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Clutha Health First's annual financial report reveals surpluses, but they are less than those for the previous financial year.
Clutha Health First is run by two parent companies which reported surpluses. Clutha Health Inc, which owns and manages the hospital buildings in Balclutha, reported an operating surplus of $284,759 for the year ending June 30, 2011, down slightly on the previous year's surplus of $288,363.
The hospital operator, Clutha Community Health Company Ltd, banked an operating surplus of $12,650, down from a surplus of $264,565 last year.
Community Health chairman Brian Dodds said the small surplus was "satisfactory" given the company had faced some "one-off" costs, including requirements for locum GPs and medical officers for part of the year and reductions in income from ACC contracts.
From July 1 last year, Balclutha General Practitioners Ltd was amalgamated into Clutha Community Health Company Ltd to encourage better integration.
Clutha Health First bought the GP practice in January 2008.
The Clutha hospital serves 17,000, with patients coming from as far away as Lawrence, Tuapeka and Tapanui.
Clutha Health First chief executive Ray Anton said the hospital was positioning itself as a sustainable health service for its community.
Mr Anton said the hospital's $2.6 million upgrade was largely funded by reserves built up over the years and is expected to be completed by May 2013.
Clutha Health Incorporated's annual meeting is at Rosebank Lodge at 7.30pm today.