́ ͵͵ͷǡ͵͵ͺ

̈́ Ͷǡ͸ͳͲ

̈́ ͵͵Ͳǡ͹ʹͺ

 General obligation bonds Ȃ ’‘ ˜‘–‡” ƒ’’”‘˜ƒŽǡ ‹ ‘˜‡„‡”ʹͲͲ͵ǡ –Š‡ ‹•–”‹…– ‹••—‡† ‹ ʹͲͲ͸ǡ ̈́ͳͶͺǡͲͲͲǡͲͲͲ ’”‹…‹’ƒŽ ƒ‘—– ‘ˆ ‡‡”ƒŽ „Ž‹‰ƒ–‹‘ ‘†•ǡ ™Š‹…Š …‘•‹•–• ‘ˆ ̈́ͳͳͷǡ͸͸ͷǡͲͲͲ ‘ˆ —””‡– –‡”‡•– ‘†•ǡ ƒ† ̈́͵ʹǡ͵͵ͷǡͲͲͲ ‘ˆƒ’‹–ƒŽ’’”‡…‹ƒ–‹‘‘†•Ǥ –‡”‡•–‘–Š‡—””‡– –‡”‡•–‘†•‹•’ƒ›ƒ„Ž‡ •‡‹ƒ—ƒŽŽ›ƒ–”ƒ–‡• ”ƒ‰‹‰ ˆ”‘ ͶΨ –‘ ͷΨ ƒ† ’”‹…‹’ƒŽ ƒ–—”‹–‹‡• ”ƒ‰‹‰ ˆ”‘ ̈́ͺͶͷǡͲͲͲ ‹ ʹͲͳͲ –‘ ̈́ͳͺǡͲͷͲǡͲͲͲ ‹ ʹͲ͵͸ ƒ”‡ †—‡ ƒ—ƒŽŽ›‘—‰—•–ͳǤ –‡”‡•–ƒ–”ƒ–‡•”ƒ‰‹‰ˆ”‘ͶǤ͵ͺΨ–‘ͶǤͶͺΨƒ†’”‹…‹’ƒŽ‘ˆ–Š‡ƒ’‹–ƒŽ’’”‡…‹ƒ–‹‘‘†• ƒ”‡’ƒ›ƒ„Ž‡‘Ž›ƒ–ƒ–—”‹–›Ǥ

Š‡„‘†•ƒ”‡•‡…—”‡†„›ƒ’Ž‡†‰‡‘ˆ‰”‘••”‡˜‡—‡•–‘ƒ †‡–—”‡‘ˆ”—•–ȋ †‡–—”‡Ȍ†ƒ–‡†ƒ”…Šͳ͸ǡʹͲͲ͹ǤŠ‡

†‡–—”‡…‘–ƒ‹•…‡”–ƒ‹…‘˜‡ƒ–•–Šƒ–ǡƒ‘‰‘–Š‡”–Š‹‰•ǡ”‡“—‹”‡–Š‡‹•–”‹…––‘†‡’‘•‹–ƒŽŽ ”‘••‡˜‡—‡•‘ˆ –Š‡ ‘•’‹–ƒŽ ƒ• •‘‘ ƒ• ’”ƒ…–‹…ƒ„Ž‡ —’‘ ”‡…‡‹’–Ǥ Š‡ †‡–—”‡ ƒŽ•‘ ”‡“—‹”‡• –Š‡ ‘•’‹–ƒŽ –‘ ƒ‹–ƒ‹ ƒ Ž‘‰Ǧ–‡” †‡„–•‡”˜‹…‡…‘˜‡”ƒ‰‡”ƒ–‹‘‘ˆͳǤͳͷ–‘ͳǤ ƒ‹Ž—”‡–‘…‘’Ž›™‹–Š–Š‡”‡•–”‹…–‹˜‡…‘˜‡ƒ–•‘ˆ–Š‡ †‡–—”‡…‘—Ž†”‡•—Ž– ‹ƒŽŽ‘ˆ–Š‡—’ƒ‹†’”‹…‹’ƒŽƒ†ƒ……”—‡†‹–‡”‡•–‘ˆ–Š‡„‘†•„‡…‘‹‰†—‡‹‡†‹ƒ–‡Ž›ǡƒ––Š‡‘’–‹‘‘ˆ–Š‡–”—•–‡‡Ǥ Letter of credit Ȃ  ƒ”…ŠʹͲͲͻǡ ‹ …‘‡…–‹‘ ™‹–Š –Š‡ ‹••—ƒ…‡ ‘ˆ –Š‡ ʹͲͲͻ ‡”‹‡• ‡˜‡—‡ „‘†•ǡ –Š‡ ‘•’‹–ƒŽ ‘„–ƒ‹‡†ƒ‹””‡˜‘…ƒ„Ž‡‡––‡”‘ˆ”‡†‹–‹••—‡†„›ƒ„ƒˆ‘”̈́ͷͲǡͲͲͲǡͲͲͲǤŠ‹•‡––‡”‘ˆ”‡†‹–‡š’‹”‡•’”‹ŽʹͲͳ͹ƒ† ”‡“—‹”‡•–Š‡ ‘•’‹–ƒŽ–‘ƒ‹–ƒ‹ƒŽ‘‰Ǧ–‡”†‡„–•‡”˜‹…‡•…‘˜‡”ƒ‰‡”ƒ–‹‘‘ˆͳǤʹͲ–‘ͳǤ InterestcostsȂ –‡”‡•–…‘•–•‹…—””‡†ˆ‘”–Š‡›‡ƒ”•‡†‡† —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǡƒ”‡ȋ‹–Š‘—•ƒ†•Ȍǣ June30, ’‡”ƒ–‹‰‡š’‡•‡ ‘‘’‡”ƒ–‹‰‡š’‡•‡

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2012

̈́ ͹ǡͶͺ͸ Ͷǡ͹ͺ͹

̈́ ͹ǡ͸Ͳ͵ Ͷǡͺʹͺ

̈́ͳʹǡʹ͹͵

̈́ ͳʹǡͶ͵ͳ



Page34

Page33

52

2013


CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     ‡„–•‡”˜‹…‡”‡“—‹”‡‡–•ˆ‘”„‘†•’ƒ›ƒ„Ž‡ƒ”‡ƒ•ˆ‘ŽŽ‘™•ȋ‹–Š‘—•ƒ†•Ȍǣ YearEnding June30, ʹͲͳͶ ʹͲͳͷ ʹͲͳ͸ ʹͲͳ͹ ʹͲͳͺ ʹͲͳͻǦʹͲʹ͵ ʹͲʹͶǦʹͲʹͺ ʹͲʹͻǦʹͲ͵͵ ʹͲ͵ͶǦʹͲ͵ͺ ʹͲ͵ͻǦʹͲͶ͵ ʹͲͶͶǦʹͲͶͷ

