For Information Finance Report December 2022

Transcript:For Information Finance Report December 2022:
For Information Finance Report December 2022 (Month 9), FY23 Report to Board of Directors Executive Summary Income Statement & Forecast Outturn Forecast Movement from Previous Month Forecast Risks & Opportunities Directorate Financial Performance Provider Collaborative Financial Performance Covid-19 costs Pay Trends Agency Analysis Cost Improvement Plan Out of Area Placements Statement of Position Cash-flow Working Capital Indicators Capital Investment Programme Reconciliation to NHSE/I Template Contents A risk assessment has been undertaken around the legal issues that this paper presents and there are no issues that need to be referred to the Trust Solicitors. 1 2 Executive Summary Income & Expenditure position YTD - £2.2m better than plan Forecast - £3.0m better than plan The forecast continues to be better than plan by £3.0m Risks = £6.1m Opportunities = £8.8m Net = £2.7m Cash Actual £81.0m Forecast £59.0m Capital Expenditure YTD - £4.8m, lower than plan Forecast - £2.6m above funding allocation including risks. Highlights: The Trust has committed to a forecast outturn of £3.0m better than plan with the Buckinghamshire, Oxfordshire & Berkshire West Integrated Care System (BOB ICS). This takes into account agreed non-recurrent spend for this year. The Community directorate continues to be the main area of concern with a forecast outturn of £8.3m worse than plan. The month 9 position included an increase in the personal injury provision of £1.2m due to a settlement reached on a case through HR. This was not in the previous month’s forecast. The forecast now includes £1.0m additional spend for Mental Health Out of Area Placements (OAPs) due to an increase in placements in December and January. This was identified as a risk last month. The base forecast also now includes agreed unbudgeted non-recurrent spend in directorate positions. The base forecast has worsened to £2.5m better than plan with these changes, but it is expected that some opportunities will be realised before year-end to make the forecast of £3.0m better than plan still achievable. Year-to-Date Performance The Trust reports a £1.4m deficit at month 9, which is £2.2m better than plan. This includes a £5.9m overspend in the Community Directorate, offset by a £5.6m underspend on Covid-19 funding, a breakeven position across Mental Health Directorates, £1.3m unutilised reserves, favourable variances in Oxford Pharmacy Store (£0.4m), Research & Development (£0.8m) and Corporate (£0.6m) and a £0.6m underspend on Financing costs. 1. Income Statement & Forecast Outturn 3 Forecast Outturn The Trust’s Forecast