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HULL AND EAST YORKSHIRE HOSPITALS TRUST

HULL AND EAST YORKSHIRE HOSPITALS TRUST. ANNUAL GENERAL MEETING SEPTEMBER 2014 ANNUAL ACCOUNTS 2013/14 Lee Bond Chief Financial Officer. FINANCIAL PERFORMANCE REVIEW 2013/14. The Trust achieved all of its financial duties in 2013/14.

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HULL AND EAST YORKSHIRE HOSPITALS TRUST

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  1. HULL AND EAST YORKSHIRE HOSPITALS TRUST ANNUAL GENERAL MEETING SEPTEMBER 2014 ANNUAL ACCOUNTS 2013/14 Lee Bond Chief Financial Officer

  2. FINANCIAL PERFORMANCE REVIEW 2013/14 The Trust achieved all of its financial duties in 2013/14

  3. BREAK EVEN DUTY As an NHS Trust we are required to at least break even. For the eighth successive year we achieved an operating surplus. The £40M we have generated over the last 8 years has been used to repay loans and invest in our property, plant and equipment. We generate surpluses so that we can ensure a sound financial basis for the future particularly recognising the challenging economic environment.

  4. HOW DO WE SPEND OUR MONEY Our expenditure in 2013/14 was £489M (excluding impairments), which can be summarised as: This year the cost of salaries and wages increased by £1M to £295M.

  5. FINANCIAL FACTS YOU DIDN’T KNOW …………… LINEN AND LAUNDRY: WE USE 1,269,000 SHEETS A YEAR - £431,460 WE SOLD 624,000 HOT DRINKS (RETAIL) - £599,040 EIGHT TONNES OF FRESH TOMATOES £14,000 50,000 LOAVES OF BREAD – AROUND 948,000 SLICES £40,500 WE BOUGHT 15,000 CUCUMBERS £9,300

  6. Investment in Infrastructure We invested £27.7M in property, plant and equipment

  7. THE FINANCIAL FUTURE • We expect demand for NHS services will continue to increase, but funding growth will be limited. • The “Tariff” (price paid by Commissioners) fell by 1.5% in 2014/15 • We expect future years to be similar. • Better Care Fund looking to move minimum 3.5% of our non elective care. • National efficiency requirement of between 3% & 5% The Trust will need to improve efficiency and productivity to deliver services within the funding available.

  8. THE FINANCIAL FUTURE • We will need to make changes in the way services are provided. • Clinical Commissioning Groups are looking for services to be provided more locally, • NHS England are looking to rationalise specialist provision into fewer, larger centres. • Our financial plans reflect our desire to provide services locally that are safe, high quality and which meet the requirements identified by the Care Quality Commission. These will include: • Improvements to our Emergency Department, to our patient record and IT systems, and to our surgical services • Rationalising elective and non-elective services between the Castle Hill and Hull Royal sites respectively, and • Replacing essential medical and surgical equipment

  9. IN SUMMARY • We’ve continued to deliver within the financial constraints we face • Sound financial management has helped us grow and develop our services • The impact of the economic environment will continue to set significant challenges for the NHS over the next few years. • We will need to work collaboratively with commissioning and provider colleagues if we are to successfully meet the challenges faced.

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