Kettering General Hospital NHS Foundation Trust (KGH) provides services for more than 300,000 people in the community. Income for our services is provided under Service Level Agreements (SLAs) with our commissioners. The main one being Northamptonshire Teaching Primary Care Trust (the PCT).
The Finance Director has corporate responsibility for financial governance, assurance and business advice to the Board.
Other main sources of income are from SLAs with the Strategic Health Authority for providing training and education to junior doctors and an SLA with the PCT for providing services to their staff.
Monitor
Monitor requires each foundation trust board to submit an annual plan and quarterly and ad hoc reports. Performance is monitored against these plans to identify where potential and actual problems might arise. Monitor publishes quarterly and annual reports on these submissions and assigns each foundation trust with an annual and quarterly risk rating. These risk ratings are designed to indicate the risk of a failure to comply with the terms of authorisation. Monitor publish three risk ratings for each NHS foundation trust, on:
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governance (rated red, amber or green);
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finance(rated 1-5, where 1 represents the highest risk and 5 the lowest)
Based on these risk ratings, the intensity of monitoring and the potential need for regulatory action is considered on a case-by-case basis. This also applies where a foundation trust is performing well, for example moving from the usual quarterly monitoring to six-monthly monitoring.
The annual accounts are presented to Monitor who currently rate the Trust as level 4 for finance – low risk Monitor
Financial Controls
The Board of Directors receive regular reports on the financial position.
The Standing Orders, Standing Financial Instructions (SFIs), Scheme of Delegation and Accounting Procedures set out how we manage our business and our financial responsibilities. They are designed to ensure that our financial transactions are carried out in accordance with best practice. Accounting procedures are available on request via FOI@kgh.nhs.uk
Annual Statement of Accounts
The Trust publishes its External Annual Accounts which incorporate reports from the Chairman, Chief Executive, Director of Finance and Auditors. The summary financial statements include income and expenditure, balance sheet, statement of recognised gains and losses, cash flow statement and notes to the accounts. Financial information is also published in the Annual Report.
The Charitable Funds Accounts include details of the Trustees, fund objectives, Auditors report and statement of financial activities, balance sheet and notes to the accounts.
Budget and Variance Reports
Each Directorate sets its budget on an annual basis. The Trust produces budget reports on a monthly basis which are then sent out to all budget holders. These are summarised and reported to the Board
Financial Audit Reports
The Trust is audited by the Audit commission who take any audit reports to the Trust’s Audit Committee. These reports for the last year are available through the link below.
Standing Financial Instructions
The SFI’s detail the financial responsibilities, policies and procedures to be adopted by the Trust and they are designed to ensure that all its financial transactions are carried out in accordance with the law and government policy in order to achieve probity, accuracy and economy, efficiency and effectiveness. They should be used in conjunction with the Scheme of Delegation adopted by the Trust.
Funding (including Endowment Funds)
The KGH Charity Fund has been set up to help improve the lives of patients, their families, visitors and staff at the Kettering General Hospital. By raising funds we aim to enhance and improve patient care and facilities and go the extra mile for local health care.
Every donation is gratefully received and makes a big difference to the individual services we provide.
Links
Board Meetings papers (see Financial Reports for budgets and variances) -
www.kgh.nhs.uk/about-us/trust-board/meetings/
Charitable Funds web page -
www.kgh.nhs.uk/about-us/fundraising-and-donations/
Standing Orders (part of Constitution) - Monitor website
Main ward block extension (link)
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Fax 01536 492599