The Sunrise Health Region has managed a modest surplus for 2015-16.
“The operating expenses are less than operating revenues by $2 million and change,” Suann Laurent, President and CEO of the Region told the regular Board meeting last Wednesday.
The actual number in the monthly monitoring report showed the difference to be $2,093,602 up to and including March 31, 2016.
However the actual year-end margin is much slimmer.
The Region is required to budget for a surplus of $2,062,407 in order to cover mortgage and energy renewal payments, noted the report.
As a result the Region achieved a $31,195 surplus to budget.
On the revenue side “total Operating Revenue is over budget by $5,335,842. This represents a 2.4 per cent variance to year-to-date, (YTD), budget,” detailed the report.
“The variance is a result of greater Special Payments being paid $2,130k, ambulance fees are lower ($178k) and reciprocal billing is lower ($1,095k) due to volume. As mentioned, we received a one-time WCB rebate of $1.2 million plus we recognized an additional $1,535k of deferred funding to match expenses incurred for those projects.”
In terms of expenses the biggest over budget area was Inpatient and Resident Services.
“Total inpatient and resident services are over budget by $4,947,119. This represents a 5.8 per cent variance to YTD budget. Majority of this variance is within compensation due to higher than expected sick leave utilization and overtime. Collective agreement retroactive pay included is in this value. We received additional funding in Special Payments recorded above.”
Interim Board Chair Don Rae said it was a group effort to achieve the surplus.
“Good job everybody. We know how hard it’s been,” he said.
