Windsor Regional Bearing An Accumulated Deficit of $64-million
Windsor Regional Hospital is dealing with an accumulated deficit of $64-million.
It's a number that represents the level of underfunding since the realignment of services with Hotel Dieu Grace Hospital.
Hospital Treasurer Leanne Leech says the number includes this year's shortfall.
Hospital Chief Financial Officer Mark Fathers says they're working with the LHIN to analyze the financial need.
"We're actually now in a borrowing position. That was one of the reasons for the Optimization Review, we're trying to right-size our budget" explains Fathers, "Especially reflecting the fact that following the realignment took place five years ago this October, are we being appropriately funded"
Fathers says the current year funding from the spring budget still left them behind.
"Which is resulting in a deficit of just over $8-million. So this optimization review we've asked for hopefully they will address the deficit for 18-19 but also gives us retroactivity to help offset the deficits from realignment"
Fathers makes it clear that the hospital is not borrowing from a financial institute, but is getting cash advances from the Ministry of Health for now.
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