GeneralObligationBonds Principal Interest

NOTE10–CAPITALLEASEOBLIGATIONS RevenueBonds Principal Interest

̈́ͳǡ͵ͲͲ ͳǡ͸͸ͷ ʹǡͲ͸ͷ ʹǡͶͺͷ ʹǡͻͷͲ ͵ͲǡͲʹͳ ͳ͹ǡͻ͹͹ ͵͵ǡͶͶ͹ ͶͻǡͶͲͲ  Ǧ  Ǧ

̈́ ͶǡͻͲ͸ ͶǡͺͶͺ Ͷǡ͹͹͵ Ͷǡ͸ͻͲ Ͷǡͷ͹ͺ  ʹ͹ǡ͸ͺ͹  Ͷ͵ǡͳͷͻ  ͵ͳǡͳʹ͵ ͹ǡ͵Ͳͺ  Ǧ  Ǧ

̈́͵ǡͲͲͲ ͵ǡͲ͹ͷ ͵ǡʹͲͲ  ͷ͵ǡʹ͹ͷ ͵ǡ͵ͷͲ  ͳͺǡ͹ͲͲ  ʹʹǡͲͷͲ  ʹͷǡͻ͹ͷ  ͵ͲǡͷͷͲ  ʹͲǡͻʹͷ Ǧ

̈́ ͺǡͻͶ͹ ͺǡ͹ͻ͹ ͺǡ͸ͶͶ ͺǡͶͺͶ ͺǡ͵ʹͲ  ͵ͺǡ͹ͷ͵  ͵͵ǡʹͲͳ  ʹ͸ǡ͵ͻͲ  ͳ͹ǡͺͻͻ ͹ǡͷͳ͸  ͵Ͷ͹

̈́ͳͶͳǡ͵ͳͲ

̈́ ͳ͵͵ǡͲ͹ʹ

̈́ ͳͺͶǡͳͲͲ

̈́ ͳ͸͹ǡʹͻͺ

 InterestrateswapsȂƒ”…Š͹ǡʹͲͲ͹ǡ–Š‡ ‘•’‹–ƒŽ‡–‡”‡†‹–‘–Š”‡‡‹–‡”‡•–”ƒ–‡•™ƒ’ƒ‰”‡‡‡–•‹…‘‡…–‹‘ ™‹–Š–Š‡‹••—ƒ…‡‘ˆ–Š‡‡”‹‡•ʹͲͲ͹‡˜‡—‡‘†•ǤŠ‡‹–‡–‹‘‘ˆ–Š‡•™ƒ’‹•–‘…”‡ƒ–‡†‡„–™‹–Šƒ•›–Š‡–‹…ǡˆ‹š‡† ‹–‡”‡•–”ƒ–‡‘–Š‡˜ƒ”‹ƒ„Ž‡Ǧ”ƒ–‡‡˜‡—‡‘†•ǤŠ‡•™ƒ’•™‡”‡‡ˆˆ‡…–‹˜‡ƒ”…Šʹ͵ǡʹͲͲ͹ǡ™‹–Šƒ–‡”‹ƒ–‹‘†ƒ–‡‘ˆ ‡„”—ƒ”›ͳǡ ʹͲͶͳǡ ƒ† ‘–‹‘ƒŽ ƒ‘—–• ‘ˆ ̈́ͷͲ‹ŽŽ‹‘ ‡ƒ…Šǡ –Š‡•‡ –‡”• ƒ–…Š –Š‡ –‡”• ‘ˆ –Š‡ —†‡”Ž›‹‰ ‡”‹‡• ʹͲͲ͹ ‡˜‡—‡ ‘†•Ǥ †‡” ‡ƒ…Š •™ƒ’ –”ƒ•ƒ…–‹‘ǡ –Š‡ ‘•’‹–ƒŽ ’ƒ›• ƒ ˆ‹š‡† ”ƒ–‡ ‘ˆ ‹–‡”‡•– ‘ˆ ͵ǤʹͲͶΨ ƒ† –Š‡ …‘—–‡”’ƒ”–› ’ƒ›• ƒ ˜ƒ”‹ƒ„Ž‡ ”ƒ–‡ ‘ˆ ‹–‡”‡•– ‡“—ƒŽ –‘ –Š‡ •— ‘ˆ ȋ‹Ȍ ͷ͸Ψ ‘ˆ Ǧ Ǧ ’Ž—• ȋ‹‹Ȍ Ǥʹ͵ΨǤ  ƒ”…ŠʹͲͲͺǡ –Š‡ ‘•’‹–ƒŽ ‘ƒ”† †‹”‡…–‡† ƒƒ‰‡‡– –‘ –‡”‹ƒ–‡ –Š‡ ˆŽ‘ƒ–‹‰ –‘ ˆ‹š‡† ‹–‡”‡•– ”ƒ–‡ •™ƒ’• ™Š‡ ‡…‘‘‹…ƒŽŽ›’”—†‡–‹…‘‡…–‹‘™‹–Š–Š‡”‡ˆ—†‹‰‘ˆ–Š‡‹”‡”‹‡•ʹͲͲ͹‡˜‡—‡‘†•Ǥ ‡…‡„‡”ʹͲͲͻǡ–™‘‘ˆ –Š‡–Š”‡‡•™ƒ’•™‡”‡–‡”‹ƒ–‡†ǤŠ‡ˆƒ‹”˜ƒŽ—‡‘ˆ–Š‡”‡ƒ‹‹‰•™ƒ’‹•ƒŽ‹ƒ„‹Ž‹–›‘ˆ̈́͸ǡ͸͹ͷǡͲͲͲƒ– —‡͵ͲǡʹͲͳ͵ǡ ƒ† ̈́ͳͲǡ͹͵͹ǡͲͲͲ ƒ– —‡͵Ͳǡ ʹͲͳʹǡ ‹…Ž—†‡† ‹ ‘–Š‡” Ž‘‰Ǧ–‡” ‘„Ž‹‰ƒ–‹‘• ‹ –Š‡ …‘•‘Ž‹†ƒ–‡† •–ƒ–‡‡–• ‘ˆ ‡– ’‘•‹–‹‘Ǥ Risks associated with the swap agreements Ȃ ”‘ –Š‡ ‘•’‹–ƒŽǯ• ’‡”•’‡…–‹˜‡ǡ –Š‡ ˆ‘ŽŽ‘™‹‰ ”‹•• ƒ”‡ ‰‡‡”ƒŽŽ› ƒ••‘…‹ƒ–‡†™‹–Š•™ƒ’ƒ‰”‡‡‡–•ǣ CreditriskȂŠ‡…‘—–‡”’ƒ”–›„‡…‘‡•‹•‘Ž˜‡–‘”‹•‘–Š‡”™‹•‡‘–ƒ„Ž‡–‘’‡”ˆ‘”‹–•ˆ‹ƒ…‹ƒŽ‘„Ž‹‰ƒ–‹‘•Ǥ  –Š‡ ‡˜‡– –Š‡ …‘—–‡”’ƒ”–› „‡…‘‡ ‹•‘Ž˜‡– ‘” –Š‡‹” …”‡†‹– ”ƒ–‹‰ ˆƒŽŽ• „‡Ž‘™ ǦȀƒƒʹ –Š‡ ‘•’‹–ƒŽ Šƒ• –Š‡ ”‹‰Š––‘–‡”‹ƒ–‡–Š‡•™ƒ’Ǥ’‘‡š‡”…‹•‡‘ˆ‡ƒ”Ž›–‡”‹ƒ–‹‘–Š‡ƒ‘—–•†—‡ˆ”‘‘”–‘–Š‡…‘—–‡”’ƒ”–›™‹ŽŽ „‡†‡–‡”‹‡†„›–Š‡ƒ”‡–’”‹…‹‰‘ˆ–Š‡•™ƒ’•ƒ––Š‡–‹‡‘ˆ–‡”‹ƒ–‹‘Ǥ Termination risk Ȃ Š‡ ‘•’‹–ƒŽ ‘” …‘—–‡”’ƒ”–› ƒ› –‡”‹ƒ–‡ –Š‡ •™ƒ’ ‹ˆ –Š‡ ‘–Š‡” ’ƒ”–› ˆƒ‹Ž• –‘ ’‡”ˆ‘” —†‡”–Š‡–‡”•‘ˆ–Š‡…‘–”ƒ…–Ǥ ˆǡƒ––Š‡–‹‡‘ˆ–Š‡–‡”‹ƒ–‹‘ǡ–Š‡•™ƒ’Šƒ•ƒ‡‰ƒ–‹˜‡ˆƒ‹”˜ƒŽ—‡ǡ–Š‡ ‘•’‹–ƒŽ ™‘—Ž†„‡Ž‹ƒ„Ž‡–‘–Š‡…‘—–‡”’ƒ”–›ˆ‘”–Šƒ–’ƒ›‡–Ǥ

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS    

ƒ’‹–ƒŽŽ‡ƒ•‡‘„Ž‹‰ƒ–‹‘•‘—–•–ƒ†‹‰ƒ•‘ˆ —‡͵ͲǡʹͲͳ͵ǡƒ”‡ƒ•ˆ‘ŽŽ‘™•ȋ‹–Š‘—•ƒ†•Ȍǣ Description

Maturity

InterestRates

ƒ’‹–ƒŽŽ‡ƒ•‡•Ǧ‡“—‹’‡– ‡–‘ˆ‹–‡”‡•– ‡••…—””‡–’‘”–‹‘

‡’–‡„‡”ʹͲͳͳǦ ƒ›ʹͲͳͶ

ͲΨ–‘͹Ǥ͹ͷΨ

OriginalIssue

June30,2013

̈́ ʹͷǡ͹ͳͳ

̈́Ͷǡͻ͸ͳ Ͷǡͻ͸ͳ ̈́Ǧ

Description

June30,2012

ƒ’‹–ƒŽŽ‡ƒ•‡•Ǧ‡“—‹’‡–

̈́ͳͲǡͲͷʹ

Description

June30,2011

ƒ’‹–ƒŽŽ‡ƒ•‡•Ǧ‡“—‹’‡–

̈́ͳͷǡͺͷ͵

Increases ̈́Ǧ Increases ̈́Ǧ

Decreases

Outstanding June30,2013

̈́ ͷǡͲͻͳ

̈́ Ͷǡͻ͸ͳ

Decreases

Outstanding June30,2012

̈́ ͷǡͺͲͳ

̈́ͳͲǡͲͷʹ



‡„–•‡”˜‹…‡”‡“—‹”‡‡–•ˆ‘”…ƒ’‹–ƒŽŽ‡ƒ•‡‘„Ž‹‰ƒ–‹‘•ƒ”‡ƒ•ˆ‘ŽŽ‘™•ȋ‹–Š‘—•ƒ†•Ȍǣ PeriodEndingJune30, ʹͲͳͶ ‡••…—””‡–’‘”–‹‘

̈́ Ͷǡͻ͸ͳ Ͷǡͻ͸ͳ ̈́Ǧ

 NOTE11–RESTRICTEDNETPOSITION ‡•–”‹…–‡† ‡– ’‘•‹–‹‘ …‘•‹•–• ‘ˆ †‘‘”Ǧ”‡•–”‹…–‡† …‘–”‹„—–‹‘• ƒ† ‰”ƒ–• ƒ† …ƒ•Š ”‡•–”‹…–‡† ˆ‘” ”‡‰—Žƒ–‘”› ”‡“—‹”‡‡–•ǡ™Š‹…Šƒ”‡–‘„‡—•‡†ƒ•ˆ‘ŽŽ‘™•ȋ‹–Š‘—•ƒ†•Ȍǣ 2013 2012 Šƒ”‹–›ƒ†‘–Š‡” †‘™‡–•

̈́ ͷǡʹͻ͹ ͳǡ͹͵ͷ

̈́ ͶǡͺʹͲ ʹǡͲͲ͹

‡•–”‹…–‡†„›†‘‘”ˆ‘”•’‡…‹ˆ‹…—•‡•

͹ǡͲ͵ʹ

͸ǡͺʹ͹

‡•–”‹…–‡†„›‡’ƒ”–‡–‘ˆƒƒ‰‡† ‡ƒŽ–Šƒ”‡

ͷͲ

ͷͲ

‘–ƒŽ”‡•–”‹…–‡†‡–’‘•‹–‹‘

̈́ ͹ǡͲͺʹ

̈́ ͸ǡͺ͹͹

 ‡”ƒ‡–Ž› ”‡•–”‹…–‡† …‘–”‹„—–‹‘• ȋ‡†‘™‡–•Ȍ ”‡ƒ‹ ‹–ƒ…–ǡ ™‹–Š –Š‡ ‡ƒ”‹‰• ‘ •—…Š ˆ—†• ’”‘˜‹†‹‰ ƒ ‘‰‘‹‰•‘—”…‡‘ˆ”‡˜‡—‡–‘„‡—•‡†’”‹ƒ”‹Ž›ˆ‘”‡†—…ƒ–‹‘Ǥ Š‡ ‘—†ƒ–‹‘‹•–Š‡„‡‡ˆ‹…‹ƒ”›‘ˆ‰‹ˆ–•–Š”‘—‰Š–‡•–ƒ‡–ƒ”›ƒ†‘–Š‡”–”—•–•‹™Š‹…Š–Š‡‰‹ˆ–ƒ••‡–•ƒ”‡Š‡Ž†„› –Š‡–”—•–‡‡•ƒ†ƒ†‹‹•–‡”‡†ˆ‘”–Š‡„‡‡ˆ‹–‘ˆ–Š‡ ‘—†ƒ–‹‘ƒ† ‘•’‹–ƒŽǤ‘‘Ž‡†‹…‘‡–”—•–ƒ••‡–•ƒ”‡†‘ƒ–‡† –‘–Š‡ ‘—†ƒ–‹‘—†‡”Ž‹ˆ‡ƒ—‹–›ƒ‰”‡‡‡–•ǤŠ‡†‘‘”•ƒ‹–ƒ‹–Š‡”‹‰Š––‘‹…‘‡‡ƒ”‡†‘–Š‡ƒ••‡–•†—”‹‰ –Š‡‹”Ž‹ˆ‡–‹‡ƒ†ǡ‹•‘‡…ƒ•‡•ǡ†—”‹‰–Š‡Ž‹ˆ‡–‹‡‘ˆ–Š‡‹”•—”˜‹˜‘”•Ǥ

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53


CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     LeasecommitmentsȂŠ‡‹•–”‹…–‹•‘„Ž‹‰ƒ–‡†ˆ‘”Žƒ†ƒ†‘ˆˆ‹…‡”‡–ƒŽ—†‡”–Š‡–‡”•‘ˆ˜ƒ”‹‘—•‘’‡”ƒ–‹‰Ž‡ƒ•‡ ƒ‰”‡‡‡–•Ǥ ‘ŽŽ‘™‹‰‹•ƒ•…Š‡†—Ž‡„››‡ƒ”‘ˆˆ—–—”‡‹‹—Ž‡ƒ•‡’ƒ›‡–•—†‡”‘’‡”ƒ–‹‰Ž‡ƒ•‡•ƒ•‘ˆ —‡͵Ͳǡ ʹͲͳ͵ȋ‹–Š‘—•ƒ†•Ȍǣ OperatingLease Lease NetLease Commitments Income Benefit

NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     Ž–Š‘—‰Š –Š‡•‡ ‰‹ˆ–• ƒ”‡ ‹””‡˜‘…ƒ„Ž‡ǡ ƒ’’Ž‹…ƒ„Ž‡  ’”‘‘—…‡‡–• ’‡”‹– ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡– ”‡…‘‰‹–‹‘ ‘Ž› —’‘•ƒ–‹•ˆƒ…–‹‘‘ˆƒŽŽ‡Ž‹‰‹„‹Ž‹–›”‡“—‹”‡‡–•Ǥ‹…‡–Š‡ ‘—†ƒ–‹‘‹•‘–‡Ž‹‰‹„Ž‡–‘”‡…‡‹˜‡–Š‡ƒ••‡–•Š‡Ž†‹–Š‡ –”—•–• —–‹Ž ƒ–—”‹–› ‘ˆ –Š‡ –”—•–• ȋ‰‡‡”ƒŽŽ› –Š‡ †‘‘”ǯ• †‡ƒ–ŠȌǡ Ž‘‰Ǧ–‡” ”‡…‡‹˜ƒ„Ž‡• ˆ”‘ …Šƒ”‹–ƒ„Ž‡ ”‡ƒ‹†‡” –”—•–•ƒ†’‘‘Ž‡†‹…‘‡ˆ—†•ƒ”‡‘–”‡…‘‰‹œ‡†‹–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•Ǥ Š‡–‘–ƒŽ‘ˆ–Š‡•‡…‘–”‹„—–‹‘•ǡ‡ƒ•—”‡†ƒ––Š‡ˆƒ‹”˜ƒŽ—‡‘ˆƒ••‡–•–‘„‡”‡…‡‹˜‡†ǡ†‹•…‘—–‡†–‘–Š‡‹”‡•–‹ƒ–‡†‡– ’”‡•‡–˜ƒŽ—‡ǡ‹•̈́ͳǡͻͻͲǡͲͲͲƒ†̈́ͳǡ͹͸ͳǡͲͲͲǡ”‡•’‡…–‹˜‡Ž›ǡƒ– —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǤŠ‡ƒ’’Ž‹…ƒ„Ž‡ˆ‡†‡”ƒŽ†‹•…‘—– ”ƒ–‡ˆ‘” —‡ʹͲͳ͵ƒ†ʹͲͳʹǡ‘ˆ͵ǤͳͶΨƒ†͵Ǥ͹ͳΨǡ”‡•’‡…–‹˜‡Ž›ǡ’‡”ƒ—ƒ†–Š‡–ƒ†ƒ”†”†‹ƒ”›‘”–ƒŽ‹–›ƒ–‡ ƒ„Ž‡™‡”‡—•‡†–‘ƒ””‹˜‡ƒ––Š‡’”‡•‡–˜ƒŽ—‡Ǥ

