BHRUT annual report 2009 - Barking Havering and Redbridge ...

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Annual Report & Accounts 2009-2010 19 IFRS Preparations The Trust has prepared the Accounts under International Financial Reporting Standards (IFRS) for the first time in 2009/10. The Trust re-stated its 2008/09 comparative position and the 2009/10 opening balances under IFRS, which have been externally audited. The main impact on the revenue position in 2009/10 has been to account for the PFI contract for Queen’s Hospital as a finance lease and therefore as an asset on the balance sheet, which impacts on the accounting transactions going through the I&E position. Overall there was an adverse impact of £2.0m in 2009/10, which is excluded from the Trust’s position when assessing performance against the control total. Financial Governance The Trust’s financial situation is monitored by its Finance Committee, which was chaired by Non Executive Director Mark Hicks, prior to the appointment of the new Chairman, Sir David Varney in January 2010, who took over the Chairmanship from that point. There were eight meetings held in 2009/10, of which Mark Hicks chaired two, Barbara Liggins (Acting Chairman) five and Sir David Varney one. The Trust Audit Committee, which is chaired by Stuart Cruickshank, monitors the Trusts governance arrangements. Stuart resigned his chairmanship of the Audit Committee in June 2010. The Trust’s current external auditors are the Audit Commission. The cost of their work performed amounted to £311k for the year. Pension liabilities have been accounted for in accordance with note 1.7 of the Accounts. Remuneration Report The remuneration package and conditions of service for Executive Directors is agreed by the Trust Remuneration Committee, a Committee of the Board of Directors consisting of the Non-Executive Directors, including the Chairman of the Trust. The remuneration for certain Executive Directors does include performance related bonuses and none of the Executives receives personal pension contributions other than their entitlement under the NHS pension scheme. Each year, the Remuneration Committee considers the contribution of each Director against the functions of the post as defined in the current job description and as foreseen for the future. This is carried out in parallel with a review of the individual’s career development and potential opportunities for progression. The Remuneration Committee considers the matter of succession planning, although all Executive Directors hold permanent contracts. The notice period for Executive Directors is six months and there are no arrangements for termination payments or compensation for early termination of contract. Non-Executive Directors, including the Chairman, are appointed by The Appointments Commission for specified terms subject to re-appointment thereafter at intervals of no more than four years and to the relevant laws relating to the removal of a Director. The Constitution currently requires Non-Executive Directors to retire after eight years’ service. The Remuneration Committee met five times during 2009/10. Remuneration Committee Members Chair – Sir David Varney Barbara Liggins Ray Playford John Goulston Ruth McAll Remuneration Report
20 Barking, Havering & Redbridge University Hospitals NHS Trust In determining Directors’ pay and conditions, the Remuneration Committee took into account comparative information available from NHS Partners survey and the IDS Boardroom Pay Report. The level of remuneration for non-executive Board Members is based on an average expected workload of three to four days a month for Non-Executive Directors and two to three days a week for the Chairman. The contracts of Directors who served during the year are summarised in the table below. Role Starting date Title First Name Surname Director of Nursing 01-Nov-09 Professor Dickon Weir-Hughes Chairman 14-Jan-10 Sir David Varney Chief Executive 01-Mar-08 Mr. John Goulston Director of Delivery 12-May-08 Mr. Neill Moloney Director of Finance 01-Apr-09 Mr. David Wragg Director of HR 01-Dec-08 Mrs. Ruth McAll Director of Nursing 04-Jan-10 Ms. Deborah Wheeler Medical Director 01-Mar-06 Dr Yasmin Drabu Director of Strategy and Planning 18-Jan-10 Mr Robert Royce Non Executive Director 18-Jun-08 Mr. Stuart Cruickshank Non Executive Director 01-Feb-06 Ms. Renata Drinkwater Non Executive Director 01-Jan-04 Mr. Mark Hicks Non Executive Director 01-Aug-04 Mrs. Barbara Liggins Non Executive Director 01-Dec-08 Mr. Keith Mahoney Non Executive Director 01-Feb-09 Professor Raymond Playford Remuneration Report
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