HSN reports fourth consecutive balanced budget

Health Sciences North reported its fourth consecutive balanced budget for the fiscal year ending March 31, 2016.

The hospital announced it had balanced its budget during its annual general meeting on Thursday, June 23.

Hospital revenues were up to $451 million, compared to nearly $441 million in the previous fiscal year.

The hospital had expenses of nearly $449 million, with the largest portion – $210 million – going to salaries and wages.

Salaries were up four per cent, or $8 million, compared to the previous fiscal year due to a labour rate increase and the impact of increased patient activity.

The hospital also spent $56 million on employee benefits, $59 million on supplies and $28 million on specifically funded programs.