Annual Report 2017-18 | Monash Health
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Note 8.11: Economic dependency<br />
Notes to the Financial Statements<br />
<strong>Monash</strong> <strong>Health</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2017</strong>/20<strong>18</strong><br />
<strong>Monash</strong> <strong>Health</strong> is wholly dependent on the continued financial support of the State<br />
Government and in particular, the Department of <strong>Health</strong> and Human Services.<br />
The Department of <strong>Health</strong> and Human Services has provided confirmation that it will<br />
continue to provide <strong>Monash</strong> <strong>Health</strong> adequate cash flow support to meet its current<br />
and future obligations as and when they fall due for a period up to September 2019.<br />
The hospital’s current asset ratio improved slightly but continues to be below an<br />
adequate short term position (20<strong>18</strong>: 0.51 and <strong>2017</strong>: 0.48) while cash generated<br />
from operations fell to a surplus of $79m from $112m in <strong>2017</strong>. Cash reserves<br />
increased to $160m from $116m in <strong>2017</strong>. A letter confirming adequate cash flow<br />
was also provided in the previous financial year.<br />
The financial statements have been prepared on a going concern basis.<br />
137
Change language