Cornwall Hospice Care Finance
FINANCE DIRECTOR’S REPORT YEAR ENDING MARCH 31ST 2010
I am very pleased to report to you that we have had a better year than we have been experiencing in recent years.
The main reasons are that Legacy income increased significantly this year compared to 2008/9; the Cornwall and Isles of Scilly Primary Care Trust (PCT) provided extra Grant funding for the second year running; and in addition we saw the increased level of public support (which we began to experience in the fourth quarter of 2008) from fundraising events, donations, charity shop sales and our weekly Lottery, continue through this financial year as well.
Legacy income is a large, but very variable income stream and in common with many other charities we have great difficulty in forecasting future receipts from this source, and it can literally be ‘feast or famine’.
The PCT funding has also made a significant difference to our income, and although we are still below the national average for Hospices, it has certainly bought us closer. We enjoy a very good relationship with the PCT and we are working with them to improve this further. Hopefully in the future we will move towards a tariff system of remuneration similar to that currently operated on a wide scale throughout the NHS.
Finally, the effect on our income this year of increased public support cannot be emphasised too highly- you, the people of Cornwall have been magnificent!!!! It has enabled us to continue the high levels of specialist care that you have come to associate with our two hospices over many years.
All of the above, coupled with tight cost control has given us a much better financial footing to welcome in the new financial year. However, as with most economic affairs these days, there is no certainty or guarantee of this continuing – we are looking at a tight budget for 2010-11 and still have uncertainties regarding some income streams - Legacies and the PCT grant being the major ones. We are, however, optimistic that we will continue to receive the increased support via the latter that we have enjoyed in recent years.
Trevor Bould
Director of Finance
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