Trust Board Febuary 2010 - Sandwell & West Birmingham Hospitals

SWBTB (2/10) 031 (a)
Financial Performance Report – January 2010
EXECUTIVE SUMMARY
• In the period 1 st April 2009 to 31st January 2010, the Trust delivered an overall I&E surplus of £2,119,000
which is £44,000 below the planned position. During the month of January, a net surplus of £258,000 was
generated exceeding the planned surplus by £27,000. This continues the steady progress made since July 2009
where each monthly budget position has gradually reduced the deficit built up in the first quarter.
• Fully coded and priced activity information is available for December and patient related SLA income
included within this report is based on this position.
• At month end, WTE’s (whole time equivalents) excluding the impact of agency staff were almost 112 below
plan. Total pay expenditure, including agency costs for the month was £336,000 above plan. Although the pay
position remains above plan owing to the costs of undertaking additional activity, it is an improvement on the
picture reported for the last few months. The pay position includes agency expenditure of £616,000 during
January which is an increase on the December position and is reflective of winter pressures.
• The month-end cash balance is approximately £1.8m above the revised cash profile.
• Performance continues to reflect higher than planned levels of activity and income with similar higher levels
of expenditure particularly on more variable costs such as bank and agency pay and medical consumables.
Financial Performance Indicators
Measure
Current
Period
Year to
Date
Thresholds
Green Amber Red
I&E Surplus Actual v Plan £000 27 -44 > Plan > = 99% of plan < 99% of plan
EBITDA Actual v Plan £000 34 16 > Plan > = 99% of plan < 99% of plan
Pay Actual v Plan £000 -336 -2,920 < Plan < 1% above plan > 1% above plan
Non Pay Actual v Plan £000 -452 -2,901 < Plan < 1% above plan > 1% above plan
WTEs Actual v Plan 112 70 < Plan < 1% above plan > 1% above plan
Cash (incl Investments) Actual v Plan £000 1,817 1,817 > = Plan > = 95% of plan < 95% of plan
CIP Actual v Plan £000 -8 -68 > 97½% of Plan > = 92½% of plan < 92½% of plan
Note: positive variances are favourable, negative variances unfavourable
Performance Against Key Financial Targets
Year to Date
Target Plan Actual
£000 £000
Income and Expenditure 2,163 2,119
Capital Resource Limit 9,754 7,776
External Financing Limit --- 15,331
Return on Assets Employed 3.50% 3.50%
2009/2010 Summary Income & Expenditure
Performance at January 2010
Annual CP CP CP YTD YTD YTD Forecast
Plan Plan Actual Variance Plan Actual Variance Outturn
£000's £000's £000's £000's £000's £000's £000's £000's
Income from Activities 332,103 27,928 28,910 982 276,999 282,814 5,815 339,358
Other Income 38,579 3,431 3,271 (160) 31,797 31,819 22 38,201
Operating Expenses (341,565) (28,892) (29,680) (788) (284,330) (290,151) (5,821) (349,085)
EBITDA 29,117 2,467 2,501 34 24,466 24,482 16 28,474
Interest Receivable 150 13 6 (7) 125 65 (60) 75
Depreciation & Amortisation (16,444) (1,370) (1,370) 0 (13,636) (13,636) 0 (16,444)
PDC Dividend (8,374) (698) (698) 0 (6,977) (6,977) 0 (7,656)
Interest Payable (2,180) (181) (181) 0 (1,815) (1,815) 0 (2,180)
Net Surplus/(Deficit) 2,269 231 258 27 2,163 2,119 (44) 2,269
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