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Health Service Providers Record Deficit

Public Health Financial Statistics: September 2001 quarter

Public Hospital and Health Service Providers Record Deficit

The hospital and health service (HHS) provider function of the District Health Boards recorded a provisional operating deficit of $42.3 million in the September 2001 quarter, according to Statistics New Zealand. This is the sixth consecutive quarterly operating deficit since the surplus of $5.7 million recorded in the March 2000 quarter. In the latest quarter, total income fell $8.8 million to $941.4 million, a decrease of 0.9 per cent from the June 2001 quarter. Over the same period, costs of providing services at $983.7 million were 0.6 per cent up on the previous quarter and 7.2 per cent higher than the September quarter a year earlier.

Although revenue from Government fell by $7.5 million (or 0.9 per cent) in the September 2001 quarter compared with the June 2001 quarter, it was up $41.7 million (or 5.0 per cent) on the September 2000 quarter. The proportion of income from this source has moved from 90.7 per cent of total funding in the September 2000 quarter to 92.8 per cent of total funding in the September 2001 quarter.

By the end of September 2001, taxpayers' equity had fallen $12.0 million to $888.2 million, reflecting continuing deficits. This was $41.6 million lower than at the end of September 2000. Although debt fell by $25.5 million during September 2001, to a level of $1,680.3 million, it is now $112 million higher than the same quarter a year earlier. This resulted in a higher debt equity ratio, which moved from 1.69 at the end of September 2000 to 1.89 at the end of September 2001.

At the end of September 2001, total assets of the HHSs were valued at $2,568.5 million, an increase of $70.5 million or 2.8 per cent on the value at the end of September 2000.

The book value of fixed assets at the end of September 2001 was $2,099.5 million, an increase of 3.8 per cent or $76 million for the June 2001 quarter.

Brian Pink Government Statistician END

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