This department is led by: Lee Outhwaite, Director of Finance & Contracting
The prime role of the Finance department is to enable the Trust to achieve its key national and local targets whilst maintaining financial stability.
The Trust has four financial duties which the Finance directorate has a lead role in ensuring their compliance, these are:-
- Achieve a balanced income and expenditure position Achieve a 6% absorption rate on the Trust’s assets
- Meet the external finance limit set for the Trust by controlling its cash spend
- Ensure capital expenditure is controlled within the capital resource limit of the Trust.
The Finance Directorate provides a full range of services to and on behalf of the Trust, these are:-
Management Accounts - provide a comprehensive financial advice and reports service to eleven directorates, individual budget managers and the Trust Board.
Pay Services - provide a high quality local service to the Trust’s 3,200 staff ensuring they receive accurate and timely remuneration and that staff receive appropriate pensions advice.
Accounts - are responsible for the prompt and accurate payment of invoices raised by suppliers of goods and services to the Trust and for raising invoices for users of hospital services and private patients. A target of 95% of invoices paid within 30 days of receipt is in place and is achieved.
Patient Monies/Cashiers - are responsible for providing a deposit and withdrawal banking facility to patients and ensuring appropriate reimbursement to eligible patients of their travel expenses. Also ensuring appropriate banking and investment of Trust monies to enable the Trust to have the required resources on a day to day basis.
Financial Accounts - are responsible for completion of the annual accounts and for maintaining the Trust’s financial systems. This department also administers the Trust’s capital programme and ensures accurate recording of monies owed by the Trust and to the Trust.
Choices – Choices is a trust initiative inviting all staff to give their ideas as to how we can save money by working more efficiently through staff engagement and discussion.
Choices gives the chance for staff to use their expertise to put their ideas forward and get involved in making changes that will allow the Trust to make its efficiency savings, whilst continuing to provide a high quality of care and service to its patients.
There have already been a number of suggestions (CCU relocation, women’s health unit, second class post as standard) that have allowed the Trust to make significant savings and this programme aims to take ideas like these from staff one step further.