Hawaii

Hawaii Community Health Center Financial Analytics Dashboard Summary

The Hawaii Community Health Center Financial Analytics Dashboard summary aggregates the audited financial statement data for fiscal years 2016 to 2021 of 14 community health centers in Hawaii.

Click the button below to access the dashboard and view community health center-specific data or keeping scrolling down to view state-level summary data.

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Key State-Level Findings

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Finding #1: Audits for 14 community health centers are included

Audits for most community health centers were available for public review via the Federal Audit Clearing House.

Annual “audit available” comparison analytics

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Finding #2: Total revenues exceeded $215M in 2021*

Year-over-year average total revenue growth was significant, representing a 10% increase from 2016 to 2021.

*Missing three key audited financial report for the 2021 analysis. Total revenues will eclipse $250M once the data is included.

Revenues vs. Expenses Analytics

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Finding #3: Total assets exceeded $236M in 2021*

Year-over-year average total asset growth was significant, representing a 26% increase from 2016 to 2021.

*Missing three key audited financial report for the 2021 analysis. Total assets will eclipse $275M once the data is included.

Assets vs. Liabilities Analytics

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Finding #4: Total Net Operating Income exceeded $14M in 2021*

Year-over-year average total net operating income growth was significant, representing a 328% increase from 2019 to 2021.

*Missing three key audited financial report for the 2021 analysis. Total net operating net income will eclipse $17M once the data is included.

Net Operating Income Analytics

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Finding #5: Average Operating Margins exceeded 13% in 2021

Average operating margins increased by 218% from 2019 to 2021, representing a three-year high in 2021.

Note: The operating margin is a profitability metric used to measure the percentage of revenue a health center keeps as operating profit—2-4% is ideal.

Operating Margin Analytics

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Finding #6: Net Assets approached $160M in 2021*

Year-over-year average net asset growth was positive, representing an 13% increase from 2016 to 2021.

*Missing three key audited financial report for the 2021 analysis. Total net assets will eclipse $165M once the data is included.

Net Asset Analytics

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Finding #7: Average Return on Net Assets (RONA) exceeded 15% in 2021

The average RONA increased by 912% from 2019 to 2021, representing a six-year high in 2021.

Note: The return on net assets (RONA) metric is a profitability metric that measures how well health center management deploys assets. Higher values indicate management squeezing more earnings from each dollar invested in assets. RONA is also used to assess how well a health center is performing compared to others in its sector (5% is good; 20%+ is great).

Return on Net Assets (RONA)
Analytics

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Finding #8: Salaries as a % of revenues exceeded 55% in 2021

The average salary expenditures as a percentage of total revenues declined from a high of 64% in 2019 and 202 to a low of 55% in 2021.

Note: The salary expense to revenue metric is an operational efficiency metric that measures how much-earned revenue is allocated to payroll costs and employee benefits—45% – 55% is the sector average.

Salaries vs. Revenues
Analytics

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Finding #9: Average days of cash on hand exceeded 119 days in 2021

The average days of cash on hand increased by 98%, from 60 days in 2016 to 119 days in 2021.

Note: Days of cash on hand is a liquidity metric used to measure financial security. It is calculated as total cash and cash equivalents divided by current liabilities. It estimates the days a health center can pay its daily operation and maintenance costs before running out of cash—180 days minimum is ideal.

Days of Cash Analytics

Finding #10: Average current ratio exceeded 3.0 in 2021

The average current ratio increased by 10% from 3.89 in 2016 to 4.27 in 2021.

Note: The current ratio is a liquidity metric used to measure a health center’s ability to pay short-term obligations or those due within one year (2.0+ is ideal).

Current Ratio Analytics

Finding #11: Average fixed assets as a % of net assets declined to 76% in 2021

The average fixed assets as a percentage of net assets declined from a high of 222% in 2016 to a low of 76% in 2021.

Note: The fixed asset to net asset metric is an asset utilization metric that measures, in percentage terms, the portion of total assets that are tied up with fixed assets. It shows the extent to which unrestricted net assets are frozen in the form of fixed assets, such as property, plant, and equipment. Lower percentages are better, with percentages in excess of 100% indicating a reliance on debt to finance fixed asset purchases.