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Financial Plan 2008-09
Board Meeting – 8 April 2008
Russell FavagerDirector of Finance
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Quick Recap
Headlines Operating Framework
• 5.46% flat increase
• 1 Year Allocation only
• 2.3% Tariff (inflation) Uplift
• 0.53% Specialist Commissioning
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Sources of Funding for 2008-09
New Growth (5.46%) £27.3m
B/Forward recurrent Surplus £12.1m
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Total “new” Monies available£39.4m
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Application of Growth FundingCost & Demand Pressures £23.0m
Delivery of Commissioning Objectives £7.7m
Age Related Macular Degeneration (AMD) £1.0m
Ambulance Service £1.0m
Primary Care Access £0.7m
Community Services £0.7m
Increase in SHA Lodgement £0.5m
Other £2.0m ------------
Total £36.6m
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Summary of Planned 2008-09 Position
Resources Available £39.4m
Funding Committed £36.6m
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Potential Surplus £2.8m
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Issues/Risks for Board be aware of• £4m Contingencies held by PCT
• Assume activity commissioned in contracts sufficient to achieve 18 week target
• Assume SHA will approve St Caths OBC / accept £14.5m Lodgement
• Impact of Lord Darzi review – assume any extra requirement on PCT will be central funding
• Impact of Allocation Formula review is neutral
• Planned Expenditure will occur in-year
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Expenditure Profile Commissioning Strategy £'000s
2008/09 2009/10 2010/11 2011/12 2012/13 TOTAL
S01 1,596 1,404 1,000 0 0 4,000
S02 2,000 1,000 0 0 0 3,000
S03 1,320 130 1,100 0 0 2,550
S04 539 338 0 0 0 877
S05 945 100 0 0 0 1,045
S06 1,090 325 95 0 0 1,510
S07 1,750 1,875 1,382 1,200 1,200 7,407
9,240 5,172 3,577 1,200 1,200 20,389
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Savings Scenarios from Commissioning Strategy
£'000s
2008/09 2009/10 2010/11 2011/12 2012/13 TOTAL
Best case 3,000 12,000 1,000 3,000 3,000 22,000
Medium change 1,500 4,000 4,000 3,500 3,000 16,000
Limited change 2,000 1,500 1,500 700 5,700
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Potential Risk around Forecast Position
Contingencies not required £4.0m
Slippage on Commissioning Strategy Spend £9.2m
Budget Underspends/Savings e.g.
• Prescribing / Pharmacy Contract
• Provider Services
• Secondary Care activity
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Capital Programme
St Catherine’s Redevelopment 650
Minor Schemes / Maintenance 200
IM&T 150
Provider Services 150
Digital Retinopathy 150
Technical Support / Project Management 80
VCH Scheme – finishing works 62
St Caths Accommodation – finishing works 50
TOTAL 1,492
Budget £’000
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Summary
2008-09 2009-10 2010-11
Planned Surplus £2,800 £2,900 £6,045 % of Budget 0.5% 0.5% 1.0% Recurrent Surplus £4,800 £5,400 £5,600
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Any Questions?