Finances

Financial review

2016/17 was another strong year for the Trust financially - achieving a £2.051m surplus against income of £81.9m.

This was the 18th year the Trust has consecutively achieved a surplus position and exceeds the legal requirement to breakeven by delivering a 2.5% surplus. This reflects the hard work and dedication from all of our staff to ensure we deliver quality services in an efficient and effective way. Good financial management is vital for the success of the organisation and to deliver high quality care for our patients and people who need our services.

	2016/17 £000s	2015/16 £000s
Income	81,883	78,588
Expenditure	(79,398)	(75,878)
Operating surplus	2,485	2,710
Net finance costs	(1,734)	(1,920)
Retained surplus for the year	751	790
IFRIC 12 and Impairments	1,300	507
Adjusted retained surplus	2.051	1,297

We are pleased to report that our financial results for 2016/17 were better than our plan by £651,000 (including £604,000 Sustainability and Transfomation Funding (STF) not included in the plan). This is against the backdrop of a ‘tightening of the public purse’ and a recurrent achievement of our Cost Improvement Programme (CIP) of 93%.

Further information on our Financial Performance is contained in our Annual Report - available here

Expenditure over £25,000

In accordance with the government’s commitment to greater transparency, the Trust is required to publish online expenditure over £25,000. Expenditure, for the purposes of this exercise, is all individual invoices, grant payments, expense payments or other such transactions that are over £25,000. Certain expenditure, such as that related to the Trust's payroll and money administered on behalf of clients, is excluded from the scope of these disclosures.

The Trust will publish expenditure over £25,000 on a monthly basis, as stipulated by HM Treasury.

To see the expenditure over £25,000 reports for 2018, please click here

Data inclusions

The Trust has included the following within the files showing the expenditure data:

Name of Department (the Department of Health being the Trust’s ‘parent’ department)
The name of the Trust (North Staffordshire Combined Healthcare NHS Trust)
The Payment date as recorded within the Trust’s Purchase Ledger
The Description of the Expenditure (expense type)
The area within the Trust that has spent the money (expense area)
The full name of the supplier
A reference number for each individual expenditure transaction
The value of the transaction

Link to HM Government website

Further information regarding the expenditure of government departments can be found on the HM Government website here.