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ITEM 2 East and North Herts Hospitals NHS Trust Presentation Historical financial challenge Previous financial performance had not been good, but recovery now achieved. Financial Recovery – 2006/07 SHA set target deficit at £8m – tightened to £7.5m in November 2006

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Historical financial challenge


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historical financial challenge

ITEM 2 East and North Herts Hospitals NHS Trust Presentation

Historical financial challenge
  • Previous financial performance had not been good, but recovery now achieved.
financial recovery 2006 07
Financial Recovery – 2006/07
  • SHA set target deficit at £8m – tightened to £7.5m in November 2006
  • Trust had to achieve £9.5m savings out of total £275m budget
    • £175m pay
    • £100m non-pay
  • Savings equalled 3.5% of budget in-year
delivering the 2006 07 challenge
Delivering the 2006/07 challenge
  • Ended 2006/07 with £1.5m deficit - £6.0m better than target
  • Savings plans delivered £13.8m, plus further technical adjustments of £2.2m
  • £22.4m historical debt recalibrated through national review
    • Acknowledged Hertfordshire health economy had reduced spend already by this amount
  • Historical debt to be repaid now £1.5m
financial prospects for 2007 08
Financial Prospects for 2007/08
  • Plan is to deliver £4.5m surplus
  • Assumes further savings of £10.6m in-year
  • If £4.5m surplus achieved at year-end:
    • Repays £1.5m historical debt
    • Improves Trust’s cash position
    • Provides firm basis moving forward
    • Allows £2.5m carry forward into 2008/09
financial prospects for 2008 09
Financial prospects for 2008/09
  • Plan is to deliver £2m surplus
  • New service developments will include:
    • Investment in nursing staff - £2m
    • Investment in HCAI - £1.7m
    • Introduction Bowel Cancer Screening
    • Delivery 18 weeks wait times