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Agenda and supporting papers - Plymouth Hospitals NHS Trust

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Item 10<br />

recurring Directorate CIPs have been removed from the position reported at Month 1.<br />

At present, £23.1m of the plans are for recurring schemes, with a full year effect of<br />

£26.8million.<br />

5.2 The risk assessed value of schemes is currently £19.7million set out in the graph<br />

below. The risk assessed value is £4.3million below the target. Further work is<br />

underway with the Programme Management Office to assess progress with delivery<br />

of schemes <strong>and</strong> to review forecasts of delivery at a more detailed level <strong>and</strong> this work<br />

will be completed following the month 3 financial close.<br />

5.3 The Board will note from the above that there remains significant risk in delivering a<br />

£24m savings programme <strong>and</strong> actions on-going include: -<br />

5.3.1 Implementation of new financial controls guidance. A new ‘Financial Controls<br />

Guidance’ document has been issued to all budget holders, giving detailed practical<br />

guidance on the implementation of effective financial controls on recruitment,<br />

discretionary pay <strong>and</strong> non-pay expenditure across the organisation.<br />

5.3.2 Establishment of an Executive Review Panel which meets weekly to give approval to<br />

a number of high cost items including specific recruitment activity, outsourcing <strong>and</strong><br />

additional clinical capacity sessions.<br />

5.3.3 Establishment of Financial Performance Reviews in addition to the overall<br />

performance reviews. These will initially operate at a care group level but will move to<br />

a Service Line level in Month 3 once financial <strong>and</strong> operational data is available to<br />

match the newly established service lines.<br />

5.3.4 Development of a financial recovery plan with the aim of both securing delivery in<br />

2013-14 as well as developing robust plans for 2014-15 <strong>and</strong> 2015-16. At the time of<br />

writing we are in the process of recruiting an external partner to support us with<br />

additional capacity to develop a detailed financial recovery plan. A further update will<br />

be provided to the Board.<br />

6. Conclusion <strong>and</strong> recommendations<br />

6.1 The Board is asked to note the financial position of the <strong>Trust</strong> as at 31 st May 2013.<br />

6.2 The Board is asked to endorse <strong>and</strong> discuss the actions at 5.3

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