NHS Western Isles has balanced its books for the sixth year in succession, and is also set to repay its brokerage loan to the Scottish Government a year earlier than planned.
The organisation achieved a strong financial performance during 2012/13, in that it was able to pay back a total of £685,000 of its brokerage loan; £585,000 from savings during the year, plus a £100,000 surplus achieved at the end of the financial year. The Board had only been due to repay £85,000 in 2012/13 as a result of an early brokerage repayment the previous year.
As a consequence of additional repayments, the amount owed to the Scottish Government this year (2013/14) has reduced from £540,000 to £161,000. The early repayment of brokerage also means that the total brokerage loan will be repaid a year early (2016/17 instead of 2017/18).
Board Chair Neil Galbraith said: “The Board’s financial position this year is a tremendous accomplishment, which has been achieved through robust financial control and good management by budget holders. To be reporting such a strong financial position at the end of the year, for the sixth year in a row, is an excellent position to be in, particularly considering the financial pressures affecting the country at the current time.”
Chief Executive Gordon Jameson added: “This is a morale booster for us all as it demonstrates significant progress and should give us all confidence in the fact that our service delivery, monitoring and control systems are working effectively. Staff have worked extremely hard to protect and deliver an improved level of service to patients, whilst maintaining a strong financial position. We should all feel very proud of what has been achieved.”