1. Financial Performance 2013/14
Robert Mackie, Director of Finance

2. Achievement of Financial Statutory Duties
Target
Achievement
Explanation
Breakeven
The Trust achieved an overall year end surplus of £2.9m an additional £0.6m above plan
Remain within the Capital Resource Limit
The Trust underspent its capital resource limit by £1k
Remain within the External Financial Limit
The Trust remained within its cash allowance for the financial year
Capital Cost Absorption rate (3.5%)
The Trust achieved 3.5% against the capital cost absorption rate
Pay 95% of valid invoices within 30 days of receipt
BPPC compliance rate of 99% for 2013/14

3. Total Income £172.3m The main categories:
Patient related income £165.7m
Non-patient care services to other bodies £1.5m
Education and Training £3.4m
Other miscellaneous income £1.7m

4. Total expenditure £172.1m Main components:
Salaries & wages £129.4m (75.1%)
Clinical supplies & services £17.4m (10.1%)
Other non pay costs* £19.0m (11.1%)
Capital Charges £3.6m (2.1%)
Fixed asset impairment £2.7m (1.6%)
* includes services from other NHS and Non-NHS bodies, heat, light, cleaning & transport.

5. Non Statutory Achievements
Trust Cost Improvement Programme
Full recurrent delivery of the £7.7m plan
£15.7m of recurrent savings during the last 2 years
£5.6m Investment in the Capital Programme
£1.3m on Estate Strategy Implementation
£1.2m on New Haven (opened July 2013)
£1.1m Refurbishments & Care Environments
£1.1m Backlog Maintenance
£0.9m IT & Equipment Replacement

6. External Audit Opinion
Unqualified audit opinion on financial statements
No significant weaknesses in internal control
Proper arrangements in place to secure Value For Money (VFM)
Challenging how the organisation secures economy, efficiency and effectiveness
Securing financial resilience