Agenda and supporting papers - Plymouth Hospitals NHS Trust
Agenda and supporting papers - Plymouth Hospitals NHS Trust
Agenda and supporting papers - Plymouth Hospitals NHS Trust
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Item 10<br />
DETAILED REPORT<br />
<strong>Trust</strong> Board 5 th July 2013<br />
Subject<br />
Prepared by<br />
Approved by<br />
Presented by<br />
Month 2 Financial Results<br />
Director of Finance<br />
Director of Finance<br />
Director of Finance<br />
1. Purpose<br />
1.1 The purpose of this paper is to provide the Board with a summary of the <strong>Trust</strong>’s<br />
financial performance to the end of May 2013 (Month 2).<br />
1.2 This report accompanies the detailed performance dashboard for May 2013 with the<br />
finance section included at D1 to D5.<br />
2. Background<br />
2.1 For 2013-14 the <strong>Trust</strong> has a planned deficit of £13m after assuming savings of £24m.<br />
2.2 The month 2 detailed financial results have been subject to review at the Finance <strong>and</strong><br />
Investment Committee meeting of the 26 th June 2013. Any issues from the Finance<br />
Committee review will be reported to the Board.<br />
3. Overall Position Month 2<br />
3.1 At the end of the second month of the new financial year, the <strong>Trust</strong>’s position is some<br />
£54k better than the £2.45 million planned deficit, at an actual position of £2.40<br />
million deficit. Overall, this represents a £254k underspend against operational<br />
budgets <strong>and</strong> a £200k under-delivery of cost improvement programme (CIP) targets.<br />
3.2 The overall position to date is shown against plan below: -