Caring, Safe and Excellent Financial Report August 2023
The August 2023 financial report provides a comprehensive overview of the Trust's financial status, highlighting a surplus in income and expenditure. The report discusses forecasts, risks, opportunities, capital investment programs, agency analysis, and improvement plans. Key figures include a 1.6m surplus in the income statement and a 84.5m cash balance. Various directorates are analyzed for variances, with a focus on agency spend reduction targets and savings made so far. Despite some challenges, the Trust remains in a strong financial position with potential for improvement.
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Caring, safe and excellent For Information Finance Report August 2023 (Month 5), FY24 Report to Board of Directors Contents Executive Summary 1. Income Statement 2. Forecast Movement from Previous Month 3. Forecast Risks & Opportunities 4. Capital Investment Programme 5. Directorate Financial Performance Summary 6. Pay Trends 7. Agency Analysis 8. Non-Pay Expenditure analysis 9. Out of Area Placements 10. Cost Improvement Plan 11. Productivity Improvement Plan 12. Statement of Position 13. Cash-flow 14. Working Capital Indicators A risk assessment has been undertaken around the legal issues that this paper presents and there are no issues that need to be referred to the Trust Solicitors. 1
Caring, safe and excellent Executive Summary Capital Expenditure YTD - 3.0m better than plan Forecast - 0.9m worse than funding available Income & Expenditure position YTD - 0.3m better than plan Forecast 0.1m better than plan Risks 14.5m Opportunities 17.8m Net 3.3m upside Cash Actual 84.5m, 9.5m better than plan Highlights: The Month 5 Income and Expenditure YTD position is a surplus of 1.6m, 0.3m favourable to plan. The forecast is a surplus of 3.2m, 0.1m favourable to plan. Since the reporting of the month 5 financial position, revised figures for agency spend have been confirmed as 2.1m lower than in the month 5 YTD figures. For month 6 this will feed through into the YTD position and the forecast will be revised. This is likely to improve the Trust s forecast position and this is reflected as one of the high likelihood opportunities to the forecast in this report. (see slide 12) There are 14.5m of risks and 17.8m of opportunities to the forecast. This gives a forecast range of between 17.9m better than plan and 14.5m worse than plan. Taking into account only those risks and opportunities assessed as high likelihood there is a forecast range of between 7.7m better than plan and 1.4m worse than plan. The Directorates forecasting adverse variances to budget are: Forensic Mental Health 1.6m, Learning Disabilities 1.8m, Provider Collaboratives 0.5m, Primary, Community and Dental Care 1.0m, Buckinghamshire Mental Health 0.6m and Block Income 2.3m. These are offset by 4.6m favourable variance in Reserves a 0.9m favourable variance in Corporate and a 1.5m favourable variance across other Directorates. Using the revised figures at month 5 15.2m has been spent on agency staff, which is 10.2% of total staff costs. The forecast agency spend is 34.6m, 2.4m above target. This includes the effect of spend reduction targets in the ID Medical contract. 4.8m of the 7.2m CIP target has been delivered so far. Further work is needed to identify schemes for the remaining 2.4m. The Trust has a 11.0m PIP target to be met through a reduction in temporary staffing spend. 3.7m of savings have been made so far. Capital expenditure is reporting a 3.0m underspend YTD. The forecast is for a 0.9m overspend against the funding available. Cash remains strong with a cash balance of 84.5m. 2