ʹͲͳͶ ʹͲͳͷ ʹͲͳ͸ ʹͲͳ͹ ʹͲͳͺ Š‡”‡ƒˆ–‡”

NOTE12–RELATEDPARTYTRANSACTIONS Š‡ ‘•’‹–ƒŽ’ƒ›•˜‡†‘”Ǧ”‡Žƒ–‡†‡š’‡•‡•‘„‡ŠƒŽˆ‘ˆ–Š‡ ‘—†ƒ–‹‘ƒ†‹•”‡‹„—”•‡†ˆ‘”–Š‡•‡…‘•–•‹…—””‡†Ǥ Š‡ ‘•’‹–ƒŽ ƒŽ•‘ ’ƒ›• ‡’Ž‘›‡‡Ǧ”‡Žƒ–‡† ‡š’‡•‡•ǡ ™Š‹…Š ƒ”‡ ”‡‹„—”•‡† „› –Š‡ ‘—†ƒ–‹‘Ǥ Š‡ ‘—†ƒ–‹‘ǯ• ‡’Ž‘›‡‡• ƒŽ•‘ ’ƒ”–‹…‹’ƒ–‡ ‹ –Š‡ …ƒ•ŠǦ„ƒŽƒ…‡ ’‡•‹‘ ’Žƒǡ •’‘•‘”‡† „› –Š‡ ‘•’‹–ƒŽǤ —ŽŽ ˆ‘‘–‘–‡ †‹•…Ž‘•—”‡• ”‡Žƒ–‹‰–‘–Š‡…ƒ•ŠǦ„ƒŽƒ…‡’‡•‹‘’Žƒ‹•‹…Ž—†‡†‹–Š‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ǤŠ‡ ‘•’‹–ƒŽ’‡”ˆ‘”• …‡”–ƒ‹ƒ†‹‹•–”ƒ–‹˜‡ˆ—…–‹‘•‘„‡ŠƒŽˆ‘ˆ–Š‡ ‘—†ƒ–‹‘ˆ‘”™Š‹…Š‘ƒ‘—–•ƒ”‡…Šƒ”‰‡†–‘–Š‡ ‘—†ƒ–‹‘Ǥ• ‘ˆ —‡͵Ͳǡ ʹͲͳ͵ ƒ† ʹͲͳʹǡ –Š‡ ‘—†ƒ–‹‘ Šƒ• ƒ ’ƒ›ƒ„Ž‡ –‘ –Š‡ ‘•’‹–ƒŽ ‹ –Š‡ ƒ‘—– ‘ˆ ̈́͵Ͷ͹ǡ͵͹͵ ƒ† ̈́ͷʹͺǡͺͶ͹ǡ ”‡•’‡…–‹˜‡Ž›Ǥ—”‹‰–Š‡ˆ‹•…ƒŽ›‡ƒ”•ʹͲͳ͵ƒ†ʹͲͳʹǡ–Š‡ ‘—†ƒ–‹‘’ƒ‹†–Š‡ ‘•’‹–ƒŽ̈́ͷǡͻͺͶǡ͸͵ͺƒ†̈́Ͷǡͷ͸ͷǡͷͻͶˆ‘” •—…Š‡š’‡•‡•ǡ”‡•’‡…–‹˜‡Ž›ǡ™Š‹…Š‹…Ž—†‡†ƒ‘—–•ˆ‘”‘’‡”ƒ–‹‘•ǡ„—–ƒŽ•‘†‹•„—”•‡‡–•ˆ”‘‘‘”‡•–”‹…–‡† —†•‹•—’’‘”–‘ˆ ‘•’‹–ƒŽ‘’‡”ƒ–‹‘•ƒ†…ƒ’‹–ƒŽƒ…“—‹•‹–‹‘•Ǥ

̈́ ʹǡʹͶ͵ ʹǡͳͲͷ ͳǡͶͺͳ ͳǡͳͷ͵ ͳǡͳ͵ͻ  ʹ͸ǡͷͲ͹

̈́ ͹ǡ͸Ͷ͵ ͹ǡ͵͹͹ ͸ǡͺʹͳ ͸ǡͲ͵Ͷ Ͷǡͻͺͷ ͸ǡ͵ʹͻ

̈́ ͷǡͶͲͲ ͷǡʹ͹ʹ ͷǡ͵ͶͲ Ͷǡͺͺͳ ͵ǡͺͶ͸  ȋʹͲǡͳ͹ͺȌ

̈́͵Ͷǡ͸ʹͺ

̈́͵ͻǡͳͺͻ

̈́ Ͷǡͷ͸ͳ

 ‘–ƒŽ ”‡–ƒŽ ‡š’‡•‡ ‹ ʹͲͳ͵ ƒ† ʹͲͳʹ ˆ‘” ƒŽŽ ‘’‡”ƒ–‹‰ Ž‡ƒ•‡• ™ƒ• ƒ’’”‘š‹ƒ–‡Ž› ̈́ʹǡ͵͹͸ǡͲͲͲ ƒ† ̈́ʹǡ͵ͶͷǡͲͲͲǡ ”‡•’‡…–‹˜‡Ž›Ǥ RegulatoryenvironmentȂŠ‡Š‡ƒŽ–Š…ƒ”‡‹†—•–”›‹••—„Œ‡…––‘—‡”‘—•Žƒ™•ƒ†”‡‰—Žƒ–‹‘•‘ˆˆ‡†‡”ƒŽǡ•–ƒ–‡ǡƒ† Ž‘…ƒŽ‰‘˜‡”‡–•ǤŠ‡•‡Žƒ™•ƒ†”‡‰—Žƒ–‹‘•‹…Ž—†‡ǡ„—–ƒ”‡‘–‡…‡••ƒ”‹Ž›Ž‹‹–‡†–‘ǡƒ––‡”••—…Šƒ•Ž‹…‡•—”‡ǡ ƒ……”‡†‹–ƒ–‹‘ǡ ‰‘˜‡”‡– Š‡ƒŽ–Š…ƒ”‡ ’”‘‰”ƒ ’ƒ”–‹…‹’ƒ–‹‘ ”‡“—‹”‡‡–•ǡ ”‡‹„—”•‡‡– ˆ‘” ’ƒ–‹‡– •‡”˜‹…‡•ǡ ƒ† ‡†‹…ƒ”‡ ƒ† ‡†‹ǦƒŽ ˆ”ƒ—† ƒ†ƒ„—•‡Ǥ ‡…‡–Ž›ǡ ‰‘˜‡”‡– ƒ…–‹˜‹–› Šƒ• ‹…”‡ƒ•‡† ™‹–Š ”‡•’‡…– –‘ ‹˜‡•–‹‰ƒ–‹‘• ƒ† ƒŽŽ‡‰ƒ–‹‘• …‘…‡”‹‰ ’‘••‹„Ž‡ ˜‹‘Žƒ–‹‘• ‘ˆ ˆ”ƒ—† ƒ† ƒ„—•‡ •–ƒ–—–‡• ƒ† ”‡‰—Žƒ–‹‘• „› Š‡ƒŽ–Š…ƒ”‡ ’”‘˜‹†‡”•Ǥ Š‡‹•–”‹…–‹••—„Œ‡…––‘”‘—–‹‡•—”˜‡›•ƒ†”‡˜‹‡™•„›ˆ‡†‡”ƒŽǡ•–ƒ–‡ƒ†Ž‘…ƒŽ”‡‰—Žƒ–‘”›ƒ—–Š‘”‹–‹‡•ǤŠ‡‹•–”‹…– Šƒ•ƒŽ•‘”‡…‡‹˜‡†‹“—‹”‹‡•ˆ”‘Š‡ƒŽ–Š…ƒ”‡”‡‰—Žƒ–‘”›ƒ—–Š‘”‹–‹‡•”‡‰ƒ”†‹‰‹–•…‘’Ž‹ƒ…‡™‹–ŠŽƒ™•ƒ†”‡‰—Žƒ–‹‘•Ǥ Ž–Š‘—‰Š–Š‡‹•–”‹…– ƒƒ‰‡‡– ‹• ‘– ƒ™ƒ”‡ ‘ˆƒ› ˜‹‘Žƒ–‹‘• ‘ˆŽƒ™•ƒ† ”‡‰—Žƒ–‹‘•ǡ ‹– Šƒ• ”‡…‡‹˜‡†…‘””‡…–‹˜‡ ƒ…–‹‘ ”‡“—‡•–• ƒ• ƒ ”‡•—Ž– ‘ˆ …‘’Ž‡–‡† ƒ† ‘Ǧ‰‘‹‰ •—”˜‡›• ˆ”‘ ƒ’’Ž‹…ƒ„Ž‡ ”‡‰—Žƒ–‘”› ƒ—–Š‘”‹–‹‡•Ǥ ƒƒ‰‡‡– …‘–‹—ƒŽŽ› ™‘”• ‹ ƒ –‹‡Ž› ƒ‡” –‘ ‹’Ž‡‡– ‘’‡”ƒ–‹‘ƒŽ …Šƒ‰‡• ƒ† ’”‘…‡†—”‡• –‘ ƒ††”‡•• ƒŽŽ …‘””‡…–‹˜‡ ƒ…–‹‘”‡“—‡•–•ˆ”‘”‡‰—Žƒ–‘”›ƒ—–Š‘”‹–‹‡•Ǥ”‡ƒ…Š‡•‘ˆ–Š‡•‡Žƒ™•ƒ†”‡‰—Žƒ–‹‘•ƒ†‘Ǧ…‘’Ž‹ƒ…‡™‹–Š•—”˜‡› …‘””‡…–‹˜‡ ƒ…–‹‘ ”‡“—‡•–• …‘—Ž† ”‡•—Ž– ‹ ‡š’—Ž•‹‘ ˆ”‘ ‰‘˜‡”‡– Š‡ƒŽ–Š…ƒ”‡ ’”‘‰”ƒ• –‘‰‡–Š‡” ™‹–Š –Š‡ ‹’‘•‹–‹‘‘ˆ•‹‰‹ˆ‹…ƒ–ˆ‹‡•ƒ†’‡ƒŽ–‹‡•ǡƒ•™‡ŽŽƒ••‹‰‹ˆ‹…ƒ–”‡’ƒ›‡–•ˆ‘”’ƒ–‹‡–•‡”˜‹…‡•’”‡˜‹‘—•Ž›„‹ŽŽ‡†Ǥ ‘’Ž‹ƒ…‡™‹–Š•—…ŠŽƒ™•ƒ†”‡‰—Žƒ–‹‘•…ƒ„‡•—„Œ‡…––‘ˆ—–—”‡‰‘˜‡”‡–”‡˜‹‡™ƒ†‹–‡”’”‡–ƒ–‹‘ǡƒ•™‡ŽŽƒ• ”‡‰—Žƒ–‘”›ƒ…–‹‘•—‘™‘”—ƒ••‡”–‡†ƒ––Š‹•–‹‡Ǥ

