Quinte Health Care’s Board of Directors November 26/19. (Photo: John Spitters/Quinte News)
There’s been a positive trend just recently when it comes to the finances of Quinte Health Care.
In its latest forecast, management is predicting only an $885,000 deficit at the end of the year.
That’s lower than the budgeted for $1.44 million.
The financial situation could have been much worse but the provincial government recently injected a one time cash boost of
$5 million for this fiscal year.
Also QHC will receive well over $1 million in utilities rebates that hadn’t been budgeted for.
President and CEO Mary Clare Egberts expressed cautious optimism that the province could soon bring news of an annual
increase in QHC’s baseline funding which would ease yearly budget scares and the need for sudden emergency funding.
The QHC Board of Directors also heard that there’s a possibility that the fiscal year could end in a “balanced” budget position.
