Financial management

Achievement of the financial position shown in the 2003/04 Plan, submitted to the Department of Health, without the need of unplanned financial support

Rationale

Financial stability is both a key objective and a minimum standard for NHS bodies. It provides the essential platform on which to manage and develop patient services in line with the targets/objectives set out in the NHS Plan.

Thresholds

Legend
Achieved		Achievement of financial plan (or better) without unplanned financial support
Underachieved	-	Adverse variance from financial plan of up to 1% of turnover or less than £1million without unplanned financial support
Significantly underachieved	x	Adverse variance from financial plan greater than 1% of turnover or greater than £1million or unplanned financial support