Omeo District Health Annual Report 2005/06

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Financial Results Summary Chart Financial 2005/2006 2004/2005 2003/2004 2002/2003 2001/2002 $,000 $,000 $,000 $,000 $,000 Total Expenses 3,822 3,058 2,753 2,689 2,299 Total Revenue 3,559 5,738 4,375 2,812 2,084 Operating Surplus / (Deficit) (263) 2,680 1,638 123 (215) Retained Surplus 3,980 4,243 1,544 1,523 1,535 (Accumulated Deficit) Total Assets 8,882 7,545 4,976 2,937 2,970 Total Liabilities 803 843 973 573 726 Net Assets 8,079 6,702 4,002 2,364 2,244 Total Equity 8,079 6,702 4,002 2,364 2,244 Summary of Significant Changes in Financial Position during Financial Year The total asset of the service increased by $1,377,000 as a result of the following:- • The revaluation of land and buildings as at 30 June 2006 resulting in an increase in the valuation of $1,620,000; and • The write back of the book value of the equity in the GHA Alliance of $480,000 following an adjustment of the interests of various members of the Alliance. The service incurred a deficit of $263,000 after capital grants ($35,000), depreciation charges ($22,000) and the above write back of the GHA Alliance interest. Operational and Budgetary Objectives of Omeo District Health The budgetary objectives for Omeo District Health were to move its operational results towards achieving a break-even position before depreciation and capital items. Summary of Major Changes or Factors Affecting Achievement of Operational Objectives The service performed better than the budgeted outcome for the reporting period. This was achieved through higher occupancy levels in the nursing home and hostel following the completion of the redevelopment of the facility, increased grant income, and cost savings. Events Subsequent to Balance Day, which may have significant effect on Operations in Subsequent Years No events that may have a significant effect on the operations of Omeo District Health have occurred since the end of the reporting period and the date of this report. Consultancies costing in excess of $100,000 (ex GST) Nil. Consultancies costing less than $100,000 (ex GST) There was one consultancy undertaken in April 2006 to the value of $3,900. 28
Revenue Indictors Average Collection Days 2006 2005 Private (Acute) 47 30 TAC (Acute, Physio & Outpatients) 62 65 VWA (Acute, Physio & Outpatients) 60 62 Other Compensable (HACC) 30 30 Other Compensable (Physio, Medical Centre & Outpatients) 32 33 Psychiatric 0 0 Residential Aged Care 30 30 Debtors Outstanding at 30 June 2006 Under 30 Days 30 – 60 Days 60 – 90 Days Total at 30/06/06 Total at 30/06/05 Private (Acute) 529 529 0 1,053 464 1,517 432 TAC (Acute, Physio & Outpatients) VWA (Acute, Physio & Outpatients) Other Compensable (HACC) Other Compensable (Physio, Medical Centre, Outpatients & Sundry Other) 566 13 579 63 8,124 8 1,032 9,164 - 5,021 57 1,200 6,278 22,831 Psychiatric 0 0 Residential Aged Care -900 646 -254 546 TOTAL 13,864 78 3,871 17,813 23,872 Abbreviations: ‘TAC’ - Transport Accident Commission ‘VWA’ - Victorian Workcover Authority 29
Page 1 and 2: 114 th Annual Report for the year e
Page 3 and 4: Our History When gold was discovere
Page 5 and 6: Governance Overview Board of Manage
Page 7 and 8: Finance & Audit Sub-Committees Pres
Page 9 and 10: Board Chair & Chief Executive Offic
Page 11 and 12: Engaging and Educating the Communit
Page 13 and 14: Clinical Services Omeo District Hea
Page 15 and 16: Community Services Community Servic
Page 17 and 18: Physiotherapy Omeo District Health
Page 19 and 20: Support Services Support Services e
Page 21 and 22: Educational initiatives as a result
Page 23 and 24: Chief Executive Officer / Director
Page 25 and 26: Community Services Manager - Commun
Page 27: Building & Maintenance Compliance I

Omeo District Health Annual Report 2005/06

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