Brockville General Hospital paid $214,429 in interest on a bank operating facility during the fiscal year ended March 31, 2025, according to the hospital’s audited financial statements. The figures were reviewed in public documents and reported in coverage that rose on social media on February 9, 2026.
The hospital’s audited statements show interest expense of $214,429 for 2024–25, up from $196,745 the previous year. The notes to the financial statements state the hospital has an operating facility (up to $10 million) and that “interest paid on this facility during 2025 amounted to $214,429 (2024 – $196,745).” The same notes show the bank indebtedness balance was $Nil at March 31, 2025, indicating interest was paid during the year even though no balance remained at year end.
An analysis by the Investigative Journalism Bureau found widespread use of bank borrowing across Ontario hospitals; it reported that 77 of 129 hospital corporations had not balanced their books by March 31, 2025 (about 60%). The Financial Accountability Office of Ontario has also warned of a health‑sector funding shortfall in its 2025 review. Together, those findings have been cited in coverage explaining why some hospitals are turning to private credit lines to manage cash flow while waiting for provincial funding or other revenues.
Although Brockville General reported a year‑end balanced budget, critics and health economists say interest payments divert funds from patient care. As Alex Hoagland, a health economist who reviewed the IJB findings, said in coverage: “No taxpayer wants to say I put this dollar in the health‑care bucket and it ended up in the CEO of some financial institution’s pocket.”
The hospital’s website and local reporting confirm the organization reported an eighth consecutive year‑end balanced budget for 2024–25 while continuing capital investments and service changes. Names and titles verified: Julie Caffin is President and Chief Executive Officer of Brockville General Hospital; Anthony Dale is President and Chief Executive Officer of the Ontario Hospital Association.
