Results refer to actual values.
Quarterly results
The total district health board (DHBs) deficit was $12.5 million in the March 2006 quarter. This compares with a deficit of $21.8 million in the December 2005 quarter. The deficit of $12.5 million, although lower than the previous quarter, contrasts with an operating surplus of $29.3 million in the March 2005 quarter.
When compared with the December 2005 quarter, total DHB expenses decreased by $17.6 million, to $2,279.8 million in the March 2006 quarter. The two major components were operating expenditure by hospital and health service providers (HHS) at $1,301.7 million (down 0.4 percent), and the purchase of medical services by non-government providers and inter-DHB services at $967.5 million (down 1.1 percent).
Total operating expenses of HHS providers were down 0.4 percent on the December 2005 quarter but were up $104.7 million (8.7 percent) compared with the March 2005 quarter.
In the March 2006 quarter, total DHB revenue was $2,267.3 million, down 0.4 percent from the December 2005 quarter, and up 8.2 percent from the March 2005 quarter. Funding from the Ministry of Health increased marginally this quarter from the December 2005 quarter, to $1,900.6 million. Other funding from government, which includes inter-DHB receipts, decreased by 3.2 percent, to $268.1 million.
Equity and liabilities
Total equity and liabilities increased to $3,991.0 million at 31 March 2006. Liability levels were up $58.3 million, to $2,582.9 million. Total liabilities consisted of current liabilities of $1,351.5 million (up $32.8 million), long-term loans of $1,144.0 million (up $26.1 million), and other term liabilities of $87.4 million (down $0.6 million).
The increase in liabilities has been largely offset by the increase in the value of total assets, with a consequent increase in taxpayers' equity in DHBs to $1,408.1 million. As a result, the debt to equity ratio has risen marginally this quarter, up from 1.81 in the December 2005 quarter to 1.83 in the March 2006 quarter.
Assets
The total value of DHB assets was $3,991.0 million at 31 March 2006, up $73.8 million compared with 31 December 2005. Increases were recorded in the value of all asset categories as a result of normal business – the value of inventories was up $2.9 million, and other current assets were up $11.3 million. Fixed assets increased $26.3 million, mainly due to work in progress. The rise in the value of investments (up $33.2 million) was mainly attributed to an increase in short-term investments. Additions to fixed assets were down 8.4 percent (to $88.7 million) on the December 2005 quarter.
Revisions
This release incorporates audited data relating to the June 2005 year. As a result, there have been revisions to the June 2005 quarter statistics. There have been no revisions to any previous quarters.
For technical information contact:
Johan van der Schyff
Wellington 04 931 4600
Email: national.accounts@stats.govt.nz