Finance
St Peter & St James' primary objective is the delivery of best practice in all areas of care. To fund general operating costs, the Trust needs to raise £1.2 million in voluntary giving for the year 2007/2008. We rely heavily on the generous support of the local community at all levels to cover our annual expenditure.
It is pleasing to report that the consolidated accounts for 2006/2007 show that we had a surplus of incoming resources of £46,111 against the deficit of £79,005 for the previous year. This was partly due to our total fundraising income, including legacies, exceeding last year's achievements by £100,000.
Our staff costs increased by 4.8%, partly to match NHS pay scales. However, due to continuing tight controls, our general costs before depreciation increased by less than 1%. Whilst we did see a marginal increase in NHS Primary Care Funding to 15% of our Hospice costs, this compares to 30% on average for our peer group in 2006. Whilst in 2004, due to external pressure, the Government increased general hospice funding, the level of Government financial support has now drifted back down to pre 2004 levels. Smaller hospices receive less funding as a percentage of expenditure than larger hospices (Source: Help the Hospice, 2006 report on hospice accounts).
It was good to report that we saw a net gain on our investments of £30,462. It will be noted that we wrote off £124,233 up front costs connected with the Capital Appeal which the Trustees had previously announced was to be suspended. The Finance Committee at their regular meetings monitor and report the Trust's financial performance to the main Board.
Please click here to see the latest Consolidated Statement of Financial Activities
Please click here to download a copy of our 2006/07 Annual Review
If you would like a hard copy of our 2006/07 Annual Review please contact us.