 —‡ʹͲͳʹǡ–Š‡ ‘•’‹–ƒŽ„‘ƒ”†ƒ’’”‘˜‡†–Š‡ˆ—†‹‰‘ˆ–Š‡ ‘—†ƒ–‹‘ǯ••ƒŽƒ”‹‡•ǡ™ƒ‰‡•ǡƒ†„‡‡ˆ‹–•ˆ‘”ˆ‹•…ƒŽ›‡ƒ” ʹͲͳ͵ǡ–Š—•ƒŽ‘‰™‹–ŠʹͲͳʹˆ‹•…ƒŽ›‡ƒ”ƒ’’”‘˜‡†ˆ—†‹‰‘ˆ–Š‡‹””‡–’”‘˜‹†‡†ƒƒš‹—ˆ—†‹‰‘ˆ̈́ͳǡ͹ͺ͵ǡͳͻ͹ˆ‘” „‘–Š‹–‡•‘ƒ‘‰‘‹‰„ƒ•‹•Ǥ ˆˆ‡…–‹˜‡ ƒ› ͸ǡ ʹͲͳ͵ǡ  •‘Ž†…‡”–ƒ‹ ‡†‹…ƒŽ ‡“—‹’‡–ǡ ˆ—”‹•Š‹‰•ǡ ˆ‹š–—”‡•ǡ ‹˜‡–‘”‹‡•ǡ ƒ† ‘–Š‡” –ƒ‰‹„Ž‡ ’‡”•‘ƒŽ ’”‘’‡”–› ‹ ‡š…Šƒ‰‡ ˆ‘” ƒ •‡˜‡ ƒ† ‘‡ ŠƒŽˆ ȋ͹ǤͷΨȌ ‹–‡”‡•– ‹ Ž ƒ‹‘ „—Žƒ–‘”› —”‰‡”› ‡–‡”ǡ ȋDzdzȌǤŠƒ•’”‘˜‹†‡†ƒ™‘”‹‰…ƒ’‹–ƒŽŽ‹‡‘ˆ…”‡†‹––‘‹ƒ’”‹…‹’ƒŽƒ‘—–‘ˆ̈́͹ͷͲǡͲͲͲ”‡’”‡•‡–‡† „›ƒ”‘‹••‘”›‘–‡ƒ†Šƒ•ƒ–‡”‘ˆ͵ͻ‘–Š•™‹–Šƒ‹–‡”‡•–”ƒ–‡‘ˆͷΨ’‡”ƒ—Ǥ– —‡͵ͲǡʹͲͳ͵ǡ–Š‡”‡ ™‡”‡‘†”ƒ™•ƒ‰ƒ‹•––Š‡Ž‹‡‘ˆ…”‡†‹–ǤŠ‡ ‘•’‹–ƒŽŽ‡ƒ•‡•–Š‡•’ƒ…‡–‘ƒ†’”‘˜‹†‡•…‡”–ƒ‹•‡”˜‹…‡•ǡ•—…Šƒ• —–‹Ž‹–‹‡•ƒ†„—‹Ž†‹‰Ȁ‡“—‹’‡–ƒ‹–‡ƒ…‡ǤŠ‡”‡™ƒ•‘”‡–ƒŽ‹…‘‡”‡…‘”†‡†ƒ•‘ˆ —‡͵ͲǡʹͲͳ͵ǡ”‡Žƒ–‡†–‘ –Š‡Ž‡ƒ•‡Ǥ

Hospital Seismic Safety Act Ȃ  –Š‡ ʹͲͳͲ ˆ‹•…ƒŽ ›‡ƒ”ǡ –Š‡ ‘—–ƒ‹ ‹‡™ …ƒ’—• …‘’Ž‡–‡† ‹–• –Š”‡‡ ›‡ƒ” …‘•–”—…–‹‘‘ˆ–Š‡ ‘•’‹–ƒŽ‡’Žƒ…‡‡–”‘Œ‡…–™‹–Š–Š‡‘’‡‹‰‘ˆ‹–•‡™ˆ‹˜‡•–‘”›ǡͶͷͲǡͲͲͲ•“—ƒ”‡ˆ‘‘–ǡ•–ƒ–‡Ǧ‘ˆǦ –Š‡Ǧƒ”– Š‘•’‹–ƒŽ ˆƒ…‹Ž‹–› ‘ ‘˜‡„‡” ͳͷǡ ʹͲͲͻǤ Š‹• …‘’Ž‡–‹‘ ƒ†‡ –Š‡ ‘—–ƒ‹ ‹‡™ Š‘•’‹–ƒŽ …ƒ’—• ‹ …‘’Ž‹ƒ…‡ ™‹–Š –Š‡ –ƒ–‡ ‘ˆ ƒŽ‹ˆ‘”‹ƒǯ•  ͳͻͷ͵ ‹ ‡‡–‹‰ ƒŽŽ ”‡“—‹”‡‡–• ‘ˆ –Š‡ ‘•’‹–ƒŽ ‡‹•‹… ƒˆ‡–› …– ‘ˆ ͳͻͻͶǤ

NOTE13–COMMITMENTSANDCONTINGENCIES LitigationȂŠ‡‹•–”‹…–‹•ƒ†‡ˆ‡†ƒ–‹˜ƒ”‹‘—•Ž‡‰ƒŽ’”‘…‡‡†‹‰•ƒ”‹•‹‰‘—–‘ˆ–Š‡‘”ƒŽ…‘†—…–‘ˆ‹–•„—•‹‡••Ǥ

 –Š‡ ‘’‹‹‘ ‘ˆ ƒƒ‰‡‡– ƒ† ‹–• Ž‡‰ƒŽ ”‡’”‡•‡–ƒ–‹˜‡•ǡ –Š‡ ‹•–”‹…– Šƒ• ˜ƒŽ‹† ƒ† •—„•–ƒ–‹ƒŽ †‡ˆ‡•‡•ǡ ƒ† •‡––Ž‡‡–•‘”ƒ™ƒ”†•ƒ”‹•‹‰ˆ”‘Ž‡‰ƒŽ’”‘…‡‡†‹‰•ǡ‹ˆƒ›ǡ™‹ŽŽ‘–‡š…‡‡†‡š‹•–‹‰‹•—”ƒ…‡…‘˜‡”ƒ‰‡ǡ‘”™‹ŽŽ–Š‡› Šƒ˜‡ƒƒ–‡”‹ƒŽƒ†˜‡”•‡‡ˆˆ‡…–‘–Š‡ˆ‹ƒ…‹ƒŽ’‘•‹–‹‘ǡ”‡•—Ž–•‘ˆ‘’‡”ƒ–‹‘•ǡ‘”Ž‹“—‹†‹–›‘ˆ–Š‡‹•–”‹…–Ǥ

Š‡ ‘•’‹–ƒŽ‡’Žƒ…‡‡–”‘Œ‡…–ƒ––Š‡‘—–ƒ‹‹‡™…ƒ’—•ˆ‹ƒ…‹‰‹…Ž—†‡†–Š‡’”‘…‡‡†•ˆ”‘ƒ…‘„‹ƒ–‹‘ ‘ˆǣȋͳȌ ‡‡”ƒŽ„Ž‹‰ƒ–‹‘„‘†•ǡ–‘–ƒŽ‹‰̈́ͳͶͺ‹ŽŽ‹‘–Šƒ–™‡”‡‹••—‡†„›–Š‡‘—–›‘ˆƒ–ƒŽƒ”ƒƒ’’”‘˜‡†„›–Š‡ ‘˜‡„‡”ʹͲͲ͵‡ƒ•—”‡ǢȋʹȌ̈́ͳͷͲ‹ŽŽ‹‘‹”‡˜‡—‡„‘†•‹••—‡†„›–Š‡ ‘•’‹–ƒŽ‹ʹͲͲ͹Ǣȋ͵Ȍƒƒ††‹–‹‘ƒŽ̈́ͷͲ ‹ŽŽ‹‘”‡˜‡—‡„‘†‹••—‡‹ʹͲͲͻǡƒ†ȋͶȌ…ƒ•Š”‡•‡”˜‡•Ǥ – –Š‡ ‘• ƒ–‘• …ƒ’—•ǡ ™Š‡”‡ ‘•– ‘ˆ –Š‡ „—‹Ž†‹‰• ™‡”‡ …‘•–”—…–‡† ‹ –Š‡ ͳͻ͸Ͳǯ•ǡ –Š‡ …ƒ’—• Šƒ• „‡‡ ‰‘‹‰ –Š”‘—‰Š ƒ •‡‹•‹… …‘’Ž‹ƒ…‡ ”‡˜‹‡™Ǥ ˜‡” –Š‡ ’ƒ•– –™‘ ›‡ƒ”• •‹…‡ ‹–• ƒ…“—‹•‹–‹‘ •–”—…–—”ƒŽ ‡‰‹‡‡”• Šƒ˜‡ „‡‡ ’‡”ˆ‘”‹‰•‡‹•‹…ƒ••‡••‡–•–Šƒ–Šƒ˜‡”ƒ–‡†ͳʹ‘ˆ–Š‡ͳͶ„—‹Ž†‹‰•–‘„‡•‡‹•‹……‘’Ž‹ƒ––Š”‘—‰ŠʹͲ͵ͲǤŠ‡–™‘ ”‡ƒ‹‹‰„—‹Ž†‹‰•–Šƒ–”‡“—‹”‡•‡‹•‹…—’‰”ƒ†‡•ƒ–ƒ‡•–‹ƒ–‡†…‘•–‘ˆ̈́͹‹ŽŽ‹‘ǡ—†‡”…—””‡–”‡‰—Žƒ–‹‘•ǡ–Š‡ ™‘”‹’Šƒ•‡•—•–„‡…‘’Ž‡–‡†„‡–™‡‡ʹͲͳ͵ƒ†ʹͲͳͷǤ‡ƒ–‡‹ŽŽͻͲ”‡…‡–Ž›•‹‰‡†‹–‘Žƒ™ǡƒˆ–‡”‘–Š‡”†‡–ƒ‹Ž• „‡‹‰ƒ’’”‘˜‡†™‘—Ž†’”‘˜‹†‡ƒ•‡˜‡›‡ƒ”‡š–‡•‹‘‘–Š‡•‡ʹͲͳ͵ƒ†ʹͲͳͷ•‡‹•‹…†‡ƒ†Ž‹‡•Ǥ

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■ Mountain View Voice ■ MountainViewOnline.com ■ December 13, 2013

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Page 22 of 28


CONSOLIDATED FINANCIAL STATEMENTS As Of And For the Years Ended June 30, 2013 and 2012

