Total operating expenditure for the year is £473.1 million and is £4.4 million greater than Plan. The Trust has an EBITDA surplus of £39.1 million; £2.9 million lower than the £41.9 million in Plan. The Plan requires £33.3 million cost improvements, comprised of Trust’s £26.4 million for 2016/17 plus a further £6.9 million in relation to undelivered 2015/16 requirement. Present estimates show a shortfall in plans to deliver this target of £0.9 million recurrently). As at 30th September £13.9 million of planned savings have been recognized, equating to 6/12ths of £27.7 million. Capital Expenditure to 30th September 2016 totals £7.0 million and is £3.5 million lower than Plan. The Trust now plans to under spend on the 2016/17 capital plan by £7 million primarily as a result of slippage on the installation of a linear accelerator (£1.7 million), a re-profiling of expenditure for the Burns Unit refurbishment (£1.3 million) and slippage for one month’s RVI MSCP (£2.7 million) The Cash balance at the end of September 2016 is £98.2 million; £4.5 million lower than Plan owing mainly due to an increased level of accrued income for which invoices will soon be raised. 4. RECOMMENDATION To receive and acknowledge the overall financial position for the period to 30th September 2016. Angela Dragone Finance Director 21st October 2016
Total operating expenditure for the year is £473.1 million and is £4.4 million greater than Plan. The Trust has an EBITDA surplus of £39.1 million; £2.9 million lower than the £41.9 million in Plan. The Trust’s Plan requires £33.3 million cost improvements, comprised of £26.4 million for 2016/17 plus a further £6.9 million in relation to undelivered 2015/16 requirement. Present estimates show a shortfall in plans to deliver this target of £0.9 million recurrently). As at 30th September £13.9 million of planned savings have been recognized, equating to 6/12ths of £27.7 million. Capital Expenditure to 30th September 2016 totals £7.0 million and is £3.5 million lower than Plan. The Trust now plans to under spend on the 2016/17 capital plan by £7 million primarily as a result of slippage on the installation of a linear accelerator (£1.7 million), a re-profiling of expenditure for the Burns Unit refurbishment (£1.3 million) and one month’s slippage for RVI MSCP (£2.7 million) The Cash balance at the end of September 2016 is £98.2 million; £4.5 million lower than Plan owing mainly due to an increased level of accrued income for which invoices will soon be raised. 4. RECOMMENDATION To receive and acknowledge the overall financial position for the period to 30th September 2016. Angela Dragone Finance Director 21st October 2016
A6_Month_6_Financial_Report.docx