{"id":348834,"date":"2026-03-26T13:06:12","date_gmt":"2026-03-26T13:06:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/348834\/"},"modified":"2026-03-26T13:06:12","modified_gmt":"2026-03-26T13:06:12","slug":"hospital-board-to-draw-down-reserves-to-further-offset-borrowing-for-kamloops-cancer-centre","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/348834\/","title":{"rendered":"Hospital board to draw down reserves to further offset borrowing for Kamloops cancer centre"},"content":{"rendered":"

Taxation levied on properties across the THRD will cover the remaining $17.4 million of the hospital\u2019s district\u2019s share of the project\u2019s $386-million cost. A ground breaking was held in July last year<\/a>, and the cancer centre is expected to open its doors in 2028.<\/p>\n

\t\"\"\/<\/p>\n

Potts says this new funding plan \u2013 which is being presented at Thursday\u2019s (March 26) THRD meeting for approval<\/a> \u2013 was drawn up following a recommendation from the TNRD\u2019s auditors, who suggested that money in reserves be used to \u201coffset the relatively higher cost of borrowing.\u201d<\/p>\n

\u201cThe feedback that our auditors and I gave after a review of our financial statements was that we have a lot of money in reserves and its unlikely that our investments will beat out the cost of debt,\u201d Potts added. \u201cSo we made the decision to draw down our reserves a bit and put it towards the cancer care project to reduce the amount of borrowing we have to do even further.\u201d<\/p>\n

Potts also noted that a previously approved plan to increase hospital district taxes by five per cent a year until 2028 has been extended to 2030.<\/p>\n

\u201cWhat that allows us to do is on the cusp of the overall cancer care project ending in 2029, we\u2019ll be able to re-contribute to reserves in anticipation of large future capital projects such as Phase 3 of the Patient Care Tower,\u201d Potts said.<\/p>\n

\u201cIt would allow us to take a similar approach in the future where we draw down a little bit of the reserves and help offset the cost of that project.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Taxation levied on properties across the THRD will cover the remaining $17.4 million of the hospital\u2019s district\u2019s share…\n","protected":false},"author":2,"featured_media":348835,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[134,527,111,139,69],"class_list":["post-348834","post","type-post","status-publish","format-standard","has-post-thumbnail","category-healthcare","tag-health","tag-healthcare","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/348834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=348834"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/348834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/348835"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=348834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=348834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=348834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}