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Delivering best value

Delivering best valueGood financial management and strong governance provide the foundation for the delivery of high quality health services. Our ability to make efficiency savings for more than a decade has enabled us to invest in our hospital infrastructure that puts us in a good position to continue improving the care we provide into the future.

Working together, we delivered a healthy financial outturn for 2015/16. This is a good result, the thirteenth year the Trust has achieved break-even or better and the eighth year of our financial strategy as a foundation trust. During the year the Trust achieved an income and expenditure surplus of £3.46m before technical items, efficiency savings of £16.44m, a year-end cash position of £74.011m and we have a strong balance sheet resulting in a Continuity of Services risk rating of 4 from regulator Monitor.

The Trust Board receives a finance report every month which is published as part of the Trust Board papers.