AGENDA ITEM 3.1 21 March 2019 Finance, Performance ... · Finance Report Month 11 Page 3 of 39 Finance, Performance & Workforce Committee 21 March 2019 FINANCE REPORT – MONTH 11

Finance Report

Month 11

Page 1 of 39 Finance, Performance & Workforce

Committee 21 March 2019

AGENDA ITEM 3.1

21 March 2019

Finance, Performance & Workforce Committee Report

FINANCE UPDATE – MONTH 11 OF 2018/19

Executive Lead: Director of Finance

Author: Deputy Director of Finance

Contact Details for further information: Mark Thomas 01443 443845 or

email [email protected]

Purpose of the Finance, Performance & Workforce Committee Report

The purpose of the attached report is to highlight the key messages in relation

to the Month 11 financial position.

Governance

Link to Health

Board Strategic Objective(s)

The Board’s overarching role is to ensure its Strategy

outlined within ‘Cwm Taf Cares’ 3 Year Integrated Medium Term Plan 2015-2018 and the related organisational

objectives, aligned with the Institute of Healthcare Improvement's (IHI) ‘Triple Aim’ are being progressed,

these in summary are; To improve quality, safety and patient experience.

To protect and improve population health. To ensure that the services provided are accessible

and sustainable into the future. To provide strong governance and assurance.

To ensure good value based care and treatment for

our patients in line with the resources made available to the Health Board.

The report aligns specifically with ensuring good value based care and treatment for our patients in line with the

resources made available to the Health Board.

Supporting

evidence

N/A.

Engagement – Who has been involved in this work?

The Month 11 position and forecast year end position for the Health Board has been shared with Welsh Government (WG) via our monthly Monitoring return

submissions.

mailto:[email protected]

Finance Report

Month 11

Page 2 of 39 Finance, Performance & Workforce

Committee 21 March 2019

Finance, Performance & Workforce Committee Resolution to:

APPROVE ENDORSE DISCUSS NOTE

Recommendation The Finance, Performance & Workforce Committee is

asked to: DISCUSS the contents of the Month 11 Finance

report for 2018/19.

Summarise the Impact of the Finance, Performance & Workforce Committee Report

Equality and Diversity N/A

Legal Implications No direct legal implications.

Population Health N/A.

Quality, Safety & Patient Experience

N/A

Resources The paper is directly relevant to the allocation

and utilisation of resources.

Risks and Assurance The key risks to the 2018/19 Financial Plan are

explained in the forecast section of the report.

Health and Care Standards

N/A

Workforce N/A

Freedom of information status

Open

Glossary of Terms

Acronym Meaning

A&C Administration & Clerical

AWCP All Wales Capital Programme

AME (WG) Annually Managed Expenditure

CHC Continuing Healthcare

COO Chief Operating Officer

CRES Cash Releasing Efficiency Savings

CRL Capital Resource Limit

FNC Funded Nursing Care

HCHS Healthcare & Hospital Services

IHI Institute of Healthcare Improvements

IMTP Integrated Medium Term Plan

I&E Income & Expenditure

LTA Long Term Agreement

M1 Month 1 (M2 Month 2 etc)

PCMH Primary Community & Mental Health

RGH Royal Glamorgan Hospital

PCH Prince Charles Hospital

PSPP Public Sector Payment Policy

WG Welsh Government

WHSSC Welsh Health Specialised Services Committee

YTD Year to Date

Finance Report

Month 11

Page 3 of 39 Finance, Performance & Workforce Committee

21 March 2019

FINANCE REPORT – MONTH 11 of 2018/19

1. SITUATION / PURPOSE OF REPORT

The purpose of this report is to highlight the key messages in relation to the current month, year to date and forecast year- end financial position of Cwm Taf University Health Board as at Month 11 (M11).

2. BACKGROUND / INTRODUCTION

This report should be read in the context of the University Health Board’s Integrated Medium Term Plan which is available on the website.

The Health Board’s original financial plan for 2018/19 was approved by the Board on 29 March 2018.

This plan assumed additional Welsh Government funding of £9.0m. Further to recent discussions with the Welsh Government this funding has now been revised downwards to £3.5m. A revised financial plan to accommodate this reduced level of funding

was agreed by the Board on 29 May 2018. The revised annual budget is circa £650m. This report reflects performance against the revised financial plan.

The Health Board’s Integrated Medium Term Plan (IMTP) for 2018/19 to 2020/21 was approved by the Welsh Government on

13 June 2018.

Finance Report

Month 11


21 March 2019

Report Sections

The following sections are included in this report:

Section No. Section Page Number

Headline Messages

3.1 Headline Messages @ Month 11 5

Summary Analysis

3.2 Financial Performance and Key Targets 6

3.3 Revenue Performance by Expenditure Category 7

3.4 Revenue Performance by Division 12

3.5 Pay Expenditure 14

3.6 Non Pay Expenditure 22

3.7 Income 27

3.8 Savings Plan Performance 29

3.9 Non Delegated Budgets 32

3.10 Welsh Government Allocations 34

3.11 Performance against Capital Resource Limit 35

3.12 Public Sector Payment Performance 36

3.13 Balance Sheet 37

3.14 Cash Flow 38

Finance Report

Month 11


21 March 2019

3. ASSESSMENT / GOVERNANCE AND RISK ISSUES

3.1 Headline Messages - Month 11

The M11 year to date income and expenditure position remains very close to budget and the M11 year end forecast remains a breakeven position (sections 3.2 to 3.4). This forecast includes provision for one off investment opportunities in 2018/19

of £4.3m and the Executive Team have earmarked this funding across a range of priority areas including:

- Referral to Treatment (RTT) and other backlogs - Equipment replacement

- Paediatrics, Obstetrics & Neonates (PON) and maternity support - Invest to Save schemes

We have reported a forecast break even position to WG at M11 together with a worse case of breakeven and a best case of

a £0.5m surplus.

The Health Board’s performance in meeting its ‘Prompt Payment’ target improved to 95.5% against a target of 95% during February and continues to remain on target for the year to date (see summary in section 3.2 and detail in section 3.12).

Capital expenditure to M11 is only £0.08m below the phased plan. The Capital Resource Limit currently stands at £27.0m

with expenditure to M11 of only £15.3m. Significant expenditure is planned for M12 in order to fully utilise the Capital Resource Limit. (see summary in section 3.2 and detail in section 3.11).

The M11 In month delegated overspend was £1.1m compared to an average overspend for the first 10 months of £1.0m.