Caring, safe and excellent 1. Income Statement INCOME STATEMENT Month 5 Year-to-date Forecast Plan m 42.3 7.3 49.6 30.4 17.6 48.0 1.6 1.3 0.3 0.0 0.3 Actual m 42.8 Variance Plan m 211.5 36.1 247.6 151.5 88.1 239.6 8.0 6.6 1.4 (0.0) 1.3 Actual m 213.2 40.3 253.5 150.5 95.0 245.6 Variance Plan m 505.7 87.9 593.6 362.8 211.7 574.5 19.1 15.9 3.2 (0.1) 3.2 Forecast Variance m 0.5 0.6 1.1 0.5 (1.5) (1.0) 0.1 0.2 0.3 0.0 0.3 m 1.7 4.2 5.9 1.0 (7.0) (5.9) 0.0 0.3 0.3 (0.0) 0.3 m 511.1 94.2 605.3 363.4 223.5 586.9 18.5 15.2 3.3 (0.1) 3.2 (0.1) 3.1 m 5.4 6.4 11.8 (0.5) (11.9) (12.4) (0.7) 0.7 0.1 (0.0) 0.1 (0.1) (0.0) Clinical Income Other Operating Income Operating Income, Total Employee Benefit Expenses (Pay) Other Operating Expenses Operating Expenses, Total EBITDA Financing costs Surplus/ (Deficit) Adjustments Adjusted Forecast Surplus/ (Deficit) Gap between internal and external forecasts Forecast Surplus/ (Deficit) 7.9 50.7 29.9 19.1 49.0 1.7 1.2 0.6 0.0 0.6 8.0 6.3 1.7 (0.0) 1.6 3.2 Year-to-Date Performance The month 5 YTD position is a surplus of 1.6m, 0.3m favourable to plan. The favourable variance on income ( 5.9m) is made up of 1.3m on Provider Collaboratives offsetting additional expenditure, 1.0m higher sales in Oxford Pharmacy Store, 0.9m additional income in Research & Development, 0.7m Childrens Continuing Healthcare additional income for risk share (offset with expenditure), 0.7m for various projects in the Nursing & Clinical Standards directorate, 0.6m in Learning and Development, 0.4m for education and training income in clinical directorates where budget needs to be set and 0.3m income for Covid vaccinations. The adverse variance on expenditure ( 5.9m) is made up of 1.4m in Provider Collaboratives (offset with income), 1.3m overspends in Estates & Facilities, 1.1m overspend on Mental Health out of area placements, 0.9m higher cost of sales in Oxford Pharmacy Store, 0.7m in Children's Continuing Healthcare for which risk share income is received, 0.7m in Research and Development funded by additional income, a 0.7m overspend on Learning Disabilities out of area placements, 0.4m in Learning & Development (offset with income), and 0.2m for Covid vaccinations (offset with income). These are offset with a 0.9m favourable variance on pay due to vacancies and a 0.6m net favourable variance in other areas including contingency reserves. 3
Caring, safe and excellent 2. Forecast movement from previous month The month 5 forecast improved by 1.6m from the forecast at month 4 and the graph above illustrates the main movements. The majority of this improvement ( 1.2m) was due to including costs and income relating to the Medical pay award this month. The Trust benefits from the tariff uplift for this because of the lower proportion of Medical staff than Acute providers and because of the high number of vacancies for doctors. The Trust s plan includes 2.0m of released deferred income in Provider Collaboratives to fund capital spend. So far only 1.1m of this has been agreed by the Forensics Provider Collaborative Board. The forecast has been adjusted to reflect this with the remaining 0.9m listed as an opportunity for improving the forecast. 4
Caring, safe and excellent 3. Forecast Risks & Opportunities Risks New assumptions for Digital & Transformation '000 Likelihood 1,500 The Trust s Forecast Outturn is for a 3.2 surplus, which is 0.1m better than plan. High S117 spend Contracting issues with BOB ICS Winter pressures Capital to revenue transfer Increase in OAPs 2,200 1,606 1,500 1,000 830 Medium Medium Medium Medium Medium There are 14.5m of risks and 17.8m of opportunities to the forecast. This gives a forecast range of between 17.9m better than plan and 14.5m worse than plan. Taking into account only those risks and opportunities assessed as high likelihood there is a forecast range of between 7.7m better than plan and 1.4m worse than plan. Annual leave buy back accrual Income risks Additional spend against Deferred Income Balance Sheet/Audit Income risks Microsoft Licenses Additional LD OAPs 300 250 200 3,000 1,400 500 250 14,536 Medium Medium Medium Low Low Low Low The agency opportunity is made up of 4.6m revised forecast as a result of the correction of YTD values which will happen in month 6 and 2.1m of expected reduction in spend from interventions from ID Medical. The Trust is expecting 3.7m of additional income from the BOB ICS but this has yet to be agreed. 