Second quarter 2010-2011 financial results released
December 2, 2010
EDMONTON – Alberta Health Services (AHS) today released its second quarter financial results for the 2010-11 fiscal year, reflecting AHS’ commitment to transparency and accountability.
At September 30, 2010, total actual revenues are $6 billion and total actual expenses are $5.2 billion, resulting in revenue over expenses of $803 million.
The $803 million is due primarily to the one-time funding provided by the provincial government to cover the prior years’ accumulated deficit, internally funded capital equipment and timing differences in incurring expenses, which generally will result in a balanced accumulated surplus at March 31, 2011.
“We are currently tracking to budget,” said Ken Hughes, Chair, AHS Board of Directors. “Most importantly, thanks to a five-year funding commitment from the Alberta government, we are in a stable financial situation to focus on investing in high priority areas of service such as improved choice and access for seniors, and reduced wait times in emergency departments.
“While we are in good financial shape right now, we know that the second half of the fiscal year, particularly the last quarter, has proportionately greater expenses due to seasonal variations. We will continue to be prudent in our planning and spending,” said Hughes.
AHS’ fiscal year runs April 1, 2010 to March 31, 2011.
Second quarter results compared to budget on September 30, 2010
- Total current revenues of $6.004 billion (budgeted $6.037 billion)
- Total current expenses of $5.201 billion (budgeted $5.333 billion)
- Second quarter surplus of $803 million (budgeted $704 million)
Year-end forecast compared to budget
AHS is currently forecasting an accumulated surplus of $20 million at March 31, 2011.
- View financial statements http://www.albertahealthservices.ca/2220.asp
Alberta Health Services is the provincial health authority responsible for planning and delivering health supports and services for more than 3.7 million adults and children living in Alberta. Its mission is to provide a patient-focused, quality health system that is accessible and sustainable for all Albertans.
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