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FINANCE & PERFORMANCE STRATEGY 2008/09 - 2013/2014

FINANCE & PERFORMANCE STRATEGY 2008/09 - 2013/2014. Original Strategy 2005/06 - 2015/16. Background - 2005/06 Trust Faced with Challenging Issues Underlying Deficit £4.1m Non-Recurrent Income Withdrawn 2007/2008 Increasing CRES Targets High Cost Cross Subsidisation from High Secure

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FINANCE & PERFORMANCE STRATEGY 2008/09 - 2013/2014

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  1. FINANCE & PERFORMANCESTRATEGY2008/09 - 2013/2014

  2. Original Strategy 2005/06 - 2015/16 • Background - 2005/06 • Trust Faced with Challenging Issues • Underlying Deficit £4.1m • Non-Recurrent Income Withdrawn 2007/2008 • Increasing CRES Targets • High Cost • Cross Subsidisation from High Secure • OBC • Investment in MH Below National Average Levels • Absence of any Contingent Resources • Weak Balance Sheet • Poor Data Quality and DataCapture • Absence of Trust-wide Performance Assurance Framework • Silo Reporting

  3. Original Strategy • Key ComponentsAchieved • Recurrent Financial Balance • Achieve Recurrent Financial Balance  • Avoid Reliance on Non-Rec Resources  • No Developments Without Source of Funding  • Underlying Deficit Addressed as Priority  • Cash Management Strategy/Improved Liquidity  • Cost Efficient Services • Reduce Costs to Most Efficient Level х • Deliver Real Efficiency Gains  • Budget Reporting Include Financial and Activity Data 

  4. Original Strategy • Key ComponentsAchieved • 3 Cross Subsidisation Avoidance • Address High Secure Cross Subsidy  • From 2006/07 all Directorates Treated in progress • as Business Units • 4 Service Developments • Short Term – No New Developments Without a Source  • of Funding • New Developments - Longer Term - ? • Increases in Productivity

  5. Current Position • Strengths • Recurrent Financial Balance • Contingent Resources • Strong Financial Management Across Trust/CBU Development • Improving Data Capture and Quality • OBC Progress • Commissioner Confidence Increasing • Challenges • High Cost - PbR • Continued CRES Targets • OBC impact on Unit Cost • F.T. Status/High Secure Stability • Absence of Tariff for MH/SLA • Further Improvements in Performance Required • Delays to Capital Programme • Significant Reliance on Aggressive CRES • Integration of Activity, Workforce, Estates & Finance information

  6. Finance & PerformanceStrategy2008/09 - 2013/14 • 1 Maintain Long Term Financial Stability • Recurrent Financial Balance • Generate a £2m Surplus in 2008/09 • Developments only approved with source of funding • Avoid Unplanned Cross-Subsidisation • Ensure Strong Liquidity

  7. Finance & Performance Strategy2008/09 - 2013/14 • Improved Productivity and Efficiency • Reduce Reference Costs in Local Services • from 113.1 to ≤ 100 - Saving £10.4m • Reduce Reference Costs in High Secure Services • from 113.3 to 105 - Saving £4.2m • Reinvest Local Services Savings in new Services – Generate • Increased Productivity and improve efficiency • Return High Secure Savings to Commissioners – reduce reference costs • Implement SLR and CBU across the Trust • Improve Data Quality/Capture

  8. Finance & Performance Strategy2008/09 - 2013/14 • 3 Resource Service Strategy • Ensure Key Service Developments Resourced Appropriately • Ensure National and Local Targets Delivered • Deliver Bed Retraction to Deliver Required Savings • Identify New Commissioners and New Markets

  9. Finance & Performance Strategy2008/09 - 2013/14 • PLANS • 1 Financial Stability • CRES at National Levels for whole Trust as a Minimum • Contingency Resources increased by £0.5m in 2008/09 • Budget Overspends to be Addressed Immediately • Budget Underspends Continue to be Managed Over Year End and Proportion Repaid from NOMs money • Business Test Service Strategy to Ensure Affordability and Efficiency • Improved Liquidity position • Achieve 95% PSPP Year End 2008/9

  10. Finance & Performance Strategy2008/09 - 2013/14 • PLANS • Improved Productivity • Service Reference Costs Reported to Board • Benchmark Reference Costs with Similar Providers • Differential CRES set to Achieve Strategy Targets • Review Asset Base to Reduce Number of Sites and Costs • Review Workforce to Ensure Optimum Levels and Appropriate Skillmix • Impact of OBC and Service Strategy Upon Service Reference Costs to be Calculated • Longer Term Plan to Absorb OBC and Service Development Costs • SLR to be Rolled Out Across Trust by end of 2008/09 • Improvements in Data Quality and Data Capture • Procure Data Warehouse/MIS Year End 2007/08 • CBU Roll Out by 2009/10

  11. Finance & Performance Strategy2008/09 - 2013/14 • PLANS • 3 Improved Performance • Improved Strategic Objectives • Clarify Targets • More Robust Performance Monitoring Arrangements • Implementation/Monitoring Action Plans • Integrated Reporting, Finance, Workforce, Activity, Governance, Risk

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