1.6m of this is already in the forecast so is a risk if it is not agreed while the rest is an opportunity. Opportunities Agency reduction Wellbeing Day Contracting issues with BOB ICS Additional income AL provision Additional release of PC deferred income Agreement on old NHS PS invoices Discharge of LD OAPs patients MHIS investment spend less than forecast Reduction in OAPs Balance Sheet/Audit '000 Likelihood 6,656 990 2,061 1,850 939 900 733 250 240 200 3,000 17,819 High High 3.0m has been included as a risk and opportunity for any requirement to adjust balance sheet values with an effect on the revenue position. Medium Medium Medium Medium Medium Medium Medium Medium Low Forecast range - high likelihood risks and opportunities Forecast range - all risks and opportunities Forecast Outturn to Plan 7,700 -1,446 Forecast Outturn to Plan 17,874 -14,482 Full Year Actual Full Year Actual Full Year Budget Full Year Budget '000 '000 Upside Forecast Downside Forecast 3,168 3,168 10,868 1,722 Upside Forecast Downside Forecast 3,168 3,168 21,042 -11,314 5
Caring, safe and excellent 4. Capital Investment Programme The Trust spent 4,151k on its capital programme in the first 5 months of the year against a year-to date expenditure budget of 7,118k, an underspend of 2,966k. The Trust has a forecast outturn of 17,923k, which represents an overspend against plan of ( 204k) and a funding deficit of ( 859k). It is likely that this position will be mitigated by slippage, and the ICB also have additional capital available. However, plans are in place to mitigate this cost pressure by deferring projects if needed. 6
Caring, safe and excellent 5. Directorate Financial Performance Summary Month 5 Year-to-date Forecast Plan m (9.3) (4.4) (2.5) (0.5) 0.9 (15.8) (8.1) (6.1) 0.0 (0.1) 0.0 (0.5) 32.0 1.6 Actual m (9.0) (4.4) (2.6) (0.8) Variance Plan m (46.6) (21.7) (12.7) (2.4) 4.7 (78.7) (41.9) (30.2) 0.1 (0.4) (0.0) (2.3) 161.4 8.0 Actual m (45.7) (22.0) (13.4) (2.9) Variance Plan m (112.3) (52.1) (30.5) (5.7) 11.3 (189.4) (98.8) (73.0) Forecast Variance Directorate Oxfordshire & BSW Mental Health Buckinghamshire Mental Health Forensic Mental Health Learning Disabilities Provider Collaboratives MH Directorates Total Community Services Corporate Oxford Pharmacy Store Research & Development Covid-19 Costs Reserves Block Income EBITDA m 0.4 (0.1) (0.1) (0.3) (0.2) (0.3) 0.2 0.0 0.0 (0.0) (0.0) 0.6 (0.6) (0.1) m 1.0 (0.3) (0.7) (0.5) (0.1) (0.6) 0.1 (0.5) 0.1 0.3 0.0 1.5 (0.9) 0.0 m m 0.8 (0.6) (1.6) (1.8) (0.5) (3.6) (1.0) 0.9 0.5 0.3 0.0 4.6 (2.3) (0.7) (111.5) (52.7) (32.1) (7.5) 10.8 (193.0) (99.8) (72.2) 0.8 4.6 (16.1) (7.9) (5.8) 0.0 (0.1) (0.0) 0.1 31.5 1.7 (79.3) (41.8) (30.7) 0.2 (0.1) 0.0 (0.8) 160.4 8.0 0.4 (0.9) (0.0) (4.5) 385.3 19.1 0.8 (0.6) 0.0 0.1 383.1 18.5 Block contract income is reported in a separate directorate. Clinical Directorate positions reflect the expenditure position less non-clinical income (mainly Education & Training income) and some specific income streams such as Sustainability & Development Funding (SDF). The forecast overspend on Provider Collaboratives (PCs) relates to the Adult Eating Disorders PC. The Secure and CAMHS PCs are forecasting underspends but the forecast for the Trust position is on plan as it is assumed that the underspends will be carried forward into next year for re-investment. 7