SUPPLEMENTARY INFORMATION

ELCAMINOHEALTHCAREDISTRICT NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS     NOTE14–HEALTHCAREREFORM

 ƒ”…Š ʹͲͳͲǡ ”‡•‹†‡– „ƒƒ •‹‰‡† –Š‡ ‡ƒŽ–Š ƒ”‡ ‡ˆ‘” ‡‰‹•Žƒ–‹‘ ‹–‘ ƒ™Ǥ Š‡ ‡™ Žƒ™ ™‹ŽŽ ”‡•—Ž– ‹ •™‡‡’‹‰ …Šƒ‰‡• ƒ…”‘•• –Š‡ Š‡ƒŽ–Š …ƒ”‡ ‹†—•–”›Ǥ Š‡ ’”‹ƒ”› ‰‘ƒŽ ‘ˆ –Š‹• …‘’”‡Š‡•‹˜‡ Ž‡‰‹•Žƒ–‹‘ ‹• –‘ ‡š–‡† Š‡ƒŽ–Š …ƒ”‡ …‘˜‡”ƒ‰‡ –‘ ƒ’’”‘š‹ƒ–‡Ž› ͵ʹ ‹ŽŽ‹‘ —‹•—”‡† Ž‡‰ƒŽ ǤǤ ”‡•‹†‡–• –Š”‘—‰Š ƒ …‘„‹ƒ–‹‘ ‘ˆ ’—„Ž‹… ’”‘‰”ƒ ‡š’ƒ•‹‘ ƒ† ’”‹˜ƒ–‡ •‡…–‘” Š‡ƒŽ–Š ‹•—”ƒ…‡ ”‡ˆ‘”•Ǥ ‘ ˆ—† –Š‡ ‡š’ƒ•‹‘ ‘ˆ ‹•—”ƒ…‡ …‘˜‡”ƒ‰‡ǡ –Š‡ Ž‡‰‹•Žƒ–‹‘ …‘–ƒ‹• ‡ƒ•—”‡• †‡•‹‰ƒ–‡† –‘ ’”‘‘–‡ “—ƒŽ‹–› ƒ† …‘•– ‡ˆˆ‹…‹‡…› ‹ Š‡ƒŽ–Š …ƒ”‡ †‡Ž‹˜‡”› ƒ† –‘ ‰‡‡”ƒ–‡„—†‰‡–ƒ”›•ƒ˜‹‰•‹–Š‡‡†‹…ƒ”‡ƒ†‡†‹…ƒ‹†’”‘‰”ƒ•ǤŠ‡‹•–”‹…–‹•—ƒ„Ž‡–‘’”‡†‹…––Š‡ˆ—ŽŽ‹’ƒ…–‘ˆ –Š‡ ‡ƒŽ–Š ƒ”‡ ‡ˆ‘” ‡‰‹•Žƒ–‹‘ ƒ– –Š‹• –‹‡ †—‡ –‘ –Š‡ Žƒ™ǯ• …‘’Ž‡š‹–› ƒ† …—””‡– Žƒ… ‘ˆ ‹’Ž‡‡–‹‰ ”‡‰—Žƒ–‹‘• ƒ† ‘” ‹–‡”’”‡–‹˜‡ ‰—‹†ƒ…‡Ǥ ‘™‡˜‡”ǡ –Š‡ ‹•–”‹…– ‡š’‡…–• –Šƒ– •‡˜‡”ƒŽ ’”‘˜‹•‹‘• ‘ˆ –Š‡ ‡ƒŽ–Š ƒ”‡ ‡ˆ‘”‡‰‹•Žƒ–‹‘™‹ŽŽŠƒ˜‡ƒƒ–‡”‹ƒŽ‡ˆˆ‡…–‘‹–•„—•‹‡••Ǥ NOTE15–SUBSEQUENTEVENTS —„•‡“—‡– ‡˜‡–• ƒ”‡ ‡˜‡–• ‘” –”ƒ•ƒ…–‹‘• –Šƒ– ‘……—” ƒˆ–‡” –Š‡ …‘•‘Ž‹†ƒ–‡† •–ƒ–‡‡– ‘ˆ ‡– ’‘•‹–‹‘ †ƒ–‡ „—– „‡ˆ‘”‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–• ƒ”‡ ƒ˜ƒ‹Žƒ„Ž‡ –‘ „‡ ‹••—‡†Ǥ Š‡ ‹•–”‹…– ”‡…‘‰‹œ‡• ‹ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•–Š‡‡ˆˆ‡…–•‘ˆƒŽŽ•—„•‡“—‡–‡˜‡–•–Šƒ–’”‘˜‹†‡ƒ††‹–‹‘ƒŽ‡˜‹†‡…‡ƒ„‘—–…‘†‹–‹‘•–Šƒ–‡š‹•–‡† ƒ––Š‡ …‘•‘Ž‹†ƒ–‡† •–ƒ–‡‡– ‘ˆ ‡– ’‘•‹–‹‘ †ƒ–‡ǡ ‹…Ž—†‹‰ –Š‡ ‡•–‹ƒ–‡• ‹Š‡”‡– ‹ –Š‡ ’”‘…‡•• ‘ˆ ’”‡’ƒ”‹‰ –Š‡ …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–•Ǥ Š‡ ‹•–”‹…–ǯ• …‘•‘Ž‹†ƒ–‡† ˆ‹ƒ…‹ƒŽ •–ƒ–‡‡–• †‘ ‘– ”‡…‘‰‹œ‡ •—„•‡“—‡– ‡˜‡–•–Šƒ–’”‘˜‹†‡‡˜‹†‡…‡ƒ„‘—–…‘†‹–‹‘•–Šƒ–†‹†‘–‡š‹•–ƒ––Š‡…‘•‘Ž‹†ƒ–‡†•–ƒ–‡‡–‘ˆ‡–’‘•‹–‹‘†ƒ–‡„—– ƒ”‘•‡ƒˆ–‡”–Š‡…‘•‘Ž‹†ƒ–‡†•–ƒ–‡‡–‘ˆ‡–’‘•‹–‹‘†ƒ–‡ƒ†„‡ˆ‘”‡…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ƒ”‡ƒ˜ƒ‹Žƒ„Ž‡ –‘„‡‹••—‡†Ǥ

SUPPLEMENTARYINFORMATION ̴̴̴̴̴̴̴̴̴̴

Š‡ ‡–‡”• ˆ‘” ‡†‹…ƒ”‡ Ƭ ‡†‹…ƒ‹† ‡”˜‹…‡• ȋDzdzȌ †‡–‡”‹‡† –Šƒ– –Š‡ ‘•’‹–ƒŽ ™ƒ• ‘—– ‘ˆ …‘’Ž‹ƒ…‡ ™‹–Š …‡”–ƒ‹…‘†‹–‹‘•‘ˆ’ƒ”–‹…‹’ƒ–‹‘†—”‹‰ƒ˜ƒŽ‹†ƒ–‹‘•—”˜‡›‹—‰—•–ǡʹͲͳ͵™Š‹…Šƒ›Ž‡ƒ†–‘–Š‡–‡”‹ƒ–‹‘ ‘ˆ–Š‡ ‘•’‹–ƒŽǯ••–ƒ–—•ƒ•ƒ‡†‹…ƒ”‡’”‘˜‹†‡”ǡƒ†–Š‡ ‘•’‹–ƒŽ™‘—Ž†Ž‘•‡‹–•ƒ„‹Ž‹–›–‘„‡”‡‹„—”•‡†ˆ‘”‡†‹…ƒ”‡ •‡”˜‹…‡•ǤŠ‡ ‘•’‹–ƒŽŠƒ••—„‹––‡†ƒ’Žƒ‘ˆ…‘””‡…–‹‘–‘ǡƒ†ƒ•‘ˆ…–‘„‡”ʹͶǡʹͲͳ͵ǡ–Š‡ ‘•’‹–ƒŽ”‡…‡‹˜‡† …‘ˆ‹”ƒ–‹‘ˆ”‘  –Šƒ– ƒŽŽ ‹••—‡• Šƒ˜‡ „‡‡ ”‡•‘Ž˜‡† ƒ† –Š‡ ‘•’‹–ƒŽ Šƒ•ƒ‹–ƒ‹‡† ‹–• •–ƒ–—• ƒ•ƒ ‡†‹…ƒ”‡ ’”‘˜‹†‡”Ǥ

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SUPPLEMENTARY INFORMATION AS OF AND FOR THE YEAR ENDED JUNE 30, 2013

ELCAMINOHEALTHCAREDISTRICT CONSOLIDATINGSCHEDULE–STATEMENTOFNETPOSITION June30,2013 (InThousands)   ElCamino Healthcare District

Eliminations Increase (Decrease)

ElCamino Healthcare District andAffiliates

ElCamino Hospital

ElCamino Hospital Foundation

CONCERN

SurgeryCenter

SiliconValley Medical Development

̈́ ͵͵ͻ Ͷǡͺ͹ͻ

̈́Ͷͻǡ͸ͻͳ ͳͺ͹ǡͺͳͺ

̈́ ͻͷ ͳǡͷͲͳ

̈́Ͷ͹͸  ͳͳǡ͵ͺͶ

̈́ ͶͻͶ  Ǧ

̈́ ͳ͸Ͷ  Ǧ

̈́ Ǧ  Ǧ

̈́ͷͳǡʹͷͻ ʹͲͷǡͷͺʹ

ͳͳǡͶ͸ͳ

ʹǡ͸͹ͷ

 Ǧ

Ǧ

 Ǧ

 Ǧ

 Ǧ

 ͳͶǡͳ͵͸

 Ǧ  Ǧ ͺͲ

 ͺ͹ǡͺͶͲ  ʹͳǡʹͻͲ  Ǧ

 Ǧ  Ǧ  Ǧ

͵ͶͶ ʹͲͶ Ǧ

 ͳ͹ͺ  Ǧ  Ǧ

 Ǧ ͵͵  Ǧ

 Ǧ  ȋͳǡͶʹ͸Ȍ ȋ͹Ȍ

 ͺͺǡ͵͸ʹ  ʹͲǡͳͲͳ ͹͵

 ͳ͸ǡ͹ͷͻ

͵Ͷͻǡ͵ͳͶ

ͳǡͷͻ͸

 ͳʹǡͶͲͺ

 ͸͹ʹ

 ͳͻ͹

 ȋͳǡͶ͵͵Ȍ

͵͹ͻǡͷͳ͵

‘Ǧ…—””‡–…ƒ•Šƒ†‹˜‡•–‡–•  ‘ƒ”†Ǧ†‡•‹‰ƒ–‡†ˆ—†• ‡•–”‹…–‡†ˆ—†• —†•Š‡Ž†„›–”—•–‡‡

͵ǡ͹Ͳ͸  Ǧ ͺǡͳͷ͸

͵ʹʹǡʹͻ͵  ͺ ͸ǡ͹ͳͲ

 ͳ͸ǡ͸ͻͷ  Ǧ  Ǧ

ͺͺͲ ͷͲ Ǧ

 Ǧ  Ǧ  Ǧ

 Ǧ  Ǧ  Ǧ

 Ǧ  Ǧ  Ǧ

͵Ͷ͵ǡͷ͹Ͷ ͷͺ  ͳͶǡͺ͸͸

 ͳͳǡͺ͸ʹ

͵ʹͻǡͲͳͳ

 ͳ͸ǡ͸ͻͷ

ͻ͵Ͳ

 Ǧ

 Ǧ

 Ǧ

͵ͷͺǡͶͻͺ

ƒ’‹–ƒŽƒ••‡–•ǡ‡– Ž‡†‰‡•”‡…‡‹˜ƒ„Ž‡ǡ‡– ”‡’ƒ‹†’‡•‹‘

˜‡•–‡–‹Š‡ƒŽ–Š…ƒ”‡ƒˆˆ‹Ž‹ƒ–‡• –Š‡”ƒ••‡–•

 ͳʹǡͳʹ͹  Ǧ  Ǧ  Ǧ ͳǡ͵ͻ͵

͸͵ͶǡͻͷͲ  Ǧ  ͵ʹǡͺ͸ͺ  ʹʹǡͶ͵ͷ Ͷǡ͸͸ʹ

 ͳͲͺ ͳǡ͸ͷͳ  Ǧ  Ǧ  Ǧ

ͳ͹Ͷ Ǧ Ǧ Ǧ Ǧ

 Ǧ  Ǧ  Ǧ ͳǡͺͷ͸  Ǧ

 Ǧ  Ǧ  Ǧ  Ǧ  Ǧ

 ȋ͵ʹ͵Ȍ  Ǧ  Ǧ  ȋͳǡʹͻʹȌ  Ǧ

͸Ͷ͹ǡͲ͵͸ ͳǡ͸ͷͳ  ͵ʹǡͺ͸ͺ  ʹʹǡͻͻͻ ͸ǡͲͷͷ

̈́ ͶʹǡͳͶͳ

̈́ͳǡ͵͹͵ǡʹͶͲ

̈́ʹͲǡͲͷͲ

̈́ͳ͵ǡͷͳʹ

̈́ ʹǡͷʹͺ

̈́ ͳͻ͹

̈́ȋ͵ǡͲͶͺȌ

̈́ͳǡͶͶͺǡ͸ʹͲ

ASSETS —””‡–ƒ••‡–• ƒ•Šƒ†…ƒ•Š‡“—‹˜ƒŽ‡–• Š‘”–Ǧ–‡”‹˜‡•–‡–• —””‡–’‘”–‹‘‘ˆ„‘ƒ”††‡•‹‰ƒ–‡†ǡ”‡•–”‹…–‡† ˆ—†•ƒ†–”—•–‡‡†ƒ••‡–• ƒ–‹‡–ƒ……‘—–•”‡…‡‹˜ƒ„Ž‡ǡ‡–‘ˆƒŽŽ‘™ƒ…‡• ˆ‘”†‘—„–ˆ—Žƒ……‘—–•‘ˆ̈́ͻǡ͵ͳ͵ ”‡’ƒ‹†‡š’‡•‡•ƒ†‘–Š‡”…—””‡–ƒ••‡–• ‘–‡•”‡…‡‹˜ƒ„Ž‡ǡ…—””‡– ‘–ƒŽ…—””‡–ƒ••‡–•

