Financials:
The Ottawa Hospital
Revenue distribution 2023-2024
$2,042M
(Budget $1,817M)
Explanations for revenue variance
Actual revenues higher than budgets due to unbudgeted revenues received during the year, including reimbursement for COVID-19 incremental costs, for new bedded capacity and volume funded activity not anticipated at the commencement of the fiscal year and due to recording of unearned revenues for volume-driven activity based on the Ministry of Health flexibility funding.
Expenditure distribution 2023–2024
$2,043M
(Budget $1,869M)
Explanations for expenditure variance
Actual expenses higher than budget mainly due to incremental COVID-19 expenses incurred, which were partially reimbursed by the Ministry of Health, expenses for new bedded capacity, and retroactive wage adjustments resulting from the repeal of Bill 124.
Risks impacting the hospital
Risks resulting from the permanent impacts of pandemic, supply chain issues, health care human resource shortages and impacts from the repeal of Bill 124.
The Ottawa Hospital Financial Statements, year ended March 31, 2024
Ottawa Hospital Research Institute
Revenue distribution 2023-2024
$148M
Expenditure distribution 2023–2024
$141M