2013 impressive year for JPPHSC

By ALFREDO P HERNANDEZ

THE performance of the Jose Panganiban Primary Hospital Service Cooperative (JPPHSC) for the year 2013 was impressive, with net surplus jumping to more than 349%.

This was declared by Maricel C Isagani, cooperative hospital administrator, based on the 2013 financial performance of the health facility.

Last year, JPPHSC posted a hefty net surplus of 349.11%, or P4.4 million, as against P1 million posted in 2012.

Net assets surged 49% to P17.13 million, from the previous year’s only P11.49 million.

The value of share capital in 2013 jumped 54%, to P7.28 million last year, from the previous year’s only P4.7 million.

Over the previous five years from 2009, the value of assets at the end of 2013 rocketed 235.97% to P17.13 million, from a measly P5 million five years ago.

The financial report also revealed that last year, the co-op generated  a revenue of P134.7 million, but spent P8.9 million, or 66.65% during the year to support its operations.

During the year in review, the co-op had P10.2 million in a number of bank accounts, up 74.71% from P5.84 posted in 2012.

The funds were deposited in the Rural Bank of Paracale P289,478; Land Bank (checking account) – P6.5 million; Rural Bank of Jose Panganiban (savings account) – P1.4 million; LPMPC-JP Branch (time deposit) –P504,000; Land Bank- Daet (TD) – P500,000; Land Bank- Labo (TD)- P500,000; and PNB Daet (TD) – P500,000.

At the end of last year, the co-op had total receivables of P1.29 million from PhilHealth.

 Also during the year, the cooperative passed a resolution approving the release of dividends to members as of April 15, 2013.    

  

Such dividends were expected to be drawn from an account called “Amount available for interest on share capital” amounting to P3.14 million, or 70% of the allocated surplus of P4.49 million.

At the end of last year, the co-op hospital had 40 regular employees and three contractual staff that included a visiting physician, a pharmacist and an X-ray technologist.

Also, it had 627 co-owners.

The hospital is patronized by the residents of Mambulao and those from the neighboring towns of Paracale and Labo.

Polilio Island residents in Quezon use the hospital as this is nearer than the health facilities in their province.