‘–ƒŽƒ••‡–•





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SUPPLEMENTARY INFORMATION AS OF AND FOR THE YEAR ENDED JUNE 30, 2013

ELCAMINOHEALTHCAREDISTRICT CONSOLIDATINGSCHEDULE–STATEMENTOFNETPOSITION(CONTINUED) June30,2013 (InThousands)  

SurgeryCenter

SiliconValley Medical Development

Eliminations Increase (Decrease)

ElCamino Heathcare District andAffiliates

̈́Ǧ ͷͷ͵ ͷ͸͹ ͹͵Ͳ Ǧ Ǧ

̈́ Ǧ  ʹ͵Ͳ ͷͲ  ͳͲͶ  Ǧ  Ǧ

̈́ Ǧ  ͳ͵͹ ͻʹ  Ǧ  Ǧ  Ǧ

̈́ Ǧ  ȋʹ͸͵Ȍ  Ǧ  ȋͳǡͳ͹ͲȌ  Ǧ  Ǧ

̈́ Ͷǡͻ͸ͳ  ͳ͹ǡͶͲ͵  ͵ͺǡͶ͵ͻ  ͳͳǡͳͲ͹  ʹͳǡͳͳ͹ Ͷǡͷͻʹ

 ͻʹͷ

ͳǡͺͷͲ

 ͵ͺͶ

 ʹʹͻ

 ȋͳǡͶ͵͵Ȍ

 ͻ͹ǡ͸ͳͻ

 Ǧ ͳͺͳǡͶͷͳ  ͳͲǡͲͲͷ  ʹ͵ǡͶͲͻ  ͳͷǡͷͶͳ

 Ǧ  Ǧ  Ǧ  Ǧ  Ǧ

Ǧ Ǧ Ǧ Ǧ Ǧ

 Ǧ  Ǧ  Ǧ  Ǧ  Ǧ

 Ǧ  Ǧ  Ǧ  Ǧ  Ǧ

 Ǧ  Ǧ  Ǧ  Ǧ  Ǧ

 Ǧ ͵ʹͳǡͻͺ͸  ͳͲǡͲͲͷ  ʹ͵ǡͶͲͻ  ͳͷǡͷͶͳ

ͳͶͶǡͷͶͷ

͵ʹʹǡͲ͸Ͳ

 ͻʹͷ

ͳǡͺͷͲ

 ͵ͺͶ

 ʹʹͻ

 ȋͳǡͶ͵͵Ȍ

Ͷ͸ͺǡͷ͸Ͳ

 ȋͳͳͲǡʹ͹ͳȌ  Ǧ  Ǧ ͹ǡͺ͸͹

ͶͶͷǡͶʹ͸  Ǧ  Ǧ ͸Ͳͷǡ͹ͷͶ

ͳ͹Ͷ Ǧ ͷͲ  ͳͳǡͶ͵ͺ

 Ǧ  Ǧ  Ǧ ʹǡͳͶͶ

 Ǧ  Ǧ  Ǧ  ȋ͵ʹȌ

 ȋ͵ʹ͵Ȍ  Ǧ  Ǧ  ȋͳǡʹͻʹȌ

͵͵ͷǡͳͳͶ ͷǡʹͻ͹ ͳǡ͹ͺͷ ͸͵͹ǡͺ͸Ͷ

 ͳͳǡ͸͸ʹ

ʹǡͳͶͶ

 ȋ͵ʹȌ

 ȋͳǡ͸ͳͷȌ

ͻͺͲǡͲ͸Ͳ

̈́ ͳ͵ǡͷͳʹ

̈́ ʹǡͷʹͺ

̈́ ͳͻ͹

̈́ȋ͵ǡͲͶͺȌ

̈́ͳǡͶͶͺǡ͸ʹͲ

ElCamino Healthcare District

ElCamino Hospital

ElCamino Hospital Foundation

CONCERN

̈́ Ǧ  Ǧ  Ǧ ʹǡͷ͵Ͳ  Ǧ ͳǡͶͺͲ

̈́ Ͷǡͻ͸ͳ ͳ͸ǡ͹Ͷ͸  ͵͹ǡ͹͵Ͳ ͹ǡͻͺͺ  ʹͳǡͳͳ͹ ͵ǡͳͳʹ

̈́ Ǧ  Ǧ  Ǧ  ͻʹͷ  Ǧ  Ǧ

ͶǡͲͳͲ

 ͻͳǡ͸ͷͶ

 Ǧ ͳͶͲǡͷ͵ͷ  Ǧ  Ǧ  Ǧ

LIABILITIESANDNETPOSITION —””‡–Ž‹ƒ„‹Ž‹–‹‡• —””‡–’‘”–‹‘…ƒ’‹–ƒŽŽ‡ƒ•‡‘„Ž‹‰ƒ–‹‘• ……‘—–•’ƒ›ƒ„Ž‡ƒ†ƒ……”—‡†‡š’‡•‡• ƒŽƒ”‹‡•ǡ™ƒ‰‡•ǡƒ†”‡Žƒ–‡†Ž‹ƒ„‹Ž‹–‹‡• –Š‡”…—””‡–Ž‹ƒ„‹Ž‹–‹‡• •–‹ƒ–‡†–Š‹”†Ǧ’ƒ”–›’ƒ›‘”•‡––Ž‡‡–• —””‡–’‘”–‹‘‘ˆ„‘†•’ƒ›ƒ„Ž‡ ‘–ƒŽ…—””‡–Ž‹ƒ„‹Ž‹–‹‡• ƒ’‹–ƒŽŽ‡ƒ•‡‘„Ž‹‰ƒ–‹‘•ǡ‡–‘ˆ…—””‡–’‘”–‹‘ ‘†•’ƒ›ƒ„Ž‡ǡ‡–‘ˆ…—””‡–’‘”–‹‘ –Š‡”Ž‘‰Ǧ–‡”‘„Ž‹‰ƒ–‹‘• ‘”‡”•̵…‘’‡•ƒ–‹‘ǡ‡–‘ˆ…—””‡–’‘”–‹‘ ‘•–”‡–‹”‡‡–‡†‹…ƒŽ„‡‡ˆ‹–•ǡ‡–‘ˆ…—””‡–’‘”–‹‘ ‘–ƒŽŽ‹ƒ„‹Ž‹–‹‡• ‡–’‘•‹–‹‘

˜‡•–‡†‹…ƒ’‹–ƒŽƒ••‡–•ǡ‡–‘ˆ”‡Žƒ–‡††‡„– ‡•–”‹…–‡†Ǧ‡š’‡†ƒ„Ž‡ ‡•–”‹…–‡†Ǧ‘‡š’‡†ƒ„Ž‡ ”‡•–”‹…–‡†  ‘–ƒŽ‡–’‘•‹–‹‘ ‘–ƒŽŽ‹ƒ„‹Ž‹–‹‡•ƒ†‡–’‘•‹–‹‘

 ȋͳͲʹǡͶͲͶȌ

 ͳǡͲͷͳǡͳͺͲ

 ͳͲͺ ͷǡʹͻ͹ ͳǡ͹͵ͷ  ͳͳǡͻͺͷ   ͳͻǡͳʹͷ

̈́ͶʹǡͳͶͳ

̈́ͳǡ͵͹͵ǡʹͶͲ

̈́ ʹͲǡͲͷͲ





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SUPPLEMENTARY INFORMATION AS OF AND FOR THE YEAR ENDED JUNE 30, 2013

ELCAMINOHEALTHCAREDISTRICT CONSOLIDATINGSCHEDULE–STATEMENTOFREVENUES,EXPENSES,ANDCHANGESINNETPOSITION YearEndedJune30,2013 (InThousands)   ElCamino Healthcare District

ElCamino Hospital

ElCamino Hospital Foundation

̈́ Ǧ

̈́ ͸ͺ͸ǡ͵ʹ͹

ͺͶ

 ͳͶǡ͸ʹͲ

‘–ƒŽ‘’‡”ƒ–‹‰”‡˜‡—‡•

ͺͶ

’‡”ƒ–‹‰‡š’‡•‡• ƒŽƒ”‹‡•ǡ™ƒ‰‡•ƒ†„‡‡ˆ‹–• ”‘ˆ‡••‹‘ƒŽˆ‡‡•ƒ†’—”…Šƒ•‡†•‡”˜‹…‡• —’’Ž‹‡• ‡’”‡…‹ƒ–‹‘ƒ†ƒ‘”–‹œƒ–‹‘ ‡–ƒ†—–‹Ž‹–‹‡• –Š‡”

SiliconValley Medical Development

Eliminations Increase (Decrease)

ElCamino Healthcare District andAffiliates

CONCERN

SurgeryCenter

̈́ ͷͶ

̈́Ǧ

̈́ ͷǡͳ͸Ͷ

̈́ Ǧ

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̈́ ͸ͻͳǡͷͶͷ

 Ǧ

ͳͲǡʹͻͺ

ͳͻ

 Ǧ

 ȋ͵ǡͶͷ͸Ȍ

 ʹͳǡͷ͸ͷ

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ͷͶ

ͳͲǡʹͻͺ

ͷǡͳͺ͵

 Ǧ

 ȋ͵ǡͶͷ͸Ȍ

͹ͳ͵ǡͳͳͲ

 Ǧ  ͻ͹͵  Ǧ  ʹͷͲ  Ǧ  Ǧ

͵͸͸ǡͲͲ͸  ͺͶǡ͸͹ͻ ͳͲʹǡͳͶͶ  Ͷ͹ǡͺ͵ͻ  ͳ͵ǡͺͳͳ  ͳ͹ǡͺ͵Ͷ

ͳǡͶ͵ͺ ͳǡͷͳ͵ ʹͲ ͳ͵  ͳ͵Ͷ  ͳͶͻ

͵ǡͲ͵͸ ͶǡͶͻͷ Ǧ ͵ͳ ʹͲͲ ʹ͵͸

ʹǡͷʹʹ  ͺͳͲ ͳǡͶ͵ͻ  ʹʹͶ  ͵ͻ͸ ͳͲͻ

 ͹͵Ͷ  ʹͷʹ  Ǧ  Ǧ  Ǧ  Ǧ

 ȋʹͷ͸Ȍ  ȋʹǡͲ͹͵Ȍ  Ǧ  Ǧ  ȋ͸ͲͶȌ  Ǧ

͵͹͵ǡͶͺͲ  ͻͲǡ͸Ͷͻ ͳͲ͵ǡ͸Ͳ͵  Ͷͺǡ͵ͷ͹  ͳ͵ǡͻ͵͹  ͳͺǡ͵ʹͺ

‘–ƒŽ‘’‡”ƒ–‹‰‡š’‡•‡•

ͳǡʹʹ͵

͸͵ʹǡ͵ͳ͵

͵ǡʹ͸͹

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ͷǡͷͲͲ

 ͻͺ͸

 ȋʹǡͻ͵͵Ȍ

͸Ͷͺǡ͵ͷͶ

ȋ‘••Ȍ‹…‘‡ˆ”‘‘’‡”ƒ–‹‘•

 ȋͳǡͳ͵ͻȌ

 ͸ͺǡ͸͵Ͷ

 ȋ͵ǡʹͳ͵Ȍ

ʹǡ͵ͲͲ

 ȋ͵ͳ͹Ȍ

 ȋͻͺ͸Ȍ

 ȋͷʹ͵Ȍ

 ͸Ͷǡ͹ͷ͸

’‡”ƒ–‹‰”‡˜‡—‡• ‡–’ƒ–‹‡–•‡”˜‹…‡”‡˜‡—‡ȋ‡–‘ˆ’”‘˜‹•‹‘ˆ‘” „ƒ††‡„–•‘ˆ̈́ͳͶǡ͸ʹ͵Ȍ –Š‡””‡˜‡—‡

