The unaudited 2011-12 financial result is now a $12.7 million deficit, down from the $15 million to $15.5 million board members were advised of earlier this month.
Through her spokesman, chief executive Carole Heatly said the better figure was arrived at after revaluing outstanding annual leave, revaluing future liabilities, a year-end "sweep up" of inter-district flows and an annual stocktake and valuation process.
Inter-district flows are payments made between DHBs for services rendered.
"The previous figure was based on a worst case scenario and we are delighted to have come in well under this. However, the current deficit is still unacceptably high and we are working to ensure that this does not happen again," Ms Heatly said.
Asked to clarify why the figure changed so much, the spokesman said the same accounting methods were used, but the percentage used in the original calculations was for the worst case scenario. After discussion with the National Health Board and Treasury, they were revised.
On Wednesday, a Southern DHB delegation travelled to Wellington to meet Health Minister Tony Ryall and discuss the financial result.
Chairman Joe Butterfield said this was nothing unusual, although it reflected additional oversight the board had due to its financial position.
The delegation consisted of Mr Ryall's appointees: Mr Butterfield and his deputy chairman, Paul Menzies; Tahu Potiki, Sandra Cook, Tim Ward, Crown monitor Stuart McLauchlan and chief executive Ms Heatly.
Asked if the travel cost was warranted, Mr Butterfield said he did not think that the question was "sensible", since occasional travel was part of normal governance.
Mr Ryall wanted to know what the DHB was doing about its deficit, and the meeting seemed to go well, Mr Butterfield said.
"I was comfortable with the meeting," he said.
He said he was still disappointed with the result, because for much of the year he hoped the DHB would finish better than the forecast $10.17 million deficit.
"No deficit is reasonable."
