Comox Strathcona Regional Hospital District Adopts 2014 Budget

The Comox-Strathcona Regional Hospital District (CSRHD) has adopted a 2014 budget of $82.6million.

The budget will see an estimated tax rate of $83.78 per $100,000 of assessed property value, which is an increase of $3.44 per $100,000 from last year   This increase reflects the board’s strategy to gradually increase the tax rate over the short term in order to minimize future increases that will be required for long term debt costs for the north island hospitals project.

“The CSRHD’s share of the projected capital cost of two new hospital facilities – known as the north island hospitals project -- based on a cost estimate of approximately $600 million, is approximately $240 million,” said Claire Moglove, CSRHD chair.  “A gradual tax rate increase from 70 to 84 cents per $1,000 of taxable value was first initiated in 2009 in order to be proactive and to financially plan for the two new hospitals.  At the beginning of 2014, the reserve balance is $80.3 million, and once expenditures on the north island hospitals project have been made this year, the reserve balance will be approximately $17 million, which could substantially reduce our borrowing requirements and debt payments.”  

In addition to planning for the new hospitals, the CSRHD has also allocated $581,000 towards new capital projects and equipment in the existing hospitals in the Comox Valley and Campbell River, and in other facilities supported by the regional hospital district.  In addition, approximately $2.6 million is being carried forward for previous years’ projects not yet completed.  A complete list of funding allocations is attached.

The CSRHD provides capital funding, cost shared with the provincial government on a 60/40 basis, with the hospital district portion being 40 percent.  The facilities that the CSRHD funds are: Campbell River & District General Hospital, St. Joseph’s General Hospital, Cumberland Regional Hospital Laundry Society, Gold River Health Clinic, Sayward Primary Health Centre and the health centres on Cortes, and in Kyuquot, Tahsis and Zeballos.

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Media contacts:

Claire Moglove, Chair
Comox-Strathcona Regional Hospital District
Tel: 250-286-9946 Cell: 250-203-7250 
Email: claire.moglove@campbellriver.ca  

Wendy Byrne
Manager of financial planning
Comox Valley Regional District
Tel: 250-334-6078
Email:  wbyrne@comoxvalleyrd.ca



Unallocated amounts for capital budget of funded facilities:

  • Cumberland Regional Hospital Laundry Society;   $2,500.00
  • Gold River Health Centre;                                            $2,500.00
  • Tahsis Health Centre;                                                  $2,500.00
  • Cortes Island Health Centre;                                       $2,500.00
  • Kyuquot Health Clinic;                                                 $2,500.00
  • Zeballos Health Centre;                                               $2,500.00
  • Sayward Primary Medical Health Care Centre;       $2,500.00

               

Equipment & Projects >$100,000 and <$1,500,000

  • Campbell River & District General Hospital
    Project: MIN-C-Arm Fluoroscopy Machine
    Total Cost: $212,175
    VIHA/Other: $127,305
    CSRHD:  $84,870

  • St Joseph's General Hospital
    Project: Sterrad Sterilizer
    Total Cost: $226,541
    VIHA/Other: $135,925
    CSRHD:  $90,616

  • St Joseph's General Hospital
    Project: Eagleview Building Envelope – Phase 1
    Total Cost: $275,000
    VIHA/Other: $165,000
    CSRHD:  $110,000

  • Equipment & Projects between $5,000 and $100,000
    Total Cost:      $713,716
                               $738,897
    VIHA/Other:    $428,230
                              $443,338
    CSRHD:            $285,486
                              $295,559

    Total funding allocation:
    Total Cost:  
    $1,452,613
    VIHA/Other:   $871,568
    CSRHD:   $581,045