Board chairman Graeme Milne said the redevelopment of the campus was at its peak with stage one of the $130 million Meade Clinical Centre under construction but the disruption had not affected the quality of care at the Waiora Waikato hospital campus in Hamilton.
"That we provided quality care in among the multiple challenges is a tribute to chief executive Craig Climo and his executive team who remained dedicated and focused," Mr Milne said.
"It is our job as a team to improve frontline services and to operate within the approved financial budget.
"We must continue to focus on improving productivity and get the best value for the health dollars New Zealand's taxpayers make available to us."
Waikato DHB's annual report to June 30, 2011, showed an operating surplus of $10.6 million on revenue of more than $1 billion an "excellent result", Mr Milne said.
"We need every dollar of these surpluses to fund the significant capital programme focused around Waikato Hospital."
He said the Meade Clinical Centre, was scheduled to open in less than 40 weeks.
Audit grades
Very good: no improvements necessary.
Good: improvements beneficial and recommended the DHB address these.
Needs improvement: improvements necessary and recommended the DHB address these at earliest reasonable opportunity.
Poor: major improvements required and recommended the DHB urgently address these.