CRD receives green light on all three audits

It was reaffirming for Cariboo Regional District CFO Scott Reid to receive a clean audit for the three CRD entities.

It was reaffirming for Cariboo Regional District CFO Scott Reid to receive a clean audit for the three CRD entities.

On Friday, March 22, CRD staff and the board accepted the 2012 audited financial statements for the Cariboo Hospital Regional District and the Cariboo Chilcotin Regional Hospital District and the Cariboo Regional District.

Other than fleshing out notes in each audited statement, to “explain points further,” auditor Kane Fraser of PMT Chartered Accountants gave the CRD three clean audits.

Breaking down the three entities, Reid noted in the CRHD budget there was a current surplus at the December year-end of $1 million.

The CRHD will only remain in existence until the debt extinguishes in 2018, he explained.

For the CCRHD, the surplus at year end was approximately $22.1 million, there were cash investments of $23.7 million, funds that are available for capital expenditures with the region’s two health authorities.

Area C director John Massier, also chair of the hospital districts, told staff at the board meeting that he would like to receive the audit reports earlier so directors can read them prior to approving them at the board meeting.

However, he said the important points are always the auditor’s opinions.

“This is about as clean as a bill of health as you can get from an audited set of statements,” Massier said of the 2012 statements.

“I think we’re pleased as a board that the auditors have found no problems in our accounts.”

The clean audits should help leverage advancing health projects in the region, he added.

“Our statements show we’re in a good financial position to move forward on some major capital projects in our area. Number one of which is the Cariboo Memorial Hospital expansion.”

When the CRD board met with Interior Health last month the board received a commitment from IH to move ahead with functional planning for the expansion.

“The next step then will be to make the business case,” Massier said.

“The functional planning will take some time, and hopefully we’ll get that done this year.”

Reid said the CCRHD debt will be extinguished in 2019. The current surplus at year end for the CRD budget was approximately $81.5 million, cash investments of $31 million, and net financial assets of approximately $20.2 million.

Reid noted reserves of approximately $12.1 million have been set aside for future capital expenditures.

“The CRD reduced its debt obligations by approximately $2.8 million in 2012 from $8.7 million to $5.9 million largely through early retirement of $2.2 million in debt associated with the recent construction of libraries in Quesnel and 100 Mile House.”

Reid has been with the CRD since the end of 2010.

“I took over responsibility for financial statements for 2011 and 2012 year ends,” he said.It was

On Friday, March 22, CRD staff and the board accepted the 2012 audited financial statements for the Cariboo Hospital Regional District and the Cariboo Chilcotin Regional Hospital District and the Cariboo Regional District.

Other than fleshing out notes in each audited statement, to “explain points further,” auditor Kane Fraser of PMT Chartered Accountants gave the CRD three clean audits.

Breaking down the three entities, Reid noted in the CRHD budget there was a current surplus at the December year-end of $1 million.

The CRHD will only remain in existence until the debt extinguishes in 2018, he explained.

For the CCRHD, the surplus at year end was approximately $22.1 million, there were cash investments of $23.7 million, funds that are available for capital expenditures with the region’s two health authorities.

Area C director John Massier, also chair of the hospital districts, told staff at the board meeting that he would like to receive the audit reports earlier so directors can read them prior to approving them at the board meeting.

However, he said the important points are always the auditor’s opinions.

“This is about as clean as a bill of health as you can get from an audited set of statements,” Massier said of the 2012 statements.

“I think we’re pleased as a board that the auditors have found no problems in our accounts.”

The clean audits should help leverage advancing health projects in the region, he added.

“Our statements show we’re in a good financial position to move forward on some major capital projects in our area. Number one of which is the Cariboo Memorial Hospital expansion.”

When the CRD board met with Interior Health last month the board received a commitment from IH to move ahead with functional planning for the expansion.

“The next step then will be to make the business case,” Massier said.

“The functional planning will take some time, and hopefully we’ll get that done this year.”

Reid said the CCRHD debt will be extinguished in 2019. The current surplus at year end for the CRD budget was approximately $81.5 million, cash investments of $31 million, and net financial assets of approximately $20.2 million.

Reid noted reserves of approximately $12.1 million have been set aside for future capital expenditures.

“The CRD reduced its debt obligations by approximately $2.8 million in 2012 from $8.7 million to $5.9 million largely through early retirement of $2.2 million in debt associated with the recent construction of libraries in Quesnel and 100 Mile House.”

Reid has been with the CRD since the end of 2010.

“I took over responsibility for financial statements for 2011 and 2012 year ends,” he said.

 

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