Ms Kibble, alongside board member Helen Algar, presented the Waitaki District Council-controlled company's half-yearly report at the meeting of the full council on Tuesday.
It reported a deficit of $566,740 for the period, compared with the $163,017 posted in the six months to December 31, 2017.
Total revenue was $6.205million and of that, $5.282million came from the Southern District Health Board, the company's primary source of funding.
Total expenditure was $6.848million.
In his report, Waitaki District Health Services chairman Chris Swann said the increased expenditure compared with the previous year was a result of locum doctors being used, an issue that was being addressed as the hospital recruited more doctors.
Mr Swann said health board contracted revenue increased by $103,000 and it also reimbursed the company $90,000 in a one-off payment for costs associated with its clinically-led review undertaken in late 2017.
ACC revenue dropped by $77,000, which Ms Kibble said was a result of less demand in an area where revenue was not consistent.
''ACC is demand driven and our revenue fluctuates. Some of our ACC contracts have not been as busy as they are usually.''
When addressing councillors, Mrs Kibble said the company was forecasting a deficit of $1.2million to $1.3million for the 2018-19 financial year, which would eventually be offset by the company's current ''proposal for change''. This aimed to restructure staffing and change the layout of the hospital to improve efficiency.
''The proposal for change will achieve, one way or another, a positive cash flow.
However, before that would happen there would be costs associated with the improvement of clinical safety, investment in clinical equipment and the layout changes, which she said were expected to cost between $300,000 and $400,000.
She said the company was confident it would secure external sources of funding to fund the layout changes and had approached the Otago Community Trust, Waitaki District Health Services Trust and others.
When questioned by Cr Jim Hopkins about the company's financial position, Mrs Kibble said she was confident it could be turned around and that the company hoped to find other sources of revenue and ''reduce reliance'' on health board funding.
That included the possibility of renting out space it owns on hospital grounds and securing primary health-care funding.
''We need to work and find a way we can gain a primary care contract which will enable us to receive quite a bit of primary care funding and ACC care funding. If we had that, we could potentially get funding for those extra 4000 (emergency department) visits.''
The hospital was funded for 3000 annual visits, but had 7000 presentations last year.
It aimed to reduce its health board revenue percentage of 85% of total revenue to 75% in one to two years, she said.