The M11 YTD under spend of £0.03m continues to be made up of a significant delegated overspend (£10.9m), offset by an under spend on non-delegated budgets and reserves (£10.9m). See sections 3.3 and 3.9 for details.

Forecast savings have improved to £11.6m and this represents a £2.0m shortfall in savings against the £13.6m target. See

section 3.8 for details of performance on savings against plan.

The 2018/19 Financial Plan had a planned recurrent deficit going into 2019/20 of £4.8m.We are now forecasting a recurrent

underspend in 2018/19 of £4.4m which reduces the recurrent deficit going into next year to £0.4m. This is consistent with our IMTP submission on the 7th March. See Section 3.3 for details.

Finance Report

Month 11


21 March 2019

3.2 Financial Position and Key Targets – Month 11

The Health Board has a statutory duty to achieve a break even position over a period of three financial years. This applies to both revenue and capital expenditure. Over the last two financial years, the Health Board has achieved a small

surplus of £42k and £14k for revenue and capital expenditure respectively. This means that the Health Board can overspend by £42k and £14k for revenue and capital expenditure respectively in 2018/19 and still meet its three year

statutory duty. The Health Board’s plan for 2018/19 is to break-even on both measures. The Health Board also has an administrative duty to pay a minimum of 95% of all non-NHS invoices within 30 days.

The table below details the Health Board’s 2018/19 current and forecast performance against these key financial targets:

Target Unit Current Month

Year to Date

Trend Forecast Year End

Revenue To ensure that the Health Board’s revenue expenditure does

not exceed the aggregate of it’s funding in each financial

year. Measured by variance against plan to break even.

£’000

+Adverse

()Favourable

(1) (28)

0

Capital To ensure net capital spend does not exceed the Welsh

Government Capital Resource Limit. Measured by variance

against plan to manage to the Resource Limit

£’000

+Adverse

()Favourable

(60) (77)

0

Public Sector Payment Policy To pay a minimum of 95% of all Non NHS invoices within 30

days. Measured by actual performance % 95.5 96.0

>95

Finance Report

Month 11


21 March 2019

3.3 Revenue Performance by Expenditure Category

Annual

Budget

Over/(Under) Spend

Section Current

Month Year to Date Forecast Recurrent Forecast

£'000 £'000 £'000 £'000 £'000

Delegated Budgets

Pay 355,489 518 2,061 2,559 3.5

Non Pay 395,748 936 3,806 3,556 3.6

Income (97,452) (344) 22 370 3.7

Delegated Savings Plans (5,505) (31) 4,975 5,322 3.8

Total Delegated Budgets 648,280 1,079 10,864 11,808

Expected improvement in Delegated

forecast 0 0 0 (923)

See below

Non Delegated Budgets 37,586 (1,080) (10,892) (10,885) 3.9

WG Allocations (685,866) 0 0 0 3.10

GRAND TOTAL M11 0 (1) (28) 0 (4,400)

GRAND TOTAL M10 0 2 (27) 0 (3,500)

Finance Report

Month 11


21 March 2019

Current Month

The M11 Pay overspend of £518k is a deterioration of £364k compared to the average monthly overspend for the first 10 months of the year of £154k. Significant adverse variances from trend were seen in the following

Directorates: o Acute Medicine £148k ( Medical £83k and Registered Nursing £33k)

o Children & Young People £61k ( Nursing £57k)

The M11 medical agency cost of £1.3m is consistent with the average of the previous 6 months.

The M11 Non pay overspend of £936k represents an deterioration of £649k compared to the average monthly

overspend for the previous 10 months of £287k. The most significant variations from trend were in the following areas:

o Medicines Management - £895k deterioration, mainly growth in primary care prescribing costs (see below) o Mental Health- £270k improvement, mainly Continuing Healthcare

o ACT- £126k improvement, mainly Clinical Supplies

The M11 Income underspend of £344k is an improvement of £381k compared to the average monthly overspend for the first 10 months of the year of £37k. The most significant improvement was in:

o Contracting & Commissioning where the £273k improvement was mainly LTA income with Health Boards (£194k) and Non Contracted Activity (£55k)

o Corporate Functions where the £151k improvement was mainly due to NHS Redress (£135k).

The M11 Delegated savings overachievement of £31k is an improvement of £532k from the M10 monthly trend of £501k. This is mainly due to the improvement in Contracting & Commissioning Savings.

Finance Report

Month 11


21 March 2019

Year to Date

The M11 YTD Pay overspend of £2.1m includes a medical pay overspend of £3.5m. Medical and dental pay overspends have been steadily increasing in 2018/19 and this remains a key area of concern. A detailed analysis of the Medical

and Dental pay overspends at M10 was discussed at the FP&W Committee in February which included information on individual directorate overspends, key drivers for the over spends and actions being taken to reduce the overspends.

The M11 YTD Non pay over spend is £3.8m. Funding has been set aside for circa £1.3m of this overspend but has yet

to be allocated to directorates. The key overspending areas within the balance of £2.5m include:

o Medicines Mgt £1609k (see below)

o Pathology £432k, mainly drugs o Facilities £291k, mainly catering provisions

o Localities £262k, mainly Continuing Healthcare o Estates £309k, mainly increased energy costs

o PC&S £441k, mainly increased legal claims. The FP&W Committee have requested a report on this area for the March meeting.

The M11 YTD non pay overspend in Medicines Management of £1.6m is attributed to growth in Primary care prescribing

costs exceeding the £3m growth budget for 2018/19. Further work is being undertaken to fully understand the reasons for the increased growth in 2018/19.

The M11 YTD Income over spend is only £0.02m. Overspending areas are identified in Section 3.7

The M11 YTD CRES shortfall on Delegated budgets remains at £5.0m. The combined Savings position (Delegated and Non Delegated) is shown in Section 3.8.

Further information on the M11 YTD Non Delegated under spend is provided in Section 3.9.

The year end forecast has been refreshed, based on Directorates’ delegated budget forecasts based on Month 8 results,

together with updates of non-delegated budget forecasts taking account of the most recent Month 9 information.

Finance Report

Month 11


21 March 2019

Year to Date

The M6 YTD Pay overspend of £1.9m includes a medical pay overspend of £2.0m. Medical and dental pay overspends have been steadily increasing in 2018/19 and this is a key area of concern. A detailed analysis of the Medical and

Dental pay overspends was provided in the M4 Finance report, which provided information on individual directorate overspends, key drivers for the overspends , actions being taken to reduce the overspends and what impact the

actions are forecast to have if successful. We are planning to refresh this analysis based on M6 data as a separate report to the FP&W Committee in November or December.

