Agenda Item 7 Date: 30 November Rob Forster, Director of Finance & IM&T. Approve Adopt Receive for information

Transcription

1 Trust Board Agenda Item 7 Date: 30 November 20 Title of Report Finance Board Report Month 7 Purpose of the report and the key issues for consideration/decision To update Trust Board on the monthly financial performance and position of the Trust. Prepared by: Name & Title Presented by: Finance Team Rob Forster, Director of Finance & IM&T Action Required (please X) Strategic/Corporate Objective(s) supported by this paper Approve Adopt Receive for information To achieve an overall FRR4 x Is this on the Trust s risk register? No Yes x If Yes, Score 20 Which Standards apply to this report? CQC NHSLA BAF Objectives / Clinical and cost effectiveness n/a 1. Performance Have all implications related to this report been considered? Finance Revenue & Capital Equality & Diversity National Policy/Legislation Patient Experience NHS Contract Governance & Risk Management Human Resources Terms of Authorisation Consultation/Communication Human Rights Other: Carbon Reduction Previous Meetings Please insert the date the paper was presented next to the relevant group Meeting Point Audit Committee Gov & Risk Committee Finance & investment Committee Management Board NED Other

2 Wrightington, Wigan and Leigh NHS Foundation Trust Financial Board Report Month 07 October 20 Date of Issue: 14 th November 20 Robert Forster DIRECTOR OF FINANCE AND INFORMATICS

3 1 Contents 1 Contents Executive Summary Executive Summary - Part Run Rate Graphs Statement of Financial Position Cash Flow... 7

4 2 Executive Summary The Trust is reporting a 0.2m surplus in month 7 versus a planned surplus of 0.4m, an adverse variance of ( 0.2m) in month. The cumulative position at month 07 stands at a surplus position of 0.4m which is adverse to plan by ( 1.3m). Income continues to exceed plan year to date over performance is 3.4m. Operational expenditure is ahead of plan year to date by 5.0m. Trust financing charges are 0.3m better than plan cumulative as at month 07. Cash is 0.6m more than plan a result of the reduction in capital expenditure. The Trust s FRR is a 3 at month 07 which is in line with plan submitted to Monitor.

5 3 Executive Summary - Part 2 Key Headlines Activity is 2.7% above plan in Month 07; with the largest increase coming from outpatient work. Cumulative activity is ahead of plan by 0.2%; Income is marginally above plan in month by 37k; Divisional expenditure in month exceeds plan by 0.2m and is now 5.0m ahead of plan cumulative as at Month 07; The Trust is reporting a 0.2m surplus in Month 07 against a planned surplus of 0.4m; The cash balance at month 07 is 14.2m; Year to date FRR is 3.

6 Income Plan Actual/Forecast Divisional Expenditure 4 Run Rate Graphs EBITDA / Surplus Tracker ms 3,500 3,000 2,500 2,000 1,500 1, Apr- May- Jun- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- (500) (1,000) (1,500) (2,000) EBITDA Surplus Income and Divisional Expenditure Tracker ms 23,000 22,000 21,000 20,000 19,000 18,000 17,000 16,000 15,000 Apr- May- Jun- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- 4,000 CIP Tracker 3,500 3,000 2,500 2,000 1,500 1, Apr- May- Jun- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- 21,000 Cash & Capital run rate graph 4,000 18,000 15,000 3,000,000 9,000 2,000 6,000 3,000 1,000 0 Apr- May- Jun- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- 0 Month Cash Capital

7 5 Statement of Financial Position Opening Month 07 Forecast Plan '000 '000 '000 ' ,454 Non-current assets 150, , ,804 Current assets 3,298 Inventories 3,392 3,506 3,506 7,899 Trade and other receivables 9,813 8,876 7, Current assets held for sale ,260 Cash and cash equivalents 14,191 15,076 13,559 28,764 27,606 27,458 24, ,218 Total assets 177, , ,495 (18,817) Current liabilities (17,983) (19,590) (18,754) 9,947 Net current assets/(liabilities) 9,623 7,867 5, ,401 Total assets less current liabilities 159, , ,741 (1,070) Non-current liabilities (1,051) (1,052) (1,053) 158,331 Total assets employed 158, , ,688 Financed by: Taxpayers' equity 94,083 Public dividend capital 94,083 94,083 94,083 35,726 Revaluation reserve 35,668 35,6 35,6 1,760 Donated Asset Reserve 1,684 2,097 2,097 26,762 Retained Earnings 27,196 29,853 31, ,331 Total taxpayers' equity 158, , ,688 Key Headlines: Non-current assets includes additions of 5,092k from the Trusts capital programme and 8k from donated assets, ( 4,475k) depreciation/amortisation, a small loss on disposal of ( k) and an decrease of ( k) in non current receivables. Trade and other receivables have increased by 1,914k, of which prepayments have increased by 1,902k from the opening balance. Prepayments are made up of non-nhs prepayments, specifically maintenance, which unwind towards the financial year end. Current assets held for sale comprise of two residential properties, lodges 1 and 2 at Wrightington hospital, which are being actively marketed. Reduction in cash of 3.1m year to date is primarily due to, timing issues in respect of settling trade creditor, accruals and other movements in working balances. Increase in Retained Earnings reserve of 434k is in line with the Trusts Income and Expenditure performance YTD of 378k and 56k for transfer of residual Revaluation Reserve of catering equipment disposed in year

8 6 Cash Flow Month YTD Full Year var to var to Forecast var to Actual Plan Actual Plan Plan Act Act (7 + 5) Plan '000 '000 '000 '000 '000 '000 '000 '000 '000 Opening cash 13,948 15,202 (1,254) 17,260 17, ,260 17,260 0 Operating Activities: Operating surplus/(deficit) (160) 378 1,705 (1,327) 2,481 4,020 (1,539) Add: Non cash depreciation / financing 1,038 1,088 (50) 7,166 7,497 (331),949,949 0 Add: Impairments Changes in working capital (630) 641 (625) 169 (794) 1,508 1,983 (476) Interest received/(paid) Cash paid on capital expenditure (1,034) (2,500) 1,466 (7,551) (,622) 3,071 (14,204) (17,674) 3,470 Dividends paid (2,499) (2,499) 0 (4,973) (5,034) 61 Finance lease repayments (2) (1) (1) (16) (7) (9) () () 0 Closing cash 14,191 13, ,191 13, ,076 13,559 1,517 Key Headlines: October cash balance is 0.6m above plan. Operating surplus equates to the I&E performance. Working capital balances have fallen in the month due to payment of trade creditors and prepayments. Cash paid on capital expenditure is 1.5m under spent against plan in month 07.