Caring, safe and excellent 6. Pay Trends The increase in pay costs and budget in September 2021 and September 2022 reflect when the pay award was paid to staff along with back pay. The increased costs in March 2022 reflect year-end accounting adjustments for pension costs The increase in costs in March 2023 again reflect year-end accounting adjustments for pension costs and also an accrual for the government proposed back-dated non-consolidated pay award. The 2023-24 pay award was paid in June 2023 and budgets and substantive costs include 3 months' worth of costs in month. The Agency costs in these graphs do not yet reflect the revised YTD agency figures. 8
Caring, safe and excellent Bank costs have increased in Forensics in August due to high acuity Agency costs have increased significantly in Learning Disabilities due to the costs associated with one patient on 10:1 observations. 10
Caring, safe and excellent 7. Agency Analysis The graphs above reflect the figures reported in the Finance ledger at month 5 which is a total agency spend YTD of 17.4m. However, since the ledger position was finalised, ID Medical have provided more accurate information on agency spend. Finance have been through these figures and confirmed that these are more accurate than the figures reported in the ledger. The difference is a reduction in YTD agency spend of 2.1m. 1.0m of this is a reduction for April July due to updated hourly pay rates (hours have not changed). For August Finance did not have any information to use for accruals (due to the change to ID Medical) therefore used YTD average plus a 10% contingency with a view to correcting to accurate data for month 6. The actual spend in August is 1.0m lower. Using these revised figures, at month 5 15.2m has been spent on agency staff, which is 10.2% of total staff costs. This includes 0.5m to support one patient on 10:1 observations. These figures and the graphs above now include agency spend related to Covid vaccinations from April, but the figures from previous years still exclude this spend. The Trust s agency target set by NHS England for FY24 is 32.2m. Using the revised YTD figures and reflecting the target reduction in spend in the ID Medical contract, the forecast agency spend is 34.6m, 2.4m above target. 1.8m of the forecast spend relates to the one patient on 10:1 observations. 12
Caring, safe and excellent 8. Non-Pay Expenditure Analysis '000s Category of Spend Clinical Supplies & Services Drugs Establishment General Supplies And Services Other Oxford Pharmacy Store Cost of Sales Premises Provider Collaborative Contracts Purchase of Services R&D non-staff costs Reserves Transport Month 5 Year-to-Date Budget Actual Variance % Variance -205 -80 -331 -56 1,136 -114 -676 -219 -384 -1,216 642 -25 -1,527 Budget Actual 10,223 2,106 4,627 1,582 9,088 16,914 8,269 29,864 5,259 4,606 Variance % Variance -2,199 -359 -734 -125 1,179 -1,377 -3,041 -1,031 -1,022 -1,531 3,198 79 -6,962 1,717 349 777 284 1,918 3,111 1,046 5,767 847 620 642 515 17,593 1,922 429 1,107 340 782 3,225 1,721 5,985 1,232 1,836 -12% -23% -43% -20% 59% -4% -65% -4% -45% -196% 100% -5% -9% 8,023 1,747 3,893 1,457 10,268 15,537 5,228 28,833 4,237 3,075 3,198 2,584 88,081 -27% -21% -19% -9% 11% -9% -58% -4% -24% -50% 100% 3% -8% 0 0 540 2,505 95,043 19,120 Clinical Supplies & Services are overspent by 2.2m YTD driven by 0.7m in Childrens Continuing Care (offset by additional income), 0.6m for out of area placements in Learning Disabilities and 0.2m for beds in Community Hospitals (agreed as spend in FY23 but they did not arrive until July) with the remainder made up of smaller variances across other areas. The overspend on Drugs costs is made up of small overspends across all clinical areas. The