accountability agreement between the Credit valley Hospital( the trillium health partners) and major source of funds

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Expert Solution

Accountability Agreement means the accountability agreement, as that term is defined in LHSIA, in place between the LHIN and the MOHLTC during a Funding Year, currently referred to as the “Ministry-LHIN Accountability Agreement";
this agreement includes the Schedules, as amended from time to time;
Annual Balanced Operating Budget means that in each Funding Year of the term of this
Agreement, the total expenses of the Hospital are less than or equal to the total revenue, from
all sources, of the Hospital when using the consolidated corporate income statements (all fund types and sector codes). Total Hospital revenues exclude interdepartmental recoveries and facility-related deferred revenues, while total Hospital expenses exclude interdepartmental
expenses, facility-related amortization expenses and facility-related interest on long-term
liabilities.

Annual Funding. Subject to the terms of this Agreement, the LHIN will provide the Funding identified in Schedule A to the Hospital for the purpose of providing or ensuring the provision of the Hospital Services; and will deposit the Funding in equal installments, twice monthly, over the term of this Agreement, into an account designated by the Hospital provided that the account resides at a Canadian
financial institution and is in the name of the Hospital.

Hope this helps.all the best ?

Nightingale answered 4 days ago

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