What a difference a month can make when it comes to the exact financial position of the Sunrise Health Region.
The Region showed an operating deficit of $233,364 through to April 30, this year, according to material circulated at the regular board meeting of the SHR last Wednesday.
By July 31, the same report showed the budget was moving into line, with a deficit to-date of $38,044.
A month further into the year, the deficit on the operating budget had turned into a surplus of $778,000 through until the end of August, said Suann Laurent, President and CEO of SHR. A full report on August financials was not yet available to the Board.
“We’re in a good place now,” she said, adding month-to-month there can be swings in operating.
Laurent also noted that while $778,000 may seem significant it is less so when viewed against a total operating budget of $225 million, and a budget where daily wage costs are some $459,000.
In terms of some financial details, through until July 31, operating revenue was under budget by ($409,940). This represents a 0.5 per cent variance to the year-to-date (YTD) budget.
“The variance is a result of lower Special Payments being paid ($221k) and lower “other provincial Ministry” funding ($292k). These payments will be forwarded later on in the year. Patient and client fees are under budget by ($216k) but it is expected that will be recovered during the year. This was offset with higher than budgeted reciprocal payments of $87k and general recoveries of $302k,” detailed the circulated report.
Total inpatient and resident services were over budget by $896,069.
“This represents a 3.1 per cent variance to YTD budget. Majority of this variance is within compensation in medical and surgical nursing units ($382k), long term care nursing ($466k) and mental health inpatient ($189k) due to higher than expected sick leave utilization and overtime. The scheduling optimization committee is working with the nursing managers for the Yorkton District Nursing Home and the Yorkton Regional Health Centre to reverse this trend,” noted the report.
Physician compensation was under budget by ($506,664).
“This represents a 10.4 per cent variance to YTD budget. There are fluctuations in the timing of payments. There is a partial offset of revenue variance for the specialist on call payments as there is a delay in the payments from the ministry. We will continue to monitor this variance,” stated the report.
“Our diagnostic and therapeutic services are under budget by $229,573. This represents a 3.2 per cent variance to YTD budget. Majority of the variance is in Clinical Laboratory at ($93k), Medical Imaging at ($72k), and two FTE under budget due to vacancies. Rehabilitation is also under budget by ($197k) and one FTE. Pharmacy is over budget by $108k and one FTE. The scheduling optimization committee is working with the pharmacy to reverse this trend. We will continue to monitor this variance.
“Our community health services are under budget by $433,637. This represents a 3.4 per cent variance to YTD budget. These are surpluses in primary health care ($82k), home care ($199k), mental health and addictions ($89k) and emergency response services ($56k). There are smaller variances in other areas. Please review the attached Operating Expenditures by Function report for individual variance amounts.”
