ANNUAL REPORT - Northern Health

Note 25: Events Occurring after the Balance Sheet Date
Notes To and Forming Part of the Financial Statements
Northern Health Annual Report 2009/2010
Northern Health is not aware of any events occurring after reporting date that would have a material impact on the financial statements.
Note 26: Controlled Entities
Name of entity
Country of
incorporation
Equity Holding
Northern Health Research, Training and Equipment Foundation Ltd Australia Limited by Guarantee
Northern After Hours Clinic Ltd Australia Limited by Guarantee
Note - The Northern After Hours Clinic Ltd ceased trading effective 30 June 2009 and was deregistered with the Australian Securities & Investment Commission (ASIC) on 17 September 2009.
Note 27: Economic Dependency
The financial statements have been prepared on a going concern basis as at 30 June 2010. Northern Health has:
- A surplus from ordinary activities of $3.18 million for the year ended 30 June 2010 (deficit of $15.61 million for the year ended 30 June 2009).
- A working capital deficiency of $50.73 million as at 30 June 2010 ($49.04 million as at 30 June 2009).
Northern Health Management are committed to the continued review of its financial and operating performance with a view to identifying further cost saving initiatives and revenue generating
opportunities and providing the most effective and efficient service delivery model without compromising patient care and quality of service delivery.
An on-going budget strategy has been initiated by the Management of Northern Health which has identified a number of business initiatives to better manage the available financial resources. In
addition, the strategy adopted by Northern Health also includes assurances by the Department of Health to support the on-going operations and financial requirements of Northern Health and to provide
to Northern Health adequate cash flow support to enable Northern Health to meet its current and future obligations as and when they fall due for a period up to September 2011 should this be required.
Northern Health Financial Report Appendix to the 2009 - 2010 Annual Report
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