The M6 YTD Non pay over spend is now only £0.2m. Overspending areas are identified in Section 3.6.

The M6 YTD Income over spend is only £0.2m. Overspending areas are identified in Section 3.7

The M6 YTD CRES shortfall on Delegated budgets is £3.2m. The trend rate of savings and forecast full year savings are

largely static. The combined Savings position (Delegated and Non Delegated) is shown in Section 3.8.

Further information on the M6 YTD Non Delegated under spend is provided in Section 3.9.

Year End Forecast

The year end forecast has been refreshed, based on Directorates’ delegated budget forecasts based on Month 5 results,

together with updates of non-delegated budget forecasts taking account of the most recent Month 6 information.

Year End Forecast

The following table summarises the latest In Year forecast for 2018/19 and the main changes since M10.

There are several key points to note regarding the In year forecast:

No change to the overall forecast break even position, with the £0.9m deterioration in the bottom up delegated and non delegated forecasts being offset by an expected improvement in the total Year end delegated forecast of £11.8m.

The total Year end delegated forecast of £11.8m includes assumed funding of £1.3m. Without this funding the forecast overspend would increase to £13.1m which represents an increase of £2.2m over and above the M11 YTD overspend of

£10.9m. This is £1.3m above the average monthly overspend to M11 and we are expecting this to improve by circa £0.9m in M12.

The M10 forecast for Medicines Mgt has deteriorated by £1.1m from the M9 forecast. As noted above the main reason

for this deterioration is growth in primary care prescribing costs.

2018/19 In Year

forecast

2018/19

Recurrent

Forecast

£k £k

Month 10 Executive Board ( M9 forecasts) 0 -3500

Month 10 Movements- Delegated forecasts:

Medicines Mgt 1145 1124

Net movement across all otherdirectorates -362 -91

Sub total 783 1033

Expected improvement in Delegated forecast -923 0

Month 10 Movements- Non Delegated forecasts:

Other cost pressures 140 -912Reduction in forecast Delegated overspend linked

to the 2019/20 IMTP submission 0 -1,000

Sub total 140 -1912

Net movement in M11 0 -879

M11 Executive Board ( M10 forecasts) 0 -4379

Planned deficit 4800

Recurring Forecast - 19/20 421

Finance Report

Month 11


21 March 2019

Revenue Performance by Division The key points to note regarding the Recurrent forecast are as follows:

The 2018/19 Financial Plan had a planned recurrent deficit going into 2019/20 of £4.8m. Following detailed work for the

January IMTP submission to WG, the M10 Finance report showed a forecast recurrent underspend against plan in 2018/19 of £3.5m which reduced the recurrent deficit going into next year to £1.3m. We have recently re-submitted our IMTP to

WG on 7 March and this has further reduced the recurrent deficit going into next year by a further £0.9m to £0.4m.

Finance Report

Month 11


21 March 2019

3.4 Revenue Performance by Division

Over/(Under) Spend

Annual

Budget Current Month Year to Date Forecast

Recurrent

Forecast

£'000 £'000 £'000 £'000 £'000

Chief Operating Officer:

Unscheduled Care 83,049 411 3,646 3,506

Planned Care 105,542 39 3,209 3,644

Clinical Support 48,776 253 1,404 1,075

Facilities 26,957 99 1,132 1,452

Total COO 264,324 801 9,390 9,676

PCMH:

Primary & Community 145,343 43 1,989 2,404

Mental Health 51,488 (297) (982) (922)

Medicines Management 81,935 854 1,585 1,586

Total PCMH 278,767 600 2,592 3,068

Contracting & Commissioning 54,661 (149) (867) (776)

Corporate Functions 50,528 (173) (251) (160)

Total Delegated Budgets 648,280 1,079 10,864 11,808

Expected improvement in

Delegated forecast 0 0 0 (923)

Non Delegated Budgets 37,586 (1,080) (10,892) (10,885)

WG Allocations (685,866) (0) (0) 0

GRAND TOTAL M11 0 (1) (28) 0 (4,400)

GRAND TOTAL M10 0 2 (27) 0 (3,500)

Finance Report

Month 11


21 March 2019

Current Month

The above table shows the current month, YTD and forecast positions by Division rather than by Expenditure

categories as in Section 3.3 above.

The main areas of overspends , expressed as a % of budget are as follows: - Medicines Management 12.51%, Clinical Support 6.2%, Unscheduled care 5.9% and Facilities 4.4%

Year to Date

The delegated budget overspend of £10.9m is concentrated in the acute service areas, and particularly

Unscheduled Care and Planned Care. However, the £2.6m overspend in PCMH is also much higher than in previous years. This is largely attributable to Primary care prescribing (£1.6m), CRES shortfalls in Primary,

Children and Community services (£0.7m) and pay overspends in managed practices (£0.4m).

The main areas of overspends , expressed as a % of budget are as follows: - Unscheduled care 4.8%, Planned care 3.4%, Clinical support 3.1% and Facilities 4.7%

- Primary & Community 1.5% and Medicines Management 2.1%

Year End Forecasts

The basis of the in year and recurrent forecasts are described in Section 3.3 above by Expenditure category. The table above shows the same forecast by Division.

Finance Report

Month 11


21 March 2019

3.5 Pay Expenditure

Monthly Trends (Please note scale of Y-axis)

M11 Agency

Expenditure Total Agency Expenditure

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar YTD

£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000

2018/19 Total 1,586 1,640 1,615 1,757 2,006 1,924 1,992 2,144 1,806 2,242 2,280 20,990

% of Total Pay 5.6% 5.6% 5.7% 6.1% 6.9% 6.7% 6.9% 6.3% 5.9% 7.5% 7.5% 6.4%

2017/18 Total 1,964 1,706 1,585 1,958 1,781 2,322 1,484 1,620 1,374 1,932 1,734 1,974 21,433

% of Total Pay 7.0% 5.9% 5.7% 7.0% 6.2% 8.2% 5.3% 5.6% 4.9% 6.9% 6.0% 6.6% 6.3%

25,000

26,000

27,000

28,000

29,000

30,000

31,000

32,000

33,000

34,000

35,000

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

Total Pay Expenditure £'000

2017/18 Actual 2018/19 Budget 2018/19 Actual

Key Issues

The November budget was increased by

£4m to reflect the pay award arrears for

Agenda for change staff for April to

September.

