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Horizon maintains balanced budget

(MIRAMICHI) June 21, 2012 - Horizon Health Network held its Annual General Meeting on June 21, 2012 in Miramichi. The annual report for fiscal year 2011-2012 was presented at the meeting, and the newly elected board members were sworn in.

For the fourth year in a row, Horizon Health Network ended its fiscal year in an essentially balanced position on regular operations. The current year resulted in an approximate $7.7 million dollar surplus on revenues of $1.14 billon. This surplus represents less than one per cent of total revenues.

"Horizon Health Network has essentially balanced its operational budget since its inception," said Donald J. Peters, President and CEO, Horizon Health Network. "In planning our budget, a number of decisions were made by the organization to ensure it met a balanced position for the year, and was in a position to establish foundational change for future fiscal years."

Horizon Health Network's continued review of processes and procedures across the region resulted in savings. Process improvement will continue to be a priority for the organization. 

"We owe a great amount of appreciation to our staff, physicians and Board of Directors who have all contributed to our overall financial success," said Peters. "Providing leadership for a large, new and complex organization such as Horizon Health Network requires great dedication, experience and ability, and our outgoing Board members have shown they possess these qualities."

Eight newly elected Board members were sworn in at the Annual General Meeting and join the Board Chair, W.David Ferguson. An additional six Board members will be appointed by the Department of Health. The elected board members include Linda Aitken, Upper Kingsclear; Kathleen McMullen, Sackville; Jo-Ann Fellows, Fredericton; Linda G. Forestell, Saint John; Jane Mitton-MacLean, Moncton; Mike Coster, Miramichi; Mary Schryer, Quispamsis; and John McKay, Miramichi.

"I would like to congratulate and welcome the new Board members to Horizon Health Network. As we move forward, it will remain important as always to strive for innovation and quality in everything we do," saidFerguson. "I am confident the new Board members will support Horizon Health Network as it continues to shape health-care delivery to meet the needs of its patients."

The Annual Report for Horizon Health Network is available online at




For more information contact:
Lisa Caissie
Manager, Media Relations


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