‘‘’‡”ƒ–‹‰”‡˜‡—‡•ȋ‡š’‡•‡•Ȍǣ

˜‡•–‡–‹…‘‡ǡ‡– ”‘’‡”–›–ƒš”‡˜‡—‡ ‡•‹‰ƒ–‡†ˆ‘”…‘—‹–›„‡‡ˆ‹–’”‘‰”ƒ• ƒ†‘’‡”ƒ–‹‰‡š’‡•‡• ‡•‹‰ƒ–‡†ˆ‘”…ƒ’‹–ƒŽ‡š’‡†‹–—”‡• ‡˜‹‡†ˆ‘”†‡„–•‡”˜‹…‡

‡‡”ƒŽ„Ž‹‰ƒ–‹‘„‘†‹–‡”‡•–‡š’‡•‡ ‡•–”‹…–‡†‰‹ˆ–•ǡ‰”ƒ–•ƒ†„‡“—‡•–•ǡƒ†‘–Š‡” ”‡ƒŽ‹œ‡†‰ƒ‹‘‹–‡”‡•–”ƒ–‡•™ƒ’ –Š‡”ǡ‡–

͹Ͳ

 ʹͷǡ͵͵ͺ

ͳǡͶ͹͸

ͷͻ

 Ǧ

 Ǧ

 Ǧ

 ʹ͸ǡͻͶ͵

͸ǡͷͳͶ ͶǡͶͺ͵ ͹ǡʹ͸͹  ȋͶǡ͹ͺ͹Ȍ  Ǧ  Ǧ ͳͳ

 Ǧ  Ǧ  Ǧ  Ǧ  Ǧ ͶǡͲ͸ͳ  ȋͻǡͳ͹ͶȌ

 Ǧ  Ǧ  Ǧ  Ǧ ͵ǡʹͻͺ  Ǧ  ͳʹͳ

Ǧ Ǧ Ǧ Ǧ Ǧ Ǧ ȋͳǡͻͺͻȌ

 Ǧ  Ǧ  Ǧ  Ǧ  Ǧ  Ǧ  Ǧ

 Ǧ  Ǧ  Ǧ  Ǧ  Ǧ  Ǧ  ͺ͹ʹ

 Ǧ  Ǧ  Ǧ  Ǧ ͳǡͳ͵Ͷ  Ǧ  ȋͺͺͻȌ

͸ǡͷͳͶ ͶǡͶͺ͵ ͹ǡʹ͸͹  ȋͶǡ͹ͺ͹Ȍ ͶǡͶ͵ʹ ͶǡͲ͸ͳ  ȋͳͳǡͲͶͺȌ

‘–ƒŽ‘‘’‡”ƒ–‹‰”‡˜‡—‡•ƒ†ȋ‡š’‡•‡•Ȍ

 ͳ͵ǡͷͷͺ

 ʹͲǡʹʹͷ

Ͷǡͺͻͷ

ȋͳǡͻ͵ͲȌ

 Ǧ

 ͺ͹ʹ

 ʹͶͷ

 ͵͹ǡͺ͸ͷ

ͳͲʹǡ͸ʹͳ

š…‡••ȋ†‡ˆ‹…‹–Ȍ‘ˆ”‡˜‡—‡•‘˜‡”‡š’‡•‡•„‡ˆ‘”‡…ƒ’‹–ƒŽ ‰”ƒ–•ǡ…‘–”‹„—–‹‘•ǡƒ†ƒ††‹–‹‘•–‘ ’‡”ƒ‡–‡†‘™‡–• ƒ’‹–ƒŽ–”ƒ•ˆ‡”•

…”‡ƒ•‡ȋ†‡…”‡ƒ•‡Ȍ‹‡–ƒ••‡–•

 ͳʹǡͶͳͻ

 ͺͺǡͺͷͻ

ͳǡ͸ͺʹ

͵͹Ͳ

 ȋ͵ͳ͹Ȍ

 ȋͳͳͶȌ

 ȋʹ͹ͺȌ

 ȋͷǡͳ͵ʹȌ

Ͷǡ͹ͺ͹

 ȋͳʹ͵Ȍ

Ǧ

 Ͷ͸ͺ

 Ǧ

 Ǧ

 Ǧ

͹ǡʹͺ͹

 ͻ͵ǡ͸Ͷ͸

ͳǡͷͷͻ

͵͹Ͳ

 ͳͷͳ

 ȋͳͳͶȌ

 ȋʹ͹ͺȌ

ͳͲʹǡ͸ʹͳ

‘–ƒŽ‡–’‘•‹–‹‘ǡ„‡‰‹‹‰‘ˆ›‡ƒ”

 ȋͳͲͻǡ͸ͻͳȌ

ͻͷ͹ǡͷ͵Ͷ

 ͳ͹ǡͷ͸͸

ͳͳǡʹͻʹ

ͳǡͻͻ͵

ͺʹ

 ȋͳǡ͵͵͹Ȍ

ͺ͹͹ǡͶ͵ͻ

‘–ƒŽ‡–’‘•‹–‹‘ǡ‡†‘ˆ›‡ƒ”

̈́ ȋͳͲʹǡͶͲͶȌ

̈́ͳǡͲͷͳǡͳͺͲ

̈́ͳͻǡͳʹͷ

̈́ͳͳǡ͸͸ʹ

̈́ ʹǡͳͶͶ

̈́ȋ͵ʹȌ

̈́ȋͳǡ͸ͳͷȌ

̈́ ͻͺͲǡͲ͸Ͳ





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58

■ Mountain View Voice ■ MountainViewOnline.com ■ December 13, 2013

Ȉ

Page 26 of 28


SUPPLEMENTARY INFORMATION AS OF AND FOR THE YEAR ENDED JUNE 30, 2013

ELCAMINOHEALTHCAREDISTRICT

ELCAMINOHEALTHCAREDISTRICT

SUPPLEMENTALPENSIONANDPOSTRETIREMENTBENEFITINFORMATION June30,2013    SupplementalpensioninformationȂŠ‡ˆ‘ŽŽ‘™‹‰–ƒ„Ž‡•—ƒ”‹œ‡•–Š‡ˆ—†‹‰•–ƒ–—•‘ˆ–Š‡ ‘•’‹–ƒŽǯ•…ƒ•ŠǦ SupplementalpensioninformationȂŠ‡ˆ‘ŽŽ‘™‹‰–ƒ„Ž‡•—ƒ”‹œ‡•–Š‡ˆ—†‹‰•–ƒ–—•‘ˆ–Š‡ ‘•’‹–ƒŽǯ•…ƒ•ŠǦ „ƒŽƒ…‡’‡•‹‘’Žƒȋ‹–Š‘—•ƒ†•Ȍǣ „ƒŽƒ…‡’‡•‹‘’Žƒȋ‹–Š‘—•ƒ†•Ȍǣ

FiscalYear FiscalYear ʹͲͲͻ ʹͲͲͻ ʹͲͳͲ ʹͲͳͲ ʹͲͳͳ ʹͲͳͳ ʹͲͳʹ ʹͲͳʹ ʹͲͳ͵ ʹͲͳ͵

Actuarial Actuarial Valueof Valueof Assets(a) Assets(a)

Actuarial Actuarial Accrued Accrued Liability(AAL) Liability(AAL) ǦProjected ǦProjected Unit Unit Credit(b) Credit(b)

Assetsin Assetsin Excessof Excessof AAL(aǦb) AAL(aǦb)

̈́ͳͲ͵ǡ͸ͷͶ ̈́ͳͲ͵ǡ͸ͷͶ ̈́ͻͲǡͷ͸ͷ ̈́ͻͲǡͷ͸ͷ ̈́ͳͳͺǡͶʹͶ ̈́ͳͳͺǡͶʹͶ ̈́ͳ͵͵ǡʹͷ͹ ̈́ ͳ͵͵ǡʹͷ͹ ̈́ ͳ͵ͺǡ͵ͷ͸

̈́ͻͶǡ͵ͷʹ ̈́ͻͶǡ͵ͷʹ ̈́ͳͲͻǡ͵͹͵ ̈́ͳͲͻǡ͵͹͵ ̈́ͳʹͺǡͳͷͶ ̈́ͳʹͺǡͳͷͶ ̈́ͳͷͲǡͺͻͷ ̈́ ͳͷͲǡͺͻͷ ̈́ ͳͷ͸ǡͳ͹ͷ

̈́ ͻǡ͵Ͳʹ ̈́ ͻǡ͵Ͳʹ ̈́ ȋͳͺǡͺͲͺȌ ̈́ ȋͳͺǡͺͲͺȌ ̈́ȋͻǡ͹͵ͲȌ ̈́ȋͻǡ͹͵ͲȌ ̈́ ȋͳ͹ǡ͸͵ͺȌ ̈́ ȋͳ͹ǡ͸͵ͺȌ ̈́ ȋͳ͹ǡͺͳͻȌ

̈́ͳ͵ͺǡ͵ͷ͸

̈́ͳͷ͸ǡͳ͹ͷ

̈́ ȋͳ͹ǡͺͳͻȌ

Funded Funded Ratio(a/b) Ratio(a/b)

Covered Covered Payroll(c) Payroll(c)

ͳͲͻǤͻΨ ͳ͵͵ǡ͸ͷͶ ͳͲͻǤͻΨ̈́ ̈́ ͳ͵͵ǡ͸ͷͶ ͺʹǤͺΨ ̈́ͳͶͻǡ͸ͳ͸ ͺʹǤͺΨ ̈́ͳͶͻǡ͸ͳ͸ ͻʹǤͶΨ ̈́ͳ͹ͺǡͻ͵͸ ͻʹǤͶΨ ̈́ͳ͹ͺǡͻ͵͸ ͺͺǤ͵Ψ ̈́ʹͲͷǡ͸ͻͷ ͺͺǤ͵Ψ̈́ ̈́ ʹͲͷǡ͸ͻͷ ͺͺǤ͸Ψ ʹͲͻǡ͵ͳͶ

ͺͺǤ͸Ψ

̈́ʹͲͻǡ͵ͳͶ

SUPPLEMENTALSCHEDULEOFCOMMUNITYBENEFIT(UNAUDITED) YearEndedJune30,2013   Š‡ ‘•’‹–ƒŽ ƒ‹–ƒ‹• ”‡…‘”†• –‘ ‹†‡–‹ˆ› ƒ† ‘‹–‘” –Š‡ Ž‡˜‡Ž ‘ˆ †‹”‡…– …‘—‹–› „‡‡ˆ‹– ‹– ’”‘˜‹†‡•Ǥ Š‡•‡ ”‡…‘”†• ‹…Ž—†‡ –Š‡ …Šƒ”‰‡• ˆ‘”‡‰‘‡ ˆ‘” ’”‘˜‹†‹‰ –Š‡ ’ƒ–‹‡–…ƒ”‡ ˆ—”‹•Š‡† —†‡” ‹–• …Šƒ”‹–› …ƒ”‡ ’‘Ž‹…›Ǥ ‘” –Š‡ ›‡ƒ”•‡†‡† —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǡ–Š‡‡•–‹ƒ–‡†…‘•–•‘ˆ’”‘˜‹†‹‰…‘—‹–›„‡‡ˆ‹–‹‡š…‡••‘ˆ”‡‹„—”•‡‡– ˆ”‘‰‘˜‡”‡–ƒŽ’”‘‰”ƒ•™‡”‡ƒ•ˆ‘ŽŽ‘™•ȋ‹–Š‘—•ƒ†•Ȍǣ 2013 2012

Assetsin Assetsin Excess/ Excess/ (Shortfall)of (Shortfall)of AALasa AALasa Percentage Percentage ofCovered ofCovered Payroll Payroll ((aǦb)/c) ((aǦb)/c)