The December budget was increased by

£1.1m to reflect the pay award and arrears

for Medical & Dental staff.

Total expenditure in M11 increased by

£0.85m from the average to M10. This is

due to increased agency of £0.4m and

increased substantive costs of £0.3m.

The increased budget for M12 mainly

includes reserves for Mental Health funding

and transition funding for the Bridgend

boundary change.

Finance Report

Month 11


21 March 2019

Performance by Staff Category

Annual

Budget

Current Month

Variance

Year to

Date

Variance

YTD Variance

as % of YTD

budget

£'000 £'000 £'000 %

Medical And Dental 87,639 405 3,542 4.43%

Wards and A&E Nursing:

Registered Nursing 32,622 4 (49) -0.17%

Additional Clinical Services 18,224 98 1,342 8.06%

Sub-Total Wards & A&E Nursing 50,847 102 1,293 2.78%

Other Nursing:

Registered Nursing 80,061 (132) (2,360) -3.26%

Additional Clinical Services 14,891 50 1,105 8.14%

Sub-Total Other Nursing 94,952 (82) (1,255) -1.46%

Additional Clinical Services 7,834 (64) (63) -0.88%

Allied Health Professionals 20,183 (24) (267) -1.45%

Add Prof Scientific And Technical 13,207 (12) (543) -4.49%

Administrative & Clerical 49,811 75 (948) -2.10%

Estates And Ancillary 20,847 53 318 1.66%

Healthcare Scientists 10,168 63 (26) -0.28%

Other 0 1 10

Grand Total 355,489 518 2,061 0.64%

Key Issues

The vast majority of the 2017/18 pay overspends

were fully funded in the 2018/19 financial plan,

with corresponding savings targets to

reduce expenditure.

The continued

overspends seen in Medical & Dental and

Wards and A&E are therefore a significant

concern. These 2 areas are discussed further

below.

Within Other Nursing, the over spends in

Additional Clinical Services at a directorate

level are mainly offset by

corresponding under spends in Registered

Nursing.

Finance Report

Month 11


21 March 2019

Performance by Division

In Month Variance Year to Date Variance Over/(Under) Spend Over/(Under) Spend

Annual

Budget

Last

Month

Current

Month Change Current Month

£'000 £'000 £'000 £'000 £'000


Unscheduled Care 69,065 (138) 268 406 1,467

Planned Care 87,093 35 7 (28) 1,019

Clinical Support 39,354 (105) 45 150 36

Facilities 20,291 28 36 8 149

Total COO 215,803 (180) 356 536 2,671

PCMH:

Primary & Community 73,896 57 95 38 173

Mental Health 27,647 (3) 11 14 92

Medicines Management 8,053 (13) 12 25 (5)

Total PCMH 109,596 42 118 77 260

Contracting & Commissioning 0 0 0 0 0

Corporate Functions 30,090 (107) 44 151 (870)

GRAND TOTAL 355,489 (246) 518 764 2,061

Key Issues

M11 is reporting a pay overspend of £518k compared to an under spend of £246k in M10. The M11 Pay overspend of £518k is a deterioration of £364k compared to the average monthly overspend for the first 10 months of the year

of £154k.

Significant deteriorations from trend were seen in the following Directorates: o Acute Medicine £148k ( Medical £83k and Registered Nursing £33k)

o Children & Young People £61k ( Registered Nursing £57k)

The M11 YTD overspend of £2,061k is mainly within the Unscheduled Care and Planned Care Divisions.

Finance Report

Month 11


21 March 2019

Medical and Dental Pay Expenditure

The chart below shows the trends of Medical & Dental pay expenditure and budget. (Please note scale of Y-axis)

£6.0m

£6.5m

£7.0m

£7.5m

£8.0m

£8.5m

£9.0m

Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19

Medical & Dental Pay Expenditure

2017/18 Actual Budget 2018/19 Actual

76%

16%

8%

Current Mth

78%

15%

7%

YTD 2018/19

79%

15%

6%

2017/18

SUBSTANTIVE

AGENCY

LOCUM

Key Issues Expenditure in M11 remained

relatively static at £7.9m.

The M11 YTD variance is £3.5m adverse.

The M11 YTD savings for Medical

Staffing cross cutting theme is only

£1.1m compared to a target of £3.6m (See section 3.8).

The M11 medical agency cost of

£1.26m has slightly decreased compared to last month.

M11 agency expenditure accounted

for 16% of total Medical & Dental pay, compared to 15% year to date

and 15% for 2017/18.

The medical pay position remains a concern with a continuation of

increased expenditure levels.

Finance Report

Month 11


21 March 2019

The table below shows current monthly medical and dental agency expenditure and provides a comparison to the

previous year.

M11 Medical & Medical & Dental Agency Expenditure

Dental Agency

Expenditure Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar YTD

£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000

2018/19 Total 941 1,035 930 1,086 1,262 1,256 1,269 1,332 1,058 1,307 1,261 12,738

% of Total Medical &

Dental Pay 13.1% 14.2% 13.2% 14.7% 16.6% 16.6% 17.6% 16.7% 12.5% 16.6% 15.9% 15.2%

2017/18 Total 1,096 1,006 1,073 1,160 1,039 1,369 1,055 1,097 1,028 1,458 1,102 940 13,424

% of Total Medical &

Dental Pay 15.7% 14.3% 15.4% 16.5% 14.5% 18.4% 14.8% 14.7% 14.1% 20.3% 14.5% 11.6% 15.4%

Key Issues

The level of medical and dental pay overspends remains a key area of concern. A detailed analysis of the

Medical and Dental pay overspends at M10 was discussed at the FP&W Committee in February.

Finance Report

Month 11


21 March 2019

Registered Nursing - Wards and A&E Pay Expenditure

The charts below show the monthly trends for Registered Nursing Wards and A&E pay expenditure & budget. (Please note scale of Y-axis)

£2.0m

£2.2m

£2.4m

£2.6m

£2.8m

£3.0m

£3.2m


Registered Nursing Pay ExpenditureWards & A&E


80%

19%

1%

Current Mth

82%

17%

1%

YTD 2018/19

84%

15%1%

2017/18

SUBSTANTIVE

AGENCY

BANK

Key Issues The Ward and A&E budgets for

2018/19 were set based on the actual expenditure levels in M8-10 of

2017/18.

