Class 3 - Financial and Funding Information

Class Description: Funding details, charging policies and financial accounts

How we manage our financial resources

The Trust Board agrees at the beginning of each financial year how the funds available to the Trust will be spent. Grateful patients, relatives and friends, and other groups or individuals make donations to the Trust to enhance the provision of services. The way in which these donations are accounted for is prescribed by the Department of Health and the Charity Commissioner for England and Wales. The Trust's Charitable Funds are administered by the Trust Board acting as Trustees. The Trustees hold the view that donated monies should be spent within a reasonably short period following receipt and not be allowed to accumulate for a rainy day.

Our Director of Finance and Corporate Governance has corporate responsibility for the oversight of the Trust's finances.

The Trust Board receives regular updates on the financial position of the organisation and makes the decisions on the allocation of these resources. It is a key target, set by the Department of Health, for the Trust to achieve financial balance by the end of each financial year.

A copy of the Annual Report & Summary Financial Statements can be found on this website or hard copies can be provided with any charges being in accordance with Trust Policy as detailed in Class 15 of this Publication Scheme.

The Trust, as part of the NHS, adheres to all relevant Corporate Governance guidance. Comprehensive arrangements for governing the financial affairs of the Trust, e.g. Standing Orders, Standing Financial Instructions, have been approved by the Main Board. This whole area is subject to annual review by auditors.

The Trust makes available as much information as possible about the sources and state of its finances. In certain circumstances information intended for future publication, audit material, personal information, commercial or confidential information and criminal and regulatory investigation material or law enforcement material will be exempt from publication

Financial accountancy services, including payment of invoices, payment to staff is provided by Shared Financial services hosted by South Tyneside NHS Foundation Trust.

How we purchase our equipment and supplies

The Trust follows the guidance established by the NHS Purchasing and Supply Agency (PASA)

The PASA guidance sets out the standard terms and conditions that NHS organizations should follow in regard to purchasing equipment and supplies. In the NHS we refer to this as procurement. Our Head of Procurement reports to the Director of Finance.

The Trust will advertise tenders for goods, services or works schemes above the prevailing EU financial threshold through the Official Journal of the European Communities (OJEC) procedures. The website for OJEC is OJEC - Official Journal of the European Communities. In addition contract award notices will be published in OJEC.

We will use this part of the Publication Scheme to publish some background information relating to the annual procurement work plan. Items not included will be those where a commercial issue or issue of confidentiality is involved.

The Trust works in conjunction with the NHS Executive based in Leeds and follows guidance from NHS Estates which provides support and advice on the procurement, design, operation and maintenance of healthcare buildings and facilities.