b'PRESBYTERIAN HOMESFINANCIAL OVERVIEWYEARS ENDED MARCH 31, 2022 AND 2021(DOLLARS IN THOUSANDS)CONSOLIDATED BALANCE SHEETASSETS FY 2022 FY 2021Cash and cash equivalents, investments intrading portfolio, excluding those whose use is limited$ 225,564 $ 208,305Assets whose use is limited25,544 35,278Accounts receivable and other receivables4,863 3,594Due from related parties615 127Prepaid insurance and other2,550 2,281Property and equipment, net378,182 365,372Right-of-use operating lease assets1,614 1,907Other long-term assets2,461 1,265TOTAL ASSETS$ 641,393 $ 618,129LIABILITIES AND NET ASSETSAccounts payable, deposits and accrued liabilities$32,943 $26,744Entrance fee refunds13,700 13,900Due to related parties 212Notes and bonds payable187,535 194,134Deferred entrance fees123,296 118,223Refundable entrance fees126,106 123,552Lease liabilitiesoperating1,798 2,105Other long-term liability6,188 7,548Net assets149,827 131,711TOTAL LIABILITIES AND NET ASSETS$ 641,393 $ 618,129CONSOLIDATED STATEMENT OF OPERATIONSOPERATING REVENUEMonthly fees$ 106,374 $99,231Other revenue4,043 5,259 TOTAL RESIDENTIAL REVENUE110,417 104,490 Entrance fee amortization18,528 18,871 Reimbursement from Geneva Foundation4,234 4,872TOTAL OPERATING REVENUE$ 133,179 $ 128,233OPERATING EXPENSESSalaries and benefits$61,321 $60,946Supplies 8,089 7,879Purchased services20,893 18,360Utilities 4,137 3,931Other4,620 4,628Depreciation30,425 29,616TOTAL OPERATING EXPENSES129,485 125,360OPERATING INCOME$3,694 $2,873NON-OPERATING EXPENSESInvestment gain (loss)$2,769 $31,923Change in fair value of interest rate swap2,676 1,516Interest expense(4,178)(4,574 )Other655 5,785TOTAL NON-OPERATING EXPENSES1,922 34,650NET ASSETS TRANSFERRED FROM AFFILIATE$12,500 5,000CHANGE IN NET ASSETS$18,116 $42,523PRESBYTERIAN HOMES & GENEVA FOUNDATION 2022 ANNUAL REPORT13'