Public Board of Directors papers 27.01.22

5. Well-Led

5.1 - Finance (Executive Summary)

This report outlines the consolidated financial performance of The Christie NHS Foundation Trust and its wholly owned subsidiary The Christie Pharmacy Ltd.

YTD Budget YTD Actual

Variance

£'000

£'000

£'000 (443)

NHS Clinical - Block Contract Income

(233,234) (6,044) (12,945) (4,781) (38,791) (295,794) 128,578 74,430 62,202 265,209 (30,585) (4,357) 25,713 (9,229) (6,000) 12,945

(233,676) (5,864) (14,957) (5,996) (41,742) (302,236) 121,756 75,568 67,122 264,447 (37,789) (2,309) 23,355 (16,743) (3,375) 14,957

NHS Clinical Income

180

Charitably funded capital donations

(2,013) (1,215) (2,951) (6,442) (6,822)

Donated CEF grant income Other non clinical income

Exchequer Cash Balances 2021-22

Income

£175,000

Pay

Drugs

1,138 4,921 (763)

£150,000

Other non pay

Total expenditure

£125,000

EBITDA

(7,204)

Non operating income Non operating expenditure

2,048

£100,000

Cash balances

(2,358) (7,514) 2,625

£'000

£75,000

(Surplus) / Deficit Exclude impairments

£50,000

Exclude charitably funded capital donations Exclude donated CEF grant income

2,013 1,215

4,781

5,996

£25,000

Exclude donated depreciation

(2,498)

(2,498) (1,662)

0

Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22

Adjusted financial performance (surplus) / deficit

(0)

(1,662)

I&E • The trust position as at month 9 is a year to date surplus of £1.662m (in month surplus of £11k against an agreed nil balance control total for the year which reflects the new GM financial arrangements in place for M1-12). • The month 9 EBITDA position is a surplus of £37.789m • The month 9 I&E surplus is £16.743m, prior to adjusting for donated depreciation, charitably funded capital donations, donated grant income and impairments. • Month 1- 9 CIP has been achieved through underspends on pay within divisions. Balance sheet / liquidity • The cash balance is £156,590k. • Debtor days remained at 8 days in line with the previous month. • Capital expenditure is 94.9% of the NHSI plan & 97.5% of the reduced £2.5m NHSI plan. Other • In line with the contractual arrangements, the Trust received the first £2,492k generated by TCPC in 2020-21 financial year. The Trust is therefore is not guaranteed to receive further profits until January 2022. However, TCPC has now generated sufficient profits to trigger additional distributable profits in 2021. In TCPC’s accounts this has generated £597k additional distributable profit, which is reflected in the Trust’s December position. • 30 day PSPP is at 97% for trade and 91% NHS.

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