Finance and Performance Committee
Annual Review
2014-2015
1. Introduction
The Finance and Performance is a sub-committee of the Board with responsibility for
maintaining a detailed overview of financial plans, forecasts and investment
decisions. The principal role of the Committee is:
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To review performance, plans, forecasts and governance risk rating.
To have an overview of workforce plans vis-à-vis performance, finance,
governance and risk.
2. Authority and Duties
Under delegated authority from the Trust Board, the Committee undertakes the
following:
The Committee provides oversight of the activities the Trust undertakes to maximise
its healthcare provision subject to its financial constraints. In its thinking, the
Committee considers patient safety to be of paramount importance. It achieves its
aim by providing assurance to the Board that there are robust mechanisms in place
to ensure:
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Detailed consideration is given to the Trust’s financial, investment and associated
performance issues to ensure that the Trust uses public funds wisely and
efficiently; and
Adequate information is available on key issues to enable clear decisions to be
made, to ensure compliance with the guidance of regulatory bodies eg the
Department of Health and TDA and achievement of the Trust’s strategic aims and
objectives; and
The management of operational performance against national targets and
corporate objectives.
The Committee has a role in the Trust’s performance management framework,
receiving recommendations for intervention as part of the agreed escalation process
when required.
3. Membership and Quoracy
The Committee is chaired by a non-executive director of the Trust and has two
additional non-executive directors (including associate NEDs where relevant) as
members who are appointed by the Chairman. In addition, during 2014/15 the
Finance & Performance Committee membership comprised of the following:
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Chief Operating Officer & Deputy Chief Executive
Director of Finance,
Director of Planning and Performance
Director of Human Resources & Organisational Development
Medical Director
Director of Nursing, Midwifery & AHPs
November 2015 Final
In attendance but not members of the Committee were the following officers:
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Chairman
Chief Executive
Deputy Director of Finance
Director of Corporate Governance (this post no longer exists at the time of writing
this report)
Director of Estates and Facilities – for capital projects being reviewed
Other Trust officers attended as required by the Committee in an advisory capacity.
The meeting was quorate when two Non-Executive Directors (including Associate
NEDs) and two Executive Directors (from the membership) attended.
The Committee met twelve times between April 2014 and March 2015 and all
meetings were quorate.
November 2015 Final
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29/7
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Louise Cretton
NED
Mary Clarke
NED
Jamal Butt
Associate NED
Karen Breen
Chief Operating Officer
Jayne Black
Chief Operating Officer/Deputy
CEO
Azara Mukhtar
Director of Finance
Steve Ebbs
Medical Director
Lisa Chesser
Director of Planning & Informatics
Michael Burden
Director of Human Resources &
Organisational Development
Zoe Packman
Director of Nursing, Midwifery &
AHPs
Michael Fanning
Interim Director of Nursing,
Midwifery & AHPs
27/5
John Thompson (Chair) NED
29/4
MEMBERS
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FINANCE & PERFORMANCE COMMITTEE MEMBER ATTENDANCE 2014/15
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Resigned 31 July 2014
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Resigned 31 August 2014
Appointed 1 November 2014
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Resigned 1 December
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Appointed 1 December 2014
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4. Annual review of terms of reference and work plan
There were no changes to the Committee’s Terms of Reference during 2014/15.
However, at the time of writing this report, it was identified that the terms of reference
need to be refreshed to reflect the changes within the executive team. These will be
updated with the other Board sub-committees in January 2016.
Consideration was given to the Annual Work Programme and agenda content at the
end of each meeting.
Matters considered in 2014/15 included the following highlights:
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In the areas of both Finance and Performance effort was given to presenting data
in a way that made information understandable,,usable and relevant to the Trust
strategy and the requirements of interested stakeholders. This was an evolving
process and, indeed still continues. Significant progress has been made in this
area.
The year began with ongoing consideration of the impact of the introduction of
Cerner (CRS Millennium); concerns about accuracy of recording and staff
training. The committee challenged executives to improve the performance in this
area as it had a direct effect on recording activity.
From the outset there was a focus on the financial performance of the Trust.
PwC were engaged to help put together a turnaround plan and a turnaround
Board was formed. The PMO was refreshed and regular and urgent
consideration was given to QIPP plans and their progress, income generation,
including repatriation of activity. NB. The turnaround plan was later renamed ‘the
Patient Experience and Financial Improvement Plan’. Reporting on this report
was a focus for the committee and there was careful scrutiny throughout the year.
Early in the year we closely monitored the use of Agency staff and its impact on
costs. NHS Professionals had been brought in to help control expenditure in this
area and their progress in doing so was closely monitored.
Careful monitoring continued of Trust performance, in particular Emergency
performance.
During the year the outline business case and full business case were developed
for the much needed building of a new Emergency department and approval was
achieved.
RTT performance was also regularly investigated in detail.
Particular consideration was given to the Winter resilience plans as they were
vital to efficiency and effectiveness plans.
The first of several ‘Safer,Faster ‘ weeks was run to learn how the process could
be improved to deal with emergencies and patient flow. This has been
incorporated in future strategy.
PwC conducted a review of controls and their recommendations were monitored
for implementation.
A Procurement Strategy was introduced to support Trust objectives and
implement good practice.
Service Line Reporting was introduced and made available to Directorates.
Friends and Family Test scores were examined for response levels and overall
scores and the committee encouraged the triangulation of these with other
performance indicators.
The year ended with a deficit (see Annual Accounts).
The Finance and Performance Committee sought to establish the lessons that
could be learnt from the planning and management of plans in the year 14/15 so
as to improve the business planning process in the next year.
November 2015 Final
5. Annual Self Assessment of Effectiveness
It was acknowledged that the number of Committee meetings held had been
sufficient and in line with plans and agendas appropriately structured to support the
effective discharge of responsibilities.
Matters considered and decisions made by the Committee were taken on an
informed basis and these decisions were understood, owned and properly recorded
and would bear scrutiny; subsequent implementation of decisions and progress had
been reported back to the Committee as required.
Matters considered in 2014/15 were within keeping of the Committee’s annual work
programme and the critical issues that needed due consideration were effectively
scrutinised by the Committee.
At all times the Committee recognised that patient safety was paramount.
6. Reporting
Minutes of the Committee were presented to the Trust Board for consideration and
the Chair of the Committee drew the Board’s attention to any issues that required
disclosure, discussion or required executive action. The Trust Board then had the
opportunity to ask questions of the Committee’s Chair and of the executives.
7. Key Issues
As we moved into the next year we were keen to encourage openness and
transparency on discussion of issues and continue to improve the communication of
data. We are keen to promote accountability for performance across the trust.
8. Conclusion
The Committee is of the opinion that it has effectively discharged its responsibilities
throughout the year and that there is nothing it is aware of at this time that have not
been disclosed appropriately. We would like to thank all the members of the
committee, executive and non executive, for their contribution to the work of Finance
and Performance meetings, and those who work behind the scenes to produce the
papers for consideration. Also thanks should go to the Committee Secretary for
timely and accurate production of minutes.
Louise Cretton
Chairman of Finance and performance Committee.
Please note that during the year of this report John Thompson was Chair of the
Finance and performance Committee and Louise Cretton a NED member of the
Committee. John Thompson stood down from the role in June 2015 when Louise
Cretton took over.
November 2015 Final