2017/18 Budget includes $144.1 million in operations, $17.8 million in capital
The Cypress Regional Health Authority (CRHA) has approved the Region’s 2017/18 operating and capital budgets. The approvals were made during the Authority’s regular monthly board meeting on May 31.
The 2017/18 operating budget totals $144.1 million and continues the Region’s focus on delivering safe, high quality health services through the broad range of health programs and services available.
“Our health region is committed to using our resources wisely and to ensure that our residents have access to appropriate health services,” commented Larry Allsen, Interim Chief Executive Officer and Chief Financial Officer for Cypress Health. “This has been a challenging budget in a challenging fiscal time throughout the province, however our ultimate goal is always to give our patients, residents, and clients the best possible healthcare experience.”
A total of 81% of the Region’s budget, or $116.6 million, will be directed towards staff compensation.
Provincial funding accounts for the majority of the Region’s annual budget which received a 0% increase to base funding compared to the 2016/17 fiscal year. The accountability document issued by the Ministry of Health required the Health Region to find $9.239 million in efficiencies for the 2017/18 fiscal year. The initiatives used to reach the target included operating efficiencies, using capital reserves, savings realized through program changes announced in the March 22 provincial budget, and drawing from the Region’s unrestricted surplus.
“We have worked very hard throughout this year’s budget process to meet our $9.239 reduction target while trying to maintain program and service levels. We owe a lot of thanks to our staff that has done everything they can to find efficiencies which has resulted in surpluses for the past several years. It is because of this strong fiscal management that we are able to pull from our reserves in a challenging budget year like this year,” added Allsen.
The utilization of the Region’s unrestricted surplus will leave less than $300,000 available for emergent capital needs. The reserve will be depleted in what will be the final budget for the Cypress Health Region before transitioning to the new Saskatchewan Health Authority.
In addition to the $144.1 million operating budget, the Board also approved a $17.808 million capital budget. The capital budget is primarily made up of new facility construction projects, including Leader and The Meadows in Swift Current, which account for $14.512 million. The remaining capital budget will be used for equipment in the amount of $2.392 million, minor renovations totaling $756,000, and mortgage payments of $148,000.
The Board approved 2017/18 operating and capital budgets will be submitted to the Ministry of Health.