Summary fi nancial performance
The Trust made an operati ng defi cit of £3.8 million in 2017/18, and did not meet the fi nancial control total set by NHS Improvement as a target fi nancial performance for the year. As a result, the Trust did not achieve the conditi ons for the payment of Sustainability and Transformati on Funding (STF) in Quarter 4, but did meet the fi nancial conditi ons for payments in earlier quarters.
The Trust’s fi nancial performance was driven by our clinical acti vity. The Trust’s income from non-electi ve, unplanned care of our pati ents, was signifi cantly above our esti mati ons for the year, exceeding our plan by more than £8 million. However, the additi onal care created signifi cant operati onal pressures, and the Trust had to bring in more temporary staff than planned to meet the pati ent demand. The Trust did not achieve the intended level of income or acti vity for our electi ve, planned care, with income being £6 million lower than budget. This was partly a refl ecti on of the pressures caused on our services by the increase in unplanned care.
Salary expenditure was £11 million higher than budgeted (+5%) and £15 million (+6%) higher than in 2016/17. The unprecedented levels of demand for unplanned care increased our need for temporary staff and meant that the Trust could not reduce capacity in the summer months and thereby reduce demand for temporary staff sti ll further.
The Trust ended the year with £7.8 million of cash. During the year, the Trust completed the work on the Overton Ward (additi onal 28 beds) and the new ward opened in December 2017. The Trust also undertook major works in our Emergency Department in Basingstoke to allow more eff ecti ve streaming of pati ents to a GP service and increase capacity for ambulatory care. The Trust gained the support of NHS Digital to enter the Global Digital Exemplar programme, and this will support work to digiti se records and develop processes across the Trust in the future.
Annual Review 2017/18 | 19
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