PART A AGENDA ITEM 11 - The Princess Alexandra Hospital | NHS ...

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Trust Board Meeting – 28 th April 2011PART AAGENDA ITEM 13Financial Performance Report 2010/11
THE PRINCESS ALEXANDRA HOSPITAL NHS TRUSTTRUST BOARD 28 th April 2011Issue: MONTH 12 FINANCE REPORTStatus:FOR INFORMATION1. Introduction:This paper provides Board members with the Trust financial performance report tothe end of March 2011.2. ReportI am pleased to report that the Trust met all its financial duties in 2010/11:break-evenmanage within its external funding limitmeet its capital resource limitachieve a capital cost absorption rate of 3.5%The Trust is reporting a £652k surplus position for March which leaves a final year todate surplus of £415k. The details can be seen in Appendix 1.Income increased in the month from February, primarily as a result of other incomerising as final invoices were raised for services provided in the year, such as drugrecharges (£221k). Income from other PCTs also rose by £100k in the month.This was offset by an increase in expenditure of £510k for the month, in comparisonto February (Appendix 2). Overall pay expenditure increased by £441k from Februaryto March. This was mainly due to the one off cost of the CEA awards of £390k. Themonthly bill is still £251k (249%), lower than the average monthly pay bill in the firsthalf of the year with the greatest improvement (£94k) in Scientific & Therapeutic staff.Temporary staff remains a focus for reducing costs. The agency pay bill represents2.69% of the total pay bill in March, a reduction from a high of 8.1% earlier in theyear. Non-pay costs also increased by £69k from February to March, the majority ofthis relating to a £420k adverse adjustment due to lower stock levels, this been offsetby a one off adjustment of £300k for the reduction in the annual leave accrual.The rolling star chamber meetings with budget holders to stimulate and monitorsavings plans continue. The progress to date in identifying and progressing savingsplans is set out in the following table:Gateway Analysis M12 M11 M10Idea - not costed in any detail (0) 683 683 672Costed plan exists, but not actioned (1) 848 848 1,306In progress (2) 289 574 457Budgets adjusted (3) 5,204 2,244 1,863Total 7,024 4,349 4,298The Gateway analysis now includes the impact of the reduction in bank and agencycharges in the year (£2.6mn), since these have been included in the 2011-12budgets.
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PART A AGENDA ITEM 11 - The Princess Alexandra Hospital | NHS ...

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