Financial Outturn Report 2021-22: Revenue and Capital Variances
Explore the financial outturn report for 2021-22, detailing revenue and capital variances, strategic reviews, cost savings, and key movements affecting budget outturn positions. Learn about the impact on net expenditure, staffing, virtual service delivery, and better payment practices.
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Presentation Transcript
HRA 2021-22 Draft Outturn Katie Marriner HRA Board May 2022
2021-22 Outturn Position Variance Variance Expenditure type Revenue Capital Depreciation 1,678 Total 2021-22 Budget 20,276 2,765 2021-22 Outturn 17,659 1,160 1,629 20,448 % -13% -58% -3% -17% -2,617 -1,605 -49 -4,271 24,719 Revenue underspend; Economies achieved by adopting a more virtual business model including moving to a virtual ethics service and greater reliance on technology to do our business A challenging external environment impacting on our ability to attract talent and grow our staff group at the desired pace to appropriately resource our services and aims. 727k of the revenue underspend relates to RSP, which has been reprofiled. Capital underspend; A strategic review of our research systems transformation following the successful delivery of combined review so that we can learn from the first phase and incorporate this learning in the next phase of the delivery (reprofiled)
Key movements from forecast to outturn position RSP Staffing Travel & face to face activity Balance sheet tidy up
Financial Statements 21-22 - Net Expenditure - 19.3m for 21-22 - 3.1m / 19% greater than 20-21 - Pay - 2.3m higher than 20-21 - Average headcount 23% increase (48 Staff) - Non Pay - 350k lower than 20-21 - Property cost decrease (7%) - Virtual service delivery
Financial Statements 21-22 (cont.) - Depreciation & Amortisation - Increase of 411k or 34% on 20-21 - IRAS Development - Closing Cash Balance - 1.1m / 22% decrease compared to 2020-21 - Better Payments Practice - 96% Of non NHS invoices paid within target (up from 91% in 20-21) - 95% of NHS invoices paid within target (in line with the 96% in 20-21)
IFRS 16 Lease Costs Operating Lease costs (Note 11) in 21-22 Accounts - Increase of 1m against 20-21 costs shown. - Due to inclusion of Nottingham and Bristol leases - Will decrease considerably in the 22-23 accounts, as a number of these leases will move to the balance sheet. Adopting IFRS 16: - New standard regarding the accounting treatment of leases - Applied from April 2022 - Adjusts reporting of leases to be treated similarly to other non financial assets (such as property, plant & equipment) where the value is capitalised, and then depreciated. - Note 1.12 includes an important IFRS disclosure showing the expected impact on the 22-23 accounts.
