June 25, 2010
FREDERICTON (CNB) - Regional health authorities in New Brunswick have recorded a combined year-end surplus for the first time in more than a decade.
Year-end results for fiscal 2009-10 were announced during regional health authority board meetings on Thursday, June 24. They reveal a combined surplus totalling $4 million in the first full year of operation for the new health authority structure.
"I want to congratulate both regional health authorities for their continued efforts in containing costs while continuing to deliver high quality patient service," said Health Minister Mary Schryer. "These financial results show we are making great progress towards a sustainable health system which empowers health authorities to maximize their resources and deliver balanced budgets."
The Vitalité Health Network, formerly Regional Health Authority A, recorded a surplus of $4.9 million for the last fiscal year, while the Horizon Health Network finished the year well within 0.5 per cent of its revenues with a deficit of about $900,000.
Regional health authorities can use surplus funds for one-time expenditures. The Vitalité Health Network will reinvest its surplus of $4.9 million in 2009-10 into one-time expenditures.
Prior to the creation of two health authorities in New Brunswick, the former eight regional health authorities recorded a combined deficit of $44 million in 2007-08 and a $29 million in 2008-09.
"This positive financial situation is the result of remarkable ongoing efforts by the entire staff and the stakeholders of the Vitalité Health Network," said Aldéa Landry, board chair. "On behalf of the board of directors and the administration, I wish to thank them sincerely for their efforts."
"Horizon Health Network is proud to have completed the fiscal year within 0.5 per cent of its revenues while continuing to make advances in service delivery and improving the quality and safety of patient care to the residents of New Brunswick," said Donald J. Peters, president and chief executive officer, Horizon Health Network. "Horizon, which operates a $1.1-billion budget with 14,000 employees and 1,000 physicians, will continue to exercise fiscal prudence while endeavouring to provide the best possible care."
MEDIA CONTACT: Marie-Andrée Bolduc, communications, Department of Health, 506-444-3506.