The M8 budget was increased by £320k to reflect the pay award

arrears for Agenda for change staff.

Expenditure in M11 is unchanged from M10 at £2.7m.

The M11 YTD Variance is £49k

favourable.

The M11 agency cost has remained

static at £524k. The M11 YTD agency cost now exceeds £5m.

M11 agency expenditure accounted

for 19% of total Ward and A&E registered nursing pay, compared to

17% YTD and 15% for 2017/18.

Finance Report

Month 11


21 March 2019

Registered Nursing - Wards and A&E Agency Expenditure

The table below shows current monthly Registered Nursing Wards and A&E nursing agency expenditure and provides a comparison to the previous year.

M11 Wards and

A&E Wards and A&E Registered Nursing Agency Expenditure

Registered

Nursing Agency

Expenditure Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar YTD

£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000

2018/19 Total 398 383 380 406 506 487 514 477 488 523 524 5,087

% of Total Pay 15.3% 14.1% 14.9% 15.6% 18.4% 18.8% 19.2% 15.6% 17.8% 19.1% 19.0% 17.1%

2017/18 Total 556 398 141 503 441 574 226 293 292 266 369 602 4,660

% of Total Pay 20.1% 14.2% 5.8% 18.4% 16.1% 21.0% 9.3% 11.4% 11.9% 11.0% 13.9% 21.4% 14.8%

Finance Report

Month 11


21 March 2019

Additional Clinical Services – Wards and A&E Pay Expenditure

The chart below show the monthly trends for Additional Clinical Services Wards and A&E pay expenditure & budget. (Please note scale of Y-axis)

£1.0m

£1.1m

£1.2m

£1.3m

£1.4m

£1.5m

£1.6m

£1.7m

£1.8m


Add Clinical Services Pay ExpenditureWards & A&E


72%

0%

28%

Current Mth

71%

1%

28%

YTD 2018/19

71%

0%

29%

2017/18

SUBSTANTIVE

AGENCY

BANK

Key Issues

The M8 budget was increased by

£240k to reflect the pay award

arrears for Agenda for change staff.

Expenditure in M11 is unchanged from M10 at £1.6m

The M11 YTD variance is £1,342k

adverse.

The M11 YTD total variance for Wards and A&E (Registered and

Additional Clinical Services) is therefore £1,293k adverse.

As at M11 only £74k of savings have

been reported for the Ward and A&E

Nursing Theme against a target of £1.8m (see section 3.8).

Finance Report

Month 11


21 March 2019

3.6 Non Pay Expenditure

Monthly Trends

The chart below shows the monthly trends of non pay expenditure and budgets: (Please note scale of Y-axis)

£20.0m

£25.0m

£30.0m

£35.0m

£40.0m

£45.0m

£50.0m

£55.0m


Total Non Pay Expenditure £'000


Key Issues Expenditure in M11 decreased by

£1.7m from M10. The decrease was mainly CHC/FNC £0.9m, Primary Care

Prescribing £0.4m and WHSSC/EASC £0.7m

The M11 YTD variance is now £3.8m

adverse.

The increased budget for M12 mainly

includes directorate based reserves for:

NICE/High cost drugs (£1.5m) Nursing Home Pooled Budget

(£12.0m) Imaging Academy (£0.9m)

Partnerships (£0.9m) Facilities (£0.8m)

Estates (£0.3m)

Finance Report

Month 11


21 March 2019

Performance by Expenditure Category

The table below details in month and year to date variances in respect of non-pay expenditure.

Annual

Budget

Current

Month

Variance

Year to

Date

Variance

YTD Variance

as % of YTD

budget

£'000 £'000 £'000 %

Primary Care & Contracts

Primary Care Contracts 78,835 (4) (70) (0.10%)

Primary Care Prescribing 53,555 934 1,580 3.25%

CHC & FNC 48,264 (309) (482) (1.45%)

Secondary Healthcare 4,259 38 35 0.90%

Purchases of Healthcare

Services 3,784 (1) 19 0.83%

Services from Other NHS Bodies 112,187 (112) (507) (0.49%)

Total Primary Care & Contracts

300,885 546 575 0.22%

Traditional Non Pay

Secondary Care Drugs 28,693 (37) 889 3.28%

Clinical Supplies & Services 25,136 61 453 1.99%

General Supplies & Services 3,990 7 475 12.93%

Establishment Expenses 9,137 53 504 6.03%

Contract Staffing & Consultancy 138 9 119 95.34%

Misc Services - Other 11,516 172 146 2.27%

Premises & Fixed Plant 16,254 126 645 4.39%

Total Traditional Non Pay 94,863 390 3,230 3.88%

GRAND TOTAL 395,748 936 3,806 1.10%

Key Issues:

The M11 Non Pay overspend of

£937k represents a deterioration compared to the average monthly

overspend for the first 10 months

of the year of £287k.

The most significant areas of deterioration in trend were in the

following areas: - Primary Care Prescribing £870k

The most significant areas of

improvement in trend were in the following areas:

- CHC £292k - Secondary Care Drugs £130k

Further information on the YTD

overspending areas is provided

overleaf.

Finance Report

Month 11


21 March 2019

The table below provides an analysis of the most significant year to date non-pay overspends noted above:

Analysis of significant Non-Pay Year to Date Over Spends

Variance

£’000

Pathology 345

Acute Medicine 268

ACT 93

Other 183

Total - Secondary Care Drugs 889

Utilities 377

Furniture & fittings 228

Photocopying rental & charges 33

Primary Care – Premises Contracts 60

Other (53)

Total – Premises & Fixed Plant 645

Catering Provisions 349

Housekeeping 122

Other 4

Total – General Supplies & Services 475

Stationery 131

Training 116

Advertising 146

Legal Fees 107

Other 4

Total – Establishment Expenses 504

Medical & Surgical Equipment 486

Dressings (176)

Reporting 85

Other 53

Total – Clinical Supplies & Services 453

Key Issues

The drug overspends in Pathology and Acute Medicine continue to

increase. Further work is being undertaken to understand the

reasons for these overspends and this will inform budget setting for

19/20.

The premises & Fixed Plant over spend is mainly attributed to

Estates £293k, Acute Medicine

£149k and Pathology £58k.

The over spend in General supplies and services is almost wholly

attribute to Facilities.

The most significant overspend in Establishment expenses are within

CAMHS, Primary Care, Workforce & OD and Mental Health.

