Following on from a 2016-17 deficit of $21.8 million, in 2017-18 the SDHB recorded a $21.4 million deficit - a result far more than the budgeted $14 million.
That forecast was adjusted to $17 million in figures released by the Ministry of Health in July.
The SDHB has become a candidate for increased government deficit support funding announced in the May Budget.
''The Southern DHB is a big ship to turn around,'' chief executive Chris Fleming said in a statement.
''But we now have the strategic planks more firmly in place, and are seeing these bringing results in terms of reshaping the healthcare system.''
The SDHB has struggled to operate within budget and in 2105 the Government appointed commissioners to replace the elected board, after the SDHB recorded a $27.2 million deficit.
In Audit NZ's report, appended to the financial statements, it noted the board was reliant on the Crown to remain a going concern.
Despite the poor result, commissioner Kathy Grant was optimistic efforts to reset the board's direction were being rewarded.
''There is still considerable work ahead,'' she said.
''Strengthening primary and community care so care is more accessible and closer to home is an essential aspect of preparing for the new Dunedin Hospital.''
The main drivers of the deficit were outsourced clinical services, which were $9.2 million over budget, and an $8 million-over-budget spend on clinical supplies.
Employee entitlements were $5.9 million higher than budget, due to pay agreements such as settling the nurse's employment contract.
On the plus side, land and buildings were revalued in the past financial year and had increased in the accounts by $42 million, but that gain was reduced by a $20.1 million impairment to reflect the ongoing cost of asbestos contamination,
Personnel costs ($5.1 million) and medical costs ($5 million) were both favourable to budget, but partly because the SDHB was unable to fill some positions.
Mrs Grant said a highlight for the SDHB this year had been introducing its primary and community care strategy and action plan.
Other achievements included announcing the Dunedin Hospital rebuild, gaining consent for work on redeveloping Lakes District Hospital, opening a new gastroenterology unit at Dunedin Hospital and the launch of the national bowel screening programme in the Southern district.
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Comments
The commissioners were hired at vast (and continuing) expense to replace a board whose primary sin was an inability to get the budget under control.
As the commissioners are obviously failing to beat the boards performance there is no logical reason to delay board elections. This certainly can't wait until after the hospital rebuild.