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Financial Plan 2008-09 Board Meeting – 8 April 2008 Russell Favager Director of Finance

Financial Plan 2008-09 Board Meeting – 8 April 2008 Russell Favager Director of Finance. Quick Recap. Headlines Operating Framework 5.46% flat increase 1 Year Allocation only 2.3% Tariff (inflation) Uplift 0.53% Specialist Commissioning. Sources of Funding for 2008-09.

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Financial Plan 2008-09 Board Meeting – 8 April 2008 Russell Favager Director of Finance

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  1. Financial Plan 2008-09 Board Meeting – 8 April 2008 Russell Favager Director of Finance

  2. Quick Recap Headlines Operating Framework • 5.46% flat increase • 1 Year Allocation only • 2.3% Tariff (inflation) Uplift • 0.53% Specialist Commissioning

  3. Sources of Funding for 2008-09 New Growth (5.46%) £27.3m B/Forward recurrent Surplus £12.1m ---------- Total “new” Monies available £39.4m ======

  4. Application of Growth Funding Cost & 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

  5. Summary of Planned 2008-09 Position Resources Available £39.4m Funding Committed £36.6m --------- Potential Surplus £2.8m ======

  6. 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

  7. Expenditure Profile Commissioning Strategy

  8. Savings Scenarios from Commissioning Strategy

  9. 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

  10. Budget £’000 Capital Programme

  11. 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

  12. Any Questions?

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