Shaw Trust / CDG Merger Plan Support P Financing outcome funded contracts Preparing for Steps 2 Success 24 April 2013.

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Presentation transcript:

Shaw Trust / CDG Merger Plan Support P Financing outcome funded contracts Preparing for Steps 2 Success 24 April 2013

2 Seminar objectives © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. Develop an understanding of: Why financial modelling is so important for PbR contracts (such as Steps 2 Success) What the key features of an effective financial model are How the financial model should be used on an ongoing basis to drive performance

3 Background... © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. About PublicCo Established in 2011 as a joint venture between Chris Melvin the Centre for Economic and Social Inclusion. Our experience Work with providers across the Welfare to Work, and Skills sectors to support the delivery of payment by results contracts Key areas of support are: Bid support Building and developing financial models to support bid opportunities Performance improvement Turning around performance and maximising outcomes from payment by results contracts

4 Why is financial modelling so important © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. FlexibilityDrives performanceEfficiencyManages costs PbR enables: InnovationMinimises risk Financial modelling: Financial modelling allows providers to minimise risk and also understand performance

5 Why is financial modelling so important © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. Financial modelling Support investment Assess risk Validate business case Drive performance

6 What does a good financial model look like © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. Financial model will have four key features 1 – Flows 2 – Income 3 – Performance 4 – Costs.

7 Key features - Flows © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. Ensure you know what you are delivering and the likely market share Be clear on the likely number of individuals referred to the Steps 2 Success programme – this is based on the contract package Key considerations Total number of customers Contract size Rate of attachments

8 Key features - Flows © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. Example reporting – ‘Flows’ tab Forecast flows Estimate market share to simulate size of contract Revise by year and by group to simulate changes to flows Outturn is participant flows for the contract

9 Key features - Income © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. Be clear on the pricing Model the timing and size of different payments Key considerations Pricing of different groups Distribution/split of payments Cashflow of payments

10 Key features – Performance © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. Forecast realistic performance Run sensitivities where appropriate Key considerations Identify existing benchmarks Identify sustainment Be clear on how performance will be increased

11 Key features – Costs © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. Develop and establish a robust exercise Identify start up costs, fixed and variable costs Key considerations Start up costs Cashflow timings Changes in costs over the duration of the contract

12 Sensitivity © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED.

13 Principles © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. Focus on the outcomes (what triggers revenue) Be realistic Validate Ensures a no surprises approach – clear about the investment / finance required.

14 Contact © 2013 PublicCo Limited. All rights reserved. This document is CONFIDENTIAL and its circulation and use are RESTRICTED. Joel Featherman Director PublicCo Telephone – –