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March Quarter Public Hospitals Financial Stats

March Quarter Public Hospitals Financial Statistics

Hospital and Health Service (HHS) providers recorded a $0.3 million operating surplus for the March 2000 quarter. Figures released today by Statistics New Zealand show a $1.2 million decline on the $1.5 million surplus recorded in the March 1999 quarter, said Deputy Government Statistician Ian Ewing. However, for the nine months to March 2000 the operating result was a surplus of $9.2 million compared to a $22.6 million deficit a year earlier.

Thirteen of the 24 HHS providers recorded an operating surplus in the March 2000 quarter.

Result for the March 2000 quarter Operating income in the March 2000 quarter was $840.8 million, up $49.1 million from the same quarter a year earlier. Over the same period the cost of providing services increased by $50.2 million, or 6.4 per cent, to reach $840.4 million.

The increase in operating income was primarily the result of a $51.7 million increase in government funding. In the March 2000 quarter government funding represented 93.5 per cent of total operating income.

Result for the nine months to 31 March 2000 Government revenue was $2,375.0 million in the nine months to March 2000, up 7.2 per cent from the revenue received in the nine months to March 1999. Expenditure reached $2,529.6 million, 4.3 per cent higher than the same period a year ago.

Taxpayers' equity and debt Taxpayers' equity and debt have increased. Taxpayers' equity was $932.6 million at the end of March 2000, $33.7 million higher than the level recorded at the end of the March 1999 quarter. Total debt was $17.4 million higher than the previous March quarter reaching $1,403.8 million. The debt to equity ratio dropped slightly from 1.54 in the March 1999 quarter to 1.51 in the March 2000 quarter.

Capital expenditure The book value of fixed assets also increased over the year to reach $1,799.9 million. The HHS providers acquired $74.2 million of fixed assets, up 35.9 per cent on the March 1999 quarter. They sold $6.8 million of fixed assets during the March 2000 quarter. The debt to fixed asset ratio of 0.78 is down on 0.80 recorded in the March 1999 quarter.

Total assets were valued at $2,336.3 million at the end of March 2000 quarter, an increase of $51.0 million or 2.2 per cent from the value at the end of March 1999.

Ian Ewing

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