ORMC MCC Business Plan ORMC_MCC_Business_Plan_032319 | Page 6

FINANCIAL STRATEGY
2-Year Results
In 2017, a partnership of six municipalities from the Onoway region signed a Pre-Incorporation Agreement to assume
control of the Onoway Medical Clinic to establish a business case for the clinic to successfully operate without subsidy
from regional municipalities. The results from the two-year trial are below.
ORMC 2-Year Results (2017-2018)
UPDATED: MAR-19
2017 Actuals
2017 Budget
2018 Actuals
2018 Budget
Physician Overhead $ 146,800.00 $ 132,000.00 $ 194,200.00 $ 176,000.00
Toal Revenue $ 146,800.00 $ 132,000.00 $ 194,200.00 $ 176,000.00
Wages & Benefits $ 91,100.00 $ 94,000.00 $ 94,800.00 $ 95,000.00
Facility Lease $ 16,900.00 $ 22,000.00 $ 18,000.00 $ 17,000.00
Software & IT $ 22,200.00 $ 19,500.00 $ 17,700.00 $ 22,500.00
Contracted Services $ 1,100.00 $ $ 18,300.00 $ 16,500.00
Materials & Supplies $ 10,300.00 $ 39,500.00 $ 13,700.00 $ 10,500.00
Advertising $ 9,200.00 $ - $ 4,400.00 $ 6,000.00
Utilities $ 8,300.00 $ - $ 9,800.00 $ 8,500.00
Initial Clinic Investment $ 48,800.00 $ - $ -
Mold Abatement Costs $ 3,100.00 $ $ 9,100.00 $ -
Total Expenses $ 211,000.00 $ 225,000.00 $ 185,800.00 $ Net Income (Deficit) $ (64,200.00) $ (93,000.00) $ 8,400.00 $ -
Opening Reserve Balance $ 135,000.00 $ $ 70,800.00 $ -
Net Income (Deficit) $ (64,200.00) $ (93,000.00) $ 8,400.00 $ -
Closing Reserve Balance $ 70,800.00 $ $ 79,200.00 $
Municipally Controlled Corporation Business Plan
-
50,000.00 $
-
-
176,000.00
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