FY15-16 Plan UpdateApril 2015

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Financial Plan FY15-16 Update

Draft Financial Plan FY15-16 submitted 7th April (3 page narrative + summary financial statements + I&E bridge analysis attached)

Based on planning assumptions reviewed at TEG / FRC / Board (Dec – Mar)

Version agreed at March FRC updated for latest contract offers received NHSE / CCG (31st March) post meeting

Key risk is additional capacity funding (TEG 15th April) - TEG / FRC / Board assumption of nil impact to surplus (additional income / cost reduction)

I&E highlights: £0.2m surplus, £7.0m CIP, £3.7m contingency, COSR 3

www.sheffieldchildrens.nhs.uk

Financial Plan FY15-16

Monitor figures based on weighted average input costs

Trust marginally higher gross tariff deflator (worse income deflation driven by CNST affected HRG prices not offset by better cost deflation linked to higher un-earmarked contingency)

Trust Monitor Variance% % %

Net income deflator (1.32) (1.10) (0.22)

Overall cost inflation 2.10 2.24 0.14

Gross tariff deflator (3.42) (3.34) (0.08)