The clinical supplies and services

overspend is mainly attributed to Acute Medicine £187k, ACT £190k

and Radiology £209k.

Finance Report

Month 11


21 March 2019

Primary Care Prescribing

Continuing Healthcare (CHC)

£3.0m

£3.5m

£4.0m

£4.5m

£5.0m

£5.5m


Primary Care Prescribing Expenditure £'m


£0.0m

£0.5m

£1.0m

£1.5m

£2.0m

£2.5m

£3.0m

£3.5m


Continuing Healthcare Expenditure £'m


Key Issues

o The production of primary care prescribing

data is usually 2 months following the month end. As such M10 & M11 are therefore

estimated costs rather than actual. o The M11 YTD position is reporting an over

spend of £1,580k. This is after M11 YTD savings of £1,500k. The over spend is

attributed to growth in Primary care prescribing costs exceeding the £3m growth

budget.

o

Key Issues

o The increase in both budget and expenditure in M8 reflects agreement on new rates for

nursing homes for 2018/19.

o The M11 YTD position is reporting an under spend of £423k. This is after M11 YTD

savings of £874k.

Finance Report

Month 11


21 March 2019


Annual Budget

In Month Year to Date

Over/(Under) Spend Over/(Under) Spend

Last Month Current Month Change Current Month

£'000 £'000 £'000 £'000 £'000


Unscheduled Care 16,032 15 61 46 706

Planned Care 22,379 0 (142) (142) 241

Clinical Support 12,427 163 152 (11) 838

Facilities 10,820 112 16 (96) 291

Total COO 61,658 290 87 (203) 2,076

PCMH:

Primary & Community 96,077 259 14 (245) 448

Mental Health 25,382 133 (290) (423) (487)

Medicines Management 77,926 180 960 780 1,609

Total PCMH 199,385 572 685 113 1,571

Contracting & Commissioning 108,566 (684) 191 875 (729)

Corporate Functions 26,139 65 (27) (92) 888

GRAND TOTAL 395,748 242 936 693 3,806

Key Issues: The M11 overspend of £936k represents a deterioration of £693k from the £242k overspend in M10 and a

£649k deterioration compared to the average monthly overspend for the previous 10 months.

The most significant deterioration in M11 was seen in Medicines Management where the deterioration from trend of £895k was due to additional costs in relation to primary care prescribing. This significant change is

a retrospective correction of growth assumptions relating to previous months and is not solely a M11 issue.

The M11 YTD overspend of £3.8m includes £1.6m in relation to Medicines Management/primary care prescribing.

Finance Report

Month 11


21 March 2019

3.7 Income

Performance by Income Category

Annual

Budget

Current

Month

Variance

Year to

Date

Variance

YTD

Variance as

% of YTD

budget

£'000 £'000 £'000 %

Income From Activities

Dental Income (3,900) (2) (92) (2.58%)

Local Health Boards (39,798) (126) (50) (0.14%)

Other (34,412) (183) 71 0.33%

Total Income from Activities (78,109) (311) (71) (0.12%)

Other Operating Income

Accommodation & Catering (2,512) (6) (99) (4.36%)

Charitable & Other Contributions (464) 12 33 7.52%

Education & Training (10,287) (22) (51) (0.54%)

Laundry, Pathology & Payroll (499) 8 (60) (12.62%)

Mortuary Fees (277) 1 (2) (0.67%)

Non Patient Care – Income Generation

(552) (8) 39 7.62%

Other Income (4,499) (24) 184 4.42%

Staff Payments for use of Cars (251) 7 48 21.44%

Total Other Operating Income (19,343) (31) 93 0.52%

GRAND TOTAL (97,452) (342) 22 0.03%

Key Issues

The most significant adverse YTD variances

relate to: WHSSC LTA Income

£312k, mainly due to reduced NICU activity

Injury Cost recovery Scheme £285k

Primary Care Support Unit Income £284k

The most significant

Favourable YTD variances relate to:

NHS Trusts £295k

Local Authorities £133k Medicines Rebates

£111k Accommodation &

Catering £99k Dental Income £92k

Finance Report

Month 11


21 March 2019


Annual

Budget

In Month Year to Date

Over/(Under) Spend Over/(Under)

Spend

Last Month Current Month Change Current Month

£'000 £'000 £'000 £'000 £'000


Unscheduled Care (368) (6) (16) (10) 27

Planned Care (1,977) 12 13 1 158

Clinical Support (2,198) 1 12 11 (166)

Facilities (3,369) (4) (13) (9) (31)

Total COO (7,913) 3 (4) (7) (12)

PCMH:

Primary Care, Children & Community (23,782) (85) (109) (24) 622

Mental Health (1,500) (97) (61) 36 (531)

Medicines Management (4,044) (5) 11 16 (84)

Total PCMH (29,326) (187) (159) 28 7

Contracting & Commissioning (54,393) 259 (14) (273) 188

Corporate Functions (5,820) (15) (166) (151) (161)

GRAND TOTAL (97,452) 61 (343) (403) 22

Key Issues

The M11 underspend of £343k represents an improvement of £403k from the £61k overspend in M10 and a £380k improvement compared to the average monthly overspend for the previous 10 months.

There were no significant areas of deterioration in M11.

The most significant improvement was in Contracting & Commissioning where the £273k improvement was mainly LTA income with Health Boards (£194k) and Non Contracted Activity (£55k).

There was also a £151k improvement in Corporate Functions which was mainly due to NHS Redress income of £135k.

The M11 YTD position is a £22k overspend.

Finance Report

Month 11


21 March 2019

3.8 Savings Plan Performance

Annual Plan

Variance Against Plan

Current

Month Year to Date Forecast Recurrent Forecast

£'000 £'000 £'000 £'000 £'000


Unscheduled Care 3,038 97 1,446 1,512

Planned Care 2,931 161 1,791 1,956

Clinical Support 1,364 44 695 663

Facilities 1,177 59 723 759

Total COO 8,510 361 4,655 4,891

PCMH:

Primary & Community 1,683 43 745 669

Mental Health 1,751 42 (57) 0

Medicines Management 1,910 (129) 65 0

Total PCMH 5,344 (43) 754 670

Contracting & Commissioning 500 (325) (325) (117)

Corporate Functions 732 (24) (109) (121)

Total Delegated Budgets 15,087 (31) 4,975 5,322

Non Delegated Savings Plans 200 (211) (1,447) (1,660)

CCT to be allocated to Directorates – Planned Care. 1,000 84 917 1,000

CCT to be allocated to Directorates – Unscheduled Care. 1,000 84 917 1,000

CCT to be allocated to Directorates – Value Based HC. 500 41 458 500

Slippage v recurring savings targets (4,162) (347) (3,815) (4,162)

Total Non Delegated Budgets (1,462) (350) (2,971) (3,322)

GRAND TOTAL M11 13,625 (381) 2,004 2,000 2,343

GRAND TOTAL M10 13,625 (299) 2,385 2,754 2,419

Key Issues

The M11 favourable variance of £381k is an improvement of £619k compared to the average monthly overspend for the first 10 months of the year of £238k. This is mainly due to increased savings from Contracting & Commissioning.