overspend on Establishment costs is driven by IT related costs in services e.g. software licenses fees and purchase of IT hardware. The overspend on Oxford Pharmacy Store Cost of Sales is offset by additional sales income. The overspend on Premises costs is driven by Estates & Facilities costs due to pressures on the South Central Ambulance contract, contracts and property costs. The overspend on Provider Collaboratives contracts is offset by a favourable variance on income. Purchase of Services is overspent by 1.0m YTD driven by Mental Health Out of Area Placement costs - 0.7m overspent in Oxfordshire and 0.5m overspend in Buckinghamshire. This is offset by 0.2m extra package of care income in Forensics (shown as non-pay as it is a transfer from Provider Collaboratives). R&D non-staff costs are the costs invoiced by partner organisations and the overspend is offset with a favourable variance on income. The Reserves budget is the contingency held by the Trust to offset pressures elsewhere. 13
Caring, safe and excellent 9. Out of Area Placements (OAPs) OAPS Budget Vs Actuals Out of Area Placements are 1.1m adverse at month 5 592k adverse in Oxfordshire and 524k adverse in Buckinghamshire. 800,000 This includes the cost of the 4 block beds contract with Elysium. These costs exclude Secure Transport spend which is currently 58k across the two directorates. 700,000 600,000 Cost have started to decrease in Month 5 due to multiple discharges and low admissions across the directorates. 500,000 400,000 Actual Cost Budget 300,000 200,000 100,000 0 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 2022 2023 2024 14
Caring, safe and excellent Oxon & Bucks OAPS Spend by bed type The above graphs show a sharp increase in month 1 of FY23. This is due to allocations of costs prior to FY23 being reclaimed from national COVID funding. Oxfordshire s FY23 month 4 decrease was due to the release of an FY21 provision. The sharp decrease in Buckinghamshire in FY23 month 8 was also due to a release of an old year provision. In Month 5 Oxon has reduced their Acute Beds from 10 at the end of July to 5 at the end of August, Oxon PICU placements have also reduced from 3 in July to 1 in August. Other placements remain steady. Bucks Acute Bed days have decreased from 8 at the end of July to 5 at the end of August however, they have high Observations charges coming through on their Acute placements. At the end of August Oxfordshire have 5 Acute, 1 PICU, 4 Rehab, 1 Specialist Care Placement & 1 Continuing Care patients still out & Buckinghamshire have 5 Acute, 2 PICU & 1 Rehab patient still out of area. 15
Caring, safe and excellent 10. . Cost Improvement Programme (CIP) The Trust s external CIP target as reported to NHSE is 16.1m made up of a 5.1m efficiency from contract uplifts (CIP) and 11.0m cost management (Productivity Improvement Programme (PIP)). The Trust continues to report a forecast full delivery of the 16.1m to NHS England on the assumption that any shortfall in these programmes will be mitigated by other non-recurrent benefits in the Trust s position. Internally the Trust has an additional 2.1m CIP for FY23 CIPs that were not delivered recurrently last year, making the total internal CIP target 7.2m. 4.8m of the 7.2m CIP target has been delivered so far through CIPs made up front from investment funding and a 1.0m saving in HR from the Temporary Staffing team following the transfer to NHSP. Further work is needed to identify schemes for the remaining 2.4m. '000s Community Oxon & BSW MH Bucks MH Forensics Learning Disabilities Provider Collaboratives Corporate NHSP transfer (internal bank team costs) Total CIP YTD Plan YTD Actual YTD Variance 807 741 335 256 44 12 395 417 3,007 2,008 Full Year Plan Forecast Forecast Variance 1,937 1,000 1,778 1,373 803 803 615 615 106 29 948 1,000 1,000 7,216 4,820 417 572 335 256 -390 -169 -937 -405 0 0 0 0 0 -44 0 -106 12 0 417 0 29 0 0 -395 -948 0 0 -998 -2,396 16
