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Council of Governors Meeting

Council of Governors Meeting. Mike Stevens Director of Finance & Business Development. 16 th January 2008 (Agenda item 6). Contents. Current financial position 2007/8 Outlook for 2008/9 Strategic investment fund Capital scheme update. Current position 2007/8.

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Council of Governors Meeting

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  1. Council of Governors Meeting Mike Stevens Director of Finance & Business Development 16th January 2008 (Agenda item 6)

  2. Contents • Current financial position 2007/8 • Outlook for 2008/9 • Strategic investment fund • Capital scheme update

  3. Current position 2007/8 • Position to end of November 2007 • I&E variance to budget £0.2m adverse • CRES achieved 59% of brought forward target and 23% of new year target • Cash balance £37.0m • Financial risk rating - 5

  4. Current position 2007/8 • Forecast outturn • Forecast surplus £7.3m against plan of £6.5m • Cash balance £17.9m against plan of £9.2m • Forecast underspend on capital carried forward to next year • Financial risk rating - 4

  5. Outlook for 2008/9 • Operating framework for 2008/9 • Tariff prices published • PBR rules • New model contract

  6. Operating Framework 2008/9 • Service priorities • Improving cleanliness and reducing HCAI • Improving access by meeting 18 week RTT target and improving access to GP’s • Keeping adults and children well • Improving patient experience, staff satisfaction and engagement • Preparing to respond in a state of emergency

  7. Operating Framework 2008/9 • Enabling Strategies • Choice, information and personalisation • World class commissioning • Practice based commissioning • Specialised services commissioning • National contract • Military personnel • System management • Provider development • Leadership and workforce • Information

  8. Tariff and PBR for 2008/9 • Tariff updated to use 2005/6 activity/cost • No major changes re inclusion/exclusion • No major impact on RD&E • Changes to specialist services top-up • Loss to RD&E of up to £1m • Prices uplifted by 2.3% net of a 3% cash releasing efficiency savings

  9. National Model Contract • A development on interim 2007 model • Key issues • Penalty regime • Information delivery • Activity constraints • No impact on RD&E for 2008/9

  10. Strategic Investment Fund • Implementation well in hand • 600+ new beds being delivered • New ‘discrete’ theatre gowns • Patient chairs on wards, outpatients etc • Productive ward • Concourse development

  11. Capital schemes update • Phase 4 – complete and operational • ICU expansion – complete and operational • Endoscopy – building work complete, installation of washer complete • Linear Accelerator – building work complete spring 08, install first LINAC, install second LINAC autumn 2008 • Emergency hub – option appraisal underway, business case to Board Feb/Mar 08

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