Finance Report

Month 11


21 March 2019

£0.0m

£2.0m

£4.0m

£6.0m

£8.0m

£10.0m

£12.0m

£14.0m

£16.0m


Saving Plans

Cumm Plan Cumm Actual

Key Issues

M11 YTD savings achievement is £10.5m

against a target of £12.5m, giving an adverse variance of £2.0m.

The latest forecasts are showing total risk

adjusted savings of £11.6m against a target of £13.6m, giving an adverse

variance of £2.0m.

Finance Report

Month 11


21 March 2019

Year to Date Performance – Savings Achieved

Annual

Target

Savings Achieved

Current Month

Year to Date

Forecast Recurrent Forecast

£'000 £'000 £'000 £'000 £'000

Medical Staffing 3,604 90 1,120 1,198 1,737

Wards & A&E 1,778 0 73 117 135

Other Nursing 1,479 335 943 1,082 611

Non Pay 750 123 1,046 1,242 1,023

Planned Care 1,000 7 43 50 70

Unscheduled Care 1,000 0 0 0 0

Value Based Healthcare 500 0 0 0 0

Directorate Specific 7,451 732 5,628 6,051 5,981

Non Delegated Savings 200 229 1,632 1,860 1,700

Savings Contingency (4,162) 0 0 0 0

Grand Total M11 13,600 1,516 10,485 11,600 11,257

Grand Total M10 13,600 1,434 8,969 10,846 11,181

Key Issues Actual savings to M11 are £10.5m.

Forecast savings are £11.6m compared to a straight line extrapolation of M11 of £11.4m. The annual savings targets for Planned Care, Unscheduled care and Value Based Healthcare themes of £2.5m have

not been allocated to the Directorates.

Finance Report

Month 11


21 March 2019

3.9 Non Delegated Budgets

Non Delegated Budgets and Reserves M10 Original

Plan

Revised

Plan

Current

Budget

Year to

Date

Variance

Forecast

In Year

Variance

Forecast

Recurrent

Variance

Note

£’000 £’000 £’000 £’000 £’000 £’000

Income and Allocations

Non-recurring Income Target (4,000) (5,000) (5,000) 4,583 5,000

Non-recurring Income Achieved (4,951) (5,401)

Repayment of Prior Year AME funding for CHC provisions 0 0 0 (1,100) (1,200) A

Savings

Recurrent Savings Target (200) (200) (200) 183 200 Section 3.8 Recurrent Savings to be Allocated 0 0 (2,501) 2,293 2,500 Section 3.8 Savings Achievement 1,860 (1,632) (1,860) Section 3.8 Expenditure Budgets

Capital Charges 15,449 15,449 24,977 0 0

Other Budgets 1,979 1,979 3,783 (127) (200)

Reserves and Contingencies

General Contingency 2,700 2,700 2,700 (2,475) (2,700) B

Savings Contingency against Recurrent Savings Targets 3,608 3,608 4,162 (3,815) (4,162) Section

3.8

Earmarked Budgets yet to be Allocated to

Directorates

Service Improvement - Local 2,500 1,500 317 (292) (318)

Service Improvement - Referral to Treatment 3,500 2,000 32 0 0

Service Improvement - WG Earmarked 800 800 0 0 0

Slippage (800) (800) (800) 733 800

Service & Demand Pressures 9,850 7,850 556 1,543 1,683 C

Inflation 9,650 9,650 2,050 (1,758) (1,918) D

Underlying Deficit - Non Pay Overspends 2017/18 3,466 3,466 1,260 (974) 76 E

Prior Year Commitments 5,018 5,018 3,401 (3,103) (3,385) F

Allocations to be yet released 85 85 988 0 0

Reduction in Forecast Delegated overspend linked to

2019/20 IMTP submission 0 0 0 0 0

TOTAL 53,605 48,105 37,585 (10,892) (10,885) (23,855) Notes follow on next page

Finance Report

Month 11


21 March 2019

Note A - Repayment of Prior Year AME funding for CHC provisions

The IMTP identified a cost pressure from settling retrospective CHC cases that were provided for in 2017/18 and covered by AME funding from WG. As these cases settle, the amounts paid to claimants need to be repaid to WG. Our Financial plan

includes a £1.3m non recurring budget for the anticipated settlement of cases in 2018/19. As at Month 11, only £171k of settlements have been made and we have revised our forecast down to £0.3m, giving rise to a forecast non-recurring under

spend of £1m. The forecast underspend of £1.2m also includes £0.2m in relation to other CHC provisions.

Note B - Uncommitted Reserves and Contingencies

The general contingency of £2.7m and the savings contingency of £4.2m are both being released on a straight line basis.

Note C - Service & Demand Pressures

The revised financial plan for 2018/19 includes £7.9m for service and demand pressures. £7.3m of funding has been allocated to directorates for agreed cost pressures leaving a M11 balance of £0.56m. As at M11 we are forecasting an over

spend of £1,683k, which includes a total sum available for one off investment opportunities in 2018/19 of £4.3m.

Note D - Inflation

The financial plan for 2018/19 included £9.65m for inflation and incremental drift. Further pay award funding of £6.3m has

recently been received WG and £9.3m of pay inflation issued to directorates at M11. Approved final funding has been allocated to directorates for Pay and non pay inflation. As at M11 we are forecasting an under spend of £1.9m.

Note E - Recurring Non Pay Overspends from 2017/18

All directorates have been funded for their forecast recurrent pay overspends from 2017/18. A £1.2m budget is still held in

Reserves for the forecast recurrent non pay overspends from 2017/18. Until allocated out to directorates this reserve balance is being released on a straight line basis to balance any non pay overspends in delegated budgets.