’ƒ‹†…‘•–•‘ˆ‡†‹ǦƒŽ’”‘‰”ƒ•

†‹‰‡–…Šƒ”‹–›…ƒ”‡ –Š‡”…‘—‹–›Ǧ„ƒ•‡†’”‘‰”ƒ•

͹ǤͲΨ ͹ǤͲΨ ǦͳʹǤ͸Ψ ǦͳʹǤ͸Ψ ǦͷǤͶΨ ǦͷǤͶΨ ǦͺǤ͸Ψ ǦͺǤͷΨ ǦͺǤ͸Ψ

‘–ƒŽ…‘—‹–›„‡‡ˆ‹–•

ǦͺǤͷΨ

  Supplemental postretirement benefit information Ȃ Š‡ ˆ‘ŽŽ‘™‹‰ –ƒ„Ž‡ •—ƒ”‹œ‡• –Š‡ ˆ—†‹‰ •–ƒ–—• ‘ˆ –Š‡ Supplemental postretirement benefit information Ȃ Š‡ ˆ‘ŽŽ‘™‹‰ –ƒ„Ž‡ •—ƒ”‹œ‡• –Š‡ ˆ—†‹‰ •–ƒ–—• ‘ˆ –Š‡ ‘•’‹–ƒŽǯ•’‘•–”‡–‹”‡‡–‡†‹…ƒŽ„‡‡ˆ‹–’Žƒȋ‹–Š‘—•ƒ†•Ȍǣ

‘•’‹–ƒŽǯ•’‘•–”‡–‹”‡‡–‡†‹…ƒŽ„‡‡ˆ‹–’Žƒȋ‹–Š‘—•ƒ†•Ȍǣ

FiscalYear FiscalYear ʹͲͳͳ ʹͲͳʹ ʹͲͳͳ ʹͲͳ͵ ʹͲͳʹ

Actuarial Valueof Actuarial Assets(a) Valueof Assets(a) ̈́ Ǧ ̈́ ǦǦ ̈́ ̈́ ǦǦ ̈́

Actuarial Actuarial Accrued Accrued Liability(AAL) ǦProjected Liability(AAL) Unit ǦProjected Credit(b) Unit Credit(b) ̈́ ʹͳǡ͵͹͵

Unfunded Unfunded Actuarial Accrued Actuarial Liability Accrued UAAL(aǦb) Liability UAAL(aǦb) ̈́ ȋʹͳǡ͵͹͵Ȍ

̈́ ʹͲǡͺʹͲ ȋʹͲǡͺʹͲȌ ̈́ ʹͳǡ͵͹͵ ̈́ ̈́ ȋʹͳǡ͵͹͵Ȍ ̈́ ʹͳǡͳͳͺ ȋʹͳǡͳͳͺȌ ̈́ ʹͲǡͺʹͲ ̈́ ̈́ ȋʹͲǡͺʹͲȌ ̈́ʹͳǡͳͳͺ ̈́ ȋʹͳǡͳͳͺȌ

Assetsin Assetsin Excess/ Excess/ (Shortfall)of (Shortfall)of UAALasa UAALasa Percentage ofCovered Percentage Funded AnnualCovered Payroll ofCovered Ratio(a/b) Payroll(c) Funded AnnualCovered ((aǦb)/c) Payroll Ratio(a/b) Payroll(c) ((aǦb)/c) ͲǤͲΨ ̈́ Ͷʹǡͻ͵ͳ ǦͶͻǤͺΨ ͲǤͲΨͲǤͲΨ̈́ Ͷͷǡ͵ͻʹ ǦͶͷǤͻΨǦͶͻǤͺΨ ̈́ Ͷʹǡͻ͵ͳ ͲǤͲΨͲǤͲΨ̈́ ͵ʹǡͲͳ͸ Ǧ͸͸ǤͲΨǦͶͷǤͻΨ ̈́ Ͷͷǡ͵ͻʹ

̈́ʹʹǡͷͳͷ ʹǡͶͳ͹  ͳͻǡͲͲͻ

̈́ ͳ͵ǡͳ͹ͷ ͵ǡͳͷͶ  ͳ͵ǡͷ͵ͻ

̈́Ͷ͵ǡͻͶͳ

̈́ʹͻǡͺ͸ͺ



 ˆ—”–Š‡”ƒ…‡ ‘ˆ ‹–• ’—”’‘•‡ –‘ „‡‡ˆ‹– –Š‡ …‘—‹–›ǡ –Š‡ ‘•’‹–ƒŽ ’”‘˜‹†‡• —‡”‘—• ‘–Š‡” •‡”˜‹…‡• –‘ –Š‡ …‘—‹–› ˆ‘” ™Š‹…Š …Šƒ”‰‡• ƒ”‡ ‘– ‰‡‡”ƒ–‡† ƒ† ”‡˜‡—‡• Šƒ˜‡ ‘– „‡‡ ƒ……‘—–‡† ˆ‘” ‹ –Š‡ ƒ……‘’ƒ›‹‰ …‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•ǤŠ‡•‡•‡”˜‹…‡•‹…Ž—†‡’”‘˜‹†‹‰ƒ……‡••–‘Š‡ƒŽ–Š…ƒ”‡–Š”‘—‰Š‹–‡”’”‡–‡”•ǡ”‡ˆ‡””ƒŽ ƒ† –”ƒ•’‘”– •‡”˜‹…‡•ǡ Š‡ƒŽ–Š…ƒ”‡ •…”‡‡‹‰ǡ …‘—‹–› •—’’‘”– ‰”‘—’• ƒ† Š‡ƒŽ–Š ‡†—…ƒ–‹‘ƒŽ ’”‘‰”ƒ•ǡ ƒ† …‡”–ƒ‹Š‘‡…ƒ”‡ƒ†Š‘•’‹…‡’”‘‰”ƒ•ǤŠ‡‡•–‹ƒ–‡†…‘•–•‘ˆ‡†‹…ƒ”‡’”‘‰”ƒ•‹‡š…‡••‘ˆ”‡‹„—”•‡‡–ˆ”‘ ‡†‹…ƒ”‡™‡”‡̈́͸͸ǡͺͷʹǡͲͲͲƒ†̈́ͷ͸ǡͺͳͲǡͲͲͲˆ‘”–Š‡›‡ƒ”•‡†‡† —‡͵ͲǡʹͲͳ͵ƒ†ʹͲͳʹǡ”‡•’‡…–‹˜‡Ž›Ǥ Š‡ ‘•’‹–ƒŽƒŽ•‘’”‘˜‹†‡••‡”˜‹…‡•–‘–Š‡…‘—‹–›–Š”‘—‰Š–Š‡‘’‡”ƒ–‹‘•‘ˆ–Š‡Žƒ‹‘ ‘•’‹–ƒŽ—š‹Ž‹ƒ”›ǡ …Ǥ ȋ–Š‡Dz—š‹Ž‹ƒ”›dzȌǤ‡”˜‹…‡•’”‘˜‹†‡†„›˜‘Ž—–‡‡”•‘ˆ–Š‡—š‹Ž‹ƒ”›ǡˆ”‡‡‘ˆ…Šƒ”‰‡–‘–Š‡…‘—‹–›ǡ‹…Ž—†‡ƒ••‹•–ƒ…‡ ƒ†…‘—•‡Ž‹‰–‘’ƒ–‹‡–•ƒ†˜‹•‹–‘”•ǡ’”‘˜‹•‹‘‘ˆ•…Š‘Žƒ”•Š‹’ƒ™ƒ”†•–‘“—ƒŽ‹ˆ›‹‰’ƒ”ƒ‡†‹…ƒŽ•–—†‡–•ǡƒ††ƒ‹Ž› ’‡”•‘ƒŽ …‘–ƒ…– ™‹–Š ‡„‡”• ‘ˆ –Š‡ …‘—‹–› ™Š‘ ƒ”‡ Ž‹˜‹‰ ƒŽ‘‡Ǥ  ʹͲͳ͵ ƒ† ʹͲͳʹǡ –Š‡•‡ ˜‘Ž—–‡‡”• …‘–”‹„—–‡†ƒ’’”‘š‹ƒ–‡Ž›ͳʹʹǡͲͲͲƒ†ͳʹ͸ǡͲͲͲŠ‘—”•ǡ”‡•’‡…–‹˜‡Ž›‹’”‘˜‹†‹‰–Š‡•‡•‡”˜‹…‡•ǡ–Š‡˜ƒŽ—‡‘ˆ™Š‹…Š‹• ‘–”‡…‘”†‡†‹–Š‡ƒ……‘’ƒ›‹‰…‘•‘Ž‹†ƒ–‡†ˆ‹ƒ…‹ƒŽ•–ƒ–‡‡–•Ǥ 

 ͲǤͲΨ ̈́͵ʹǡͲͳ͸ Ǧ͸͸ǤͲΨ Š‡ˆ‘ŽŽ‘™‹‰–ƒ„Ž‡•—ƒ”‹œ‡•–Š‡…ƒŽ…—Žƒ–‹‘‘ˆ–Š‡‡–„‡‡ˆ‹–‘„Ž‹‰ƒ–‹‘ˆ‘”–Š‡ ‘•’‹–ƒŽǯ•’‘•–”‡–‹”‡‡–‡†‹…ƒŽ  „‡‡ˆ‹–’Žƒȋ‹–Š‘—•ƒ†•Ȍǣ Š‡ˆ‘ŽŽ‘™‹‰–ƒ„Ž‡•—ƒ”‹œ‡•–Š‡…ƒŽ…—Žƒ–‹‘‘ˆ–Š‡‡–„‡‡ˆ‹–‘„Ž‹‰ƒ–‹‘ˆ‘”–Š‡ ‘•’‹–ƒŽǯ•’‘•–”‡–‹”‡‡–‡†‹…ƒŽ ʹͲͳ͵

̈́Ǧ

„‡‡ˆ‹–’Žƒȋ‹–Š‘—•ƒ†•Ȍǣ

FiscalYear

FiscalYear ʹͲͳͳ ʹͲͳʹ ʹͲͳͳ ʹͲͳ͵ ʹͲͳʹ ʹͲͳ͵

Beginningof YearNet Beginningof Benefit YearNet Obligation(a)

Benefit

Obligation(a) ̈́ ͳͶǡͳͻ͹ ̈́ͳͶǡͷ͵ͷ ̈́ ͳͶǡͳͻ͹ ̈́ ͳͶǡͺ͵ʹ ̈́ͳͶǡͷ͵ͷ ̈́ͳͶǡͺ͵ʹ

Annual Required Annual Contribution(b)

Required

Actual Contribution(c)

Actual

Annual Postretirement Annual BenefitCost(d)

EndofYearNet IncreaseinNet Benefit EndofYearNet Benefit Obligation Benefit IncreaseinNet ((a)+(dǦc)) Obligation(dǦc)

Postretirement

Benefit

Obligation

Obligation(dǦc) BenefitCost(d) Contribution(b) Contribution(c) ̈́ ͻͺʹ ̈́ ͹͹Ͷ ̈́ ͳǡͳͳʹ ̈́ ͵͵ͺ ̈́((a)+(dǦc)) ͳͶǡͷ͵ͷ ̈́ͺͻͲ ̈́ ͹ʹ͹ ̈́ ͳǡͲʹͶ ̈́ʹͻ͹ ̈́ͳͶǡͺ͵ʹ ̈́ ͻͺʹ ̈́ ̈́ ̈́ ͳǡͳͳʹ ̈́ ̈́ ̈́ ̈́ ͺͻ͸ Ͷ͸ͺ͹͹Ͷ ̈́ ͳǡͳ͹͹ ͹Ͳͻ ͵͵ͺ̈́ ͳͷǡͷͶͳͳͶǡͷ͵ͷ ̈́ͺͻͲ ̈́ͺͻ͸

̈́ ͹ʹ͹ ̈́ Ͷ͸ͺ

̈́ ͳǡͲʹͶ ̈́ ͳǡͳ͹͹

̈́ʹͻ͹ ̈́͹Ͳͻ

̈́ͳͶǡͺ͵ʹ  ̈́ͳͷǡͷͶͳ



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December 13, 2013 ■ Mountain View Voice ■ MountainViewOnline.com ■

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â&#x2013;  Mountain View Voice â&#x2013;  MountainViewOnline.com â&#x2013;  December 13, 2013


2013 12 13 mvv section2