ANNUAL ACCOUNTS 2009/10 - Birmingham Children's Hospital

Birmingham Children's Hospital NHS Foundation Trust - Statutory Accounts Year to 31 March 2010Note 18 Prudential borrowing limit 31 March 2010 31 March 2009£000 £000Total long term borrowing limit set by Monitor 39,000 32,800Working capital facility agreed by Monitor 11,400 11,400Total prudential borrowing limit 50,400 44,200The Trust has a Prudential Borrowing Limit of £50,400k in 2009/10 (£44,200k in 2008/09). The Trust has notutilised its Working Capital Facility in 2009/10 (£nil in 2008/09).The Trust is required to comply and remain within a Prudential Borrowing Limit. This is made up of two elements:- the maximum cumulative amount of long-term borrowing. This is set by reference to the five ratio tests set outin Monitor's Prudential Borrowing Code. The financial risk rating set under Monitor's Compliance Frameworkdetermines one of the ratios and therefore can impact on the long term borrowing limit.- the amount of any working capital facility approved by Monitor.The on SoFP PFI is taken into account in the calculation of the Trust's Prudential Borrowing.Further information on the NHS Foundation Trust Prudential Borrowing Code and Compliance Framework canbe found on the website of Monitor, the Independent Regulator of NHS Foundation Trusts.The following table shows the actual ratio values against the approved ratios in the current and prior periods:Financial RatioActual ratios2009/10Approved PBLratios 2009/10 (1)Actual ratios2008/09Approved PBLratios 2008/09Minimum Dividend Cover 9.7x 5.0x 6.4x 3.5xMinimum Interest Cover 66.6x 36.1x - -Minimum Debt Service Cover - - - -Minimum Debt Service to Revenue 0.0% 0.0% 0.0% 0.0%Note 1 - the Approved PBL ratios are those approved in the Trust's Annual Plan.Note 19 Finance lease obligationsThe Trust has no finance lease obligations arising in either the current or previous accounting period.Note 20 The Trust is committed to make the following payments for on-SoFP PFIs obligations during the next year inwhich the commitment expires:31 March 2010 31 March 2010Total PFI 1£000 £000Within one year 648 6482nd to 5th years (inclusive) 2,489 2,4896th to 10th years (inclusive) 2,723 2,72311th to 15th years (inclusive) 1,259 1,259The current on-SoFP PFI obligations are due to expire on 31st March 2023.Page 34