Caring, safe and excellent 11. . Productivity Improvement Programme (PIP) The 11.0m PIP target is to be met through a reduction in temporary staffing spend including the cost reduction from moving from agency to bank staff as well as a reduction in demand for temporary staffing. This is being calculated as the YTD reduction in spend between FY23 and FY24 (excluding the Covid mass vaccination centre spend). At month 4 3.7m of savings have been made, which is 0.9m lower than the YTD target. These figures take into account the revised YTD agency figures. The forecast spend is 8.9m lower than FY23 spend which is 2.1m below the target. This shortfall is being offset by vacancies. The performance against the PIP target is different to the performance against the agency spend target. For the latter any reduction in agency spend counts towards this target. For the PIP target it is only reduction in agency spend which results in an overall cost saving to the Trust that can be regarded as a PIP saving. For example, if the same number of hours move from agency to bank there will be a saving against both targets. But, if spend moves to bank and demand increases then there won t be a reduction in costs so no PIP savings. Full Year Actual/Forecast '000s FY23 Bank FY23 Agency Total FY23 M1 M2 M3 M4 M5 2,135 3,920 6,055 YTD 2,463 4,322 6,785 2,008 3,417 5,425 2,218 2,803 5,041 3,681 7,259 6,484 11,627 20,381 32,008 29,627 44,761 74,388 FY24 Bank FY24 Agency Total FY24 2,946 2,922 5,868 2,390 3,253 5,643 2,542 2,493 3,351 3,127 5,893 5,620 2,667 2,594 5,261 13,038 15,247 28,285 30,916 34,575 65,491 Savings Target Variance 917 920 -3 -218 920 -1,138 1,366 920 446 864 920 -56 794 920 -126 3,723 4,601 -878 8,897 11,043 -2,146 17
Caring, safe and excellent 12. Statement of Financial Position Statement of Financial Position as at 31st August 2023 31 March 2023 Movement Month 4 FY24 Month 5 FY24 Year to date '000 In month '000 '000 '000 '000 1. Non-current assets have decreased by ( 1.6m) in-year. The decrease is due to a cumulative depreciation charge of ( 5.8m), offset by additions of 4.2m. Non-current assets Intangible Assets Property, plant and equipment Finance Leases Investments Trade and other receivables Other Assets Total non-current assets 4,977 215,796 30,850 1,125 5,620 214,870 28,806 1,125 5,967 215,579 28,447 1,125 990 347 709 2. Inventories have decreased by 0.7m in year and in-month following the sale of contingency stock built up over the year-end (216) (2,402) (359) 0 7 0 0 0 3. Trade and other receivables decreased by 12.1m in year and increased by 4.6m in month. Most of the decrease in-year is due to a decrease in outstanding debt of 8.9m and accrued income of 4.1m. The increase in month is due to an increase in accrued income of 3.3m, trade debtors of 0.9m and VAT receivables of 0.9m. 512 485 519 485 519 485 (0) 253,745 251,426 252,123 (1,622) 697 Current Assets Inventories Trade and other receivables Non-current assets held for sale Cash and cash equivalents Total current assets 2,932 35,214 840 74,610 113,596 2,941 18,498 840 84,616 106,895 2,196 23,114 840 84,458 110,608 (736) (745) 4,616 4. The cash balance has increased by 9.8m over the year and decreased by 0.2m in month. These increases are mainly driven by an increase in cash generated from operations, mainly from a decrease in trade and other receivables referred to in note 2. above. (12,100) 0 0 9,848 (2,988) (158) 3,713 Current Liabilities Trade and other payables Borrowings Finance Leases Provisions Deferred income Total Current Liabilities 5. Trade and other payables have decreased by 4.6m in year and increased by 5.3m in month. The decrease in-year