Finance Report

Month 11


21 March 2019

Note F - Prior Year Commitments

A £3.4m budget is held in Reserves for a range of commitments already made in 2017/18. A number of strategic cross Health Board initiatives, for which the timing of implementation is uncertain, have now been withdrawn. This includes budgets for

the reconfiguration of ENT and Vascular surgery and investment in WCCIS and SARC. This was done to get back as close as possible to the planned recurrent deficit of £4.8m. As and when these changes are proposed for implementation, they will

now need to be prioritised within the 2019/20 financial plan. Our M11 forecast is a £3.4m under spend in 18/19 of which £3.3m is recurrent.

3.10 Welsh Government Allocations

The table below shows the Health Board’s current Welsh Government allocation position:

Annual

Budget

Healthcare & Hospital

Services

Community

Pharmacy Dental

General Medical

Services £'000 £'000 £'000 £'000 £'000

Confirmed Allocations 686,729 604,752 18,680 13,476 49,821

Unconfirmed Allocations (863) (863) 0 0 0

TOTAL 685,866 603,889 18,680 13,476 49,821

Key Issues

The main unconfirmed allocations include:

o Donated Asset Reduction of £(3.2)m, o Transitional funding for the Bridgend boundary change of £1.7m

o WG New Trainees Funding £0.2m

Finance Report

Month 11


21 March 2019

3.11 Performance against Capital Resource Limit

The actual cumulative capital spend and forecast cumulative capital spend is detailed in the graph below:

0

5,000

10,000

15,000

20,000

25,000

30,000


Forecast Cumulative Spend £'000 Actual Cumulative Spend £'000

Key Issues

The current Capital Resource Limit

of £23.8m was issued on 5th March 2019.

This is supplemented by an

anticipated £3.2m donated funds, giving an overall programme of

£27.0m.

Expenditure to date is £15.3m

The forecast capital position is

break-even.

Finance Report

Month 11


21 March 2019

3.12 Public Sector Payment Performance

The Health Board’s monthly performance against the 95% public sector payment target is detailed in the graph below:

93.0%

93.5%

94.0%

94.5%

95.0%

95.5%

96.0%

96.5%

97.0%

97.5%

30 Day Public Sector Payment Policy

Actual Mth Actual YTD Target

Key Issues:

In M11, 95.5% of the number of non

NHS invoices were paid within 30 days.

The forecast position is to achieve

the 95% target for the year.

Finance Report

Month 11


21 March 2019

3.13 Balance Sheet

The M11 balance sheet is detailed below. Balance Sheet Opening Balance Closing Balance Forecast Closing

(01/04/2018) as at M10 Balance M12

£’000 £’000 £’000

Non Current Assets

Property, Plant & Equipment 362,968 355,933 362,968

Intangible Assets 1,061 1,061 1,061

Trade and Other Receivables 48,087 48,087 48,087

Total Non-Current Assets 412,116 405,081 412,116

Current Assets

Inventories 4,372 4,345 4,372

Trade and Other Receivables 57,355 79,950 57,066

Cash and Cash Equivalents (289) 1,298 172

Total Current Assets 61,438 85,593 61,610

Current Liabilities

Trade and Other Payables 75,689 92,790 75,885

Provisions 34,733 43,504 33,579

Total Current Liabilities 110,422 136,294 109,464

Non-Current Liabilities

Trade and Other Payables 1,621 1,621 1,621

Provisions 53,833 53,833 53,833

Total Non-Current Liabilities 55,454 55,454 55,454

TOTAL ASSETS EMPLOYED 307,678 298,926 308,808

Financed By:

General Fund 276,961 268,209 278,091

Revaluation Reserve 30,717 30,717 30,717

TOTAL 307,678 298,926 308,808

Key Issues

No issues to raise this

month.

Finance Report

Month 11


21 March 2019

3.14 Cash Flow

A cash flow forecast is detailed in the table below:

Cashflow Forecast Actual/Forecast

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Total

£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000

Receipts

WG Revenue Funding 50,374 49,094 64,627 42,372 68,372 47,804 53,105 61,043 55,293 53,748 56,146 65,484 667,461

WG Capital Funding 1,000 2,000 1,500 0 0 2,862 0 900 400 945 1,800 12,421 23,828

Sale of Assets 0 0 1 0 5 0 0 9 48 0 (20) 0 43

Welsh NHS Org'ns 5,978 6,119 4,750 6,280 4,427 5,949 4,920 5,426 4,909 5,253 5,043 5,860 64,914

Other 2,347 2,362 1,532 1,174 2,464 3,379 1,973 2,687 3,277 1,398 4,632 1,722 28,946

Total Receipts 59,699 59,575 72,410 49,826 75,268 59,994 59,998 70,065 63,927 61,344 67,601 85,487 785,193

Payments

Primary Care Services 9,637 9,890 18,049 4,309 16,359 4,862 9,902 16,026 11,510 5,302 10,062 11,124 127,032

Salaries and Wages 23,233 28,028 27,890 27,264 27,763 27,805 27,774 30,409 30,806 28,974 28,481 33,500 341,927

Non Pay Expenditure 20,419 23,900 23,846 20,185 30,003 21,719 23,809 24,232 20,253 24,383 26,807 29,210 288,767

Capital Payments 1,847 854 372 448 766 1,204 1,040 962 868 1,297 2,083 12,151 23,892

Other (Donated asset funding) 244 103 182 159 255 241 239 280 336 447 629 3,114

Total Payments 55,136 62,915 70,260 52,388 75,050 55,845 62,766 71,868 63,717 60,292 67,880 86,614 784,731

Net Cash In/Out 4,562 (3,341) 2,150 (2,562) 218 4,149 (2,768) (1,803) 210 1,052 (279) (1,127)

Balance B/F (289) 4,273 932 3,082 520 738 4,887 2,119 316 526 1,578 1,299

Balance C/F 4,273 932 3,082 520 738 4,887 2,119 316 526 1,578 1,299 172

Key Issues

As at the 28 February 2019 the cash balance was £1.3m. The forecast cash position is break-even.

Finance Report

Month 11

Page 39 of 39 Executive Board Meeting

20 March 2019

4 RECOMMENDATION

The Finance, Performance & Workforce Committee is asked to:

DISCUSS the contents of the Month 11 Finance report for

2018/19.

Freedom of

Information Status

Open

AGENDA ITEM 3.1 21 March 2019 Finance, Performance ... · Finance Report Month 11 Page 3 of 39 Finance, Performance & Workforce Committee 21 March 2019 FINANCE REPORT – MONTH 11

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