Council of Governors Meeting Mike Stevens Director of Finance & Business Development 9th April 2008 Agenda Item 7 Relates to Domain 3 - Governance

Contents Current financial position 2007/8 Outlook for 2008/9 Capital scheme update

Current position 2007/8 Position to end of February 2008 I&E variance to budget £1.8m favourable Significant increase in patient activity Cash balance £37.0m Financial risk rating - 5

Current position 2007/8 Forecast outturn Forecast surplus £8.5m against plan of £6.5m Cash balance £31.1m against plan of £9.2m Forecast underspend of £4.3m on capital carried forward to next year Financial risk rating - 4

Outlook for 2008/9 Contracts with PCT’s all signed Increased resources to meet waiting time Accelerated 18 weeks by 30/6 15 weeks by 31/12 Increased activity counted Re-costed to ensure full recovery Arrangements to cover high cost work

Capital schemes update Phase 4 – complete and operational ICU expansion – complete and operational Endoscopy – complete and operational Linear Accelerator – building work complete, installing first LINAC, second LINAC delivered installing autumn 2008 Emergency hub – option appraisal underway, business case to Board May 08