Shropshire NHS trust set to smash financial targets
A Shropshire community health trust is on track to smash its financial targets this year after saving more than planned, a meeting heard.
Chiefs on the board of Shropshire Community Health NHS Trust were given an update at a recent meeting.
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Sarah Lloyd, Shropcom’s chief finance officer, reported to the board meeting on Thursday (Feb 5) that the trust is ahead of its cost improvement plan to save £5.359 million.
Ms Lloyd told the meeting at Theatre Severn in Shrewsbury that the trust is looking to finish the financial year by having a ‘surplus’ more than planned last April. Surpluses are held for future years.
Shropcom provides a range of community-based health services for adults and children in Shropshire, Telford and Wrekin, and some services to people in surrounding areas. It includes district nurses, health visitors physiotherapy and specialist community clinics.
Ms Lloyd told the meeting that the level of risks to its plans are reducing.
“Identified financial risks are currently mitigated, and the level of risk is reducing,” her report read.
“The revenue forecast remains £2m surplus, in line with the agreed plan, however it was noted that it is likely we will exceed this target.”
The trust’s pay bill has been reduced by some £620,000 due mainly to job vacancies.
This has helped the trust pay anticipated total bills of £200,000 more than planned for agency workers and £1million more on bank staff.
The board was told that at December the trust was able to report all financial risks are fully mitigated and the level of financial risk has further reduced.
“We are forecasting to deliver our planned surplus of £2m, however we are looking at opportunities which will allow us to exceed this level of surplus given our year to date favourable variance to plan,” Ms Lloyd’s report read.
Other members of the board welcomed the report.
