January 2012 - Sandwell & West Birmingham Hospitals

SWBTB (1/12) 267 (a)
Financial Performance Report – December 2011
EXECUTIVE SUMMARY
• For the month of December 2011, the Trust delivered a “bottom line” surplus of £180,000 compared to a
planned surplus of £167,000 (as measured against the DoH performance target).
• For the year to date, the Trust has a surplus of £771,000 compared with a planned surplus of £760,000 so
generating an positive variance from plan of £11,000.
•At month end, WTEs (whole time equivalents), excluding the impact of agency staff, were approximately 239
below plan. After taking into account the impact of agency staff, actual wte numbers are 160 below planned
levels. This compares with a position last month of 80 below plan. Total pay expenditure for the month,
inclusive of agency costs, is £698,000 below the planned level.
• The month-end cash balance was approximately £25.1m above the planned level.
Financial Performance Indicators - Variances
Measure
Current
Period
Year to
Date
Thresholds
Green Amber Red
I&E Surplus Actual v Plan £000 13 11 >= Plan > = 99% of plan < 99% of plan
EBITDA Actual v Plan £000 (28) (334) >= Plan > = 99% of plan < 99% of plan
Pay Actual v Plan £000 698 1,444 1% above plan
Non Pay Actual v Plan £000 (567) (1,900) 1% above plan
WTEs Actual v Plan 160 52 1% above plan
Cash (incl Investments) Actual v Plan £000 25,099 25,099 >= Plan > = 95% of plan < 95% of plan
Performance Against Key Financial Targets
Year to Date
Target Plan Actual
£000 £000
Income and Expenditure 760 771
Capital Resource Limit 16,346 4,260
External Financing Limit --- 25,099
Return on Assets Employed 3.50% 3.50%
Note: positive variances are favourable, negative variances unfavourable
2011/2012 Summary Income & Expenditure
Performance at December 2011
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 374,874 31,143 30,919 (224) 281,245 280,636 (609) 373,182
Other Income 40,352 3,248 3,313 65 29,054 29,785 731 40,651
Operating Expenses (391,660) (32,410) (32,279) 131 (293,221) (293,677) (456) (390,725)
EBITDA 23,566 1,981 1,953 (28) 17,078 16,744 (334) 23,108
Interest Receivable 25 2 11 9 19 82 63 104
Depreciation & Amortisation (13,269) (1,106) (1,074) 32 (9,952) (9,670) 282 (12,889)
PDC Dividend (5,803) (484) (484) 0 (4,352) (4,352) 0 (5,803)
Interest Payable (2,156) (180) (180) 0 (1,617) (1,617) 0 (2,156)
Net Surplus/(Deficit) 2,363 213 226 13 1,176 1,187 11 2,364
IFRS/Impairment Related Adjustments (557) (46) (46) 0 (416) (416) 0 (557)
SURPLUS/(DEFICIT) FOR DOH TARGET 1,806 167 180 13 760 771 11 1,807
The Trust's financial performance is monitored against the DoH target shown in the bottom line of the above table. IFRS and impairment adjustments are technical,
non cash related items which are discounted when assessing performance against this target.
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