is largely due to a decrease in trade payable and accrued expenditure, whereas the increase in-month is largely due to an increase in trade payables and accrued expenditure. (83,398) (2,019) (5,374) (2,249) (23,002) (116,042) (75,390) (2,217) (5,353) (2,162) (23,566) (108,688) (112,942) (78,782) (2,267) (5,352) (2,219) (24,323) 4,616 (248) (3,392) (50) 23 30 1 (56) (757) (4,253) (1,321) 3,101 6. Deferred income has decreased by 1.3m in year and 0.8m in-month. Non-current Liabilities Borrowings Finance Leases Provisions Total non-current liabilities Total assets employed 7. The Trust s long term finance lease liabilities have decreased by 2.8m in-year and 0.3m in month in line with capital repayments. (14,640) (19,982) (6,085) (40,706) 210,592 (14,421) (17,512) (6,127) (38,060) 211,573 (14,366) (17,180) (5,997) (37,543) 212,246 274 2,801 55 332 130 517 673 88 8. The in-month and in-year movements in the I&E reserve reflects the Trust s reported surplus positions for the same time periods. 3,163 1,654 Financed by (taxpayers' equity) Public Dividend Capital Revaluation reserve Other reserves Income & expenditure reserve 109,631 82,587 1,125 17,250 109,631 82,479 1,125 18,338 109,631 82,589 1,125 18,901 1 2 0 0 110 0 1,652 564 210,592 Total taxpayers' equity 211,573 212,246 1,654 674 18
Caring, safe and excellent 13. Cash Flow STATEMENT OF YEAR TO DATE CASH FLOWS Summary Notes Month 5 FY24 Actual '000 Plan '000 Variance '000 The cash flow movements are consistent with the comments made on the Statement of Financial Position. Cash flows from operating activities Operating surplus/(deficit) from continuing operations Operating surplus/(deficit) The closing cash position at the end of August was 84.5m. 2,198 2,198 362 362 1,836 1,836 Non-cash income and expense: Depreciation and amortisation (Increase)/Decrease in Trade and Other Receivables (Increase)/Decrease in Inventories Increase/(Decrease) in Trade and Other Payables Increase/(Decrease) in Deferred Income Increase/(Decrease) in Provisions NET CASH GENERATED FROM/(USED IN) OPERATIONS 5,771 12,008 736 (5,277) 1,321 (120) 16,638 5,975 3,733 245 (3,697) (76) 151 6,692 (204) 8,275 491 (1,580) 1,397 (270) 9,945 Cash flows from investing activities Interest received Purchase of Non Current Assets Net cash generated from/(used in) investing activities 1,937 (5,209) (3,271) 1,661 (5,411) (3,751) 277 202 479 Cash flows from financing activities Capital element of lease rental payments Capital element of Private Finance Initiative Obligations Interest element on leases Interest element of Private Finance Initiative obligations Net cash generated from/(used in) financing activities (2,814) (164) (81) (458) (3,518) (2,055) (150) (105) (241) (2,551) (759) (14) 24 (217) (967) 9,849 74,610 84,458 391 9,458 Increase/(decrease) in cash and cash equivalents Cash and Cash equivalents at 1st April Cash and Cash equivalents at 31st August 74,610 75,001 0 9,458 19
Caring, safe and excellent 14. Working Capital Indicators Working Capital Ratios Ratio Target Actual Risk Status Debtor Days 30 19 Debtors % > 90 days 5.0% 10.3% Creditor Days 30 47 BPPC NHS - Value of Inv's pd within target (ytd) 95.0% 95.7% BPPC Non-NHS - Value of Inv's pd within target (ytd) 95.0% 94.5% Cash ( m) 75.0 84.5 Summary Notes Debtor days are ahead of target. Debtors % over 90 days is below target, due to unpaid invoices. These are mainly Provider Collaboratives 276k, Various ICB s 156k, Salary overpayments 302k, NHS Property Services 154k, HEE ( 829k), NHSE 144k and other 448k. Creditor days are below target due to high accrual levels. NHS BPPC (Better Payments Practice Code) is above target (and 91.8% in Aug) Non-NHS BPPC (Better Payments Practice Code) is broadly on target (and 96.5% in Aug) Cash is better than plan, as outlined in section 9. 20
