Financial best practice codes and ethics
Statement of compliance with cost allocation and charging guidance
The Trust complies with the cost allocation and charging requirements set out in the Managing Public Money guidance from HM Treasury and the Office of Public Sector Information.
Financial best practice codes and ethics
The Trust has signed up to the Better Payments Practice Code, which aims to encourage and promote best practice between the organisation and its suppliers. It aims to pay all suppliers within clearly defined terms and commits to ensuring there is a process for dealing with any issues that may arise. This helps the Trust to build stronger relationships with its suppliers.
Better Payments Practice Code
| 2022/23 £000 |
2022/23 Number |
2021/22 £000 |
2021/22 Number |
|
|---|---|---|---|---|
|
Total Non-NHS trade invoices paid in the year |
74,717 | 16,132 | 37,050 | 12,004 |
| Total Non-NHS trade invoices paid within target | 64,259 | 11,456 | 33,719 | 10,496 |
| Percentage of Non-NHS trade invoices paid within target | 86% | 71% | 91% | 87% |
| Total NHS trade invoices paid in the year | 8,911 | 635 | 5,496 | 532 |
| Total NHS trade invoices paid within target | 5,106 | 418 | 4,392 | 432 |
| 57% | 66% | 80% | 81% |
The Better Payments Practice Code requires the Trust to aim to pay all undisputed invoices by the due date or within 30 days of receipt of goods or a valid invoice, whichever is later.
The Trust aspires to pay at least 95% of invoices on time.
Fees and charges
Details of payments made in accordance with the Late Payment of Commercial Debts (Interest) Act 1998 are as per note 5.3 of the accounts.
Political donations
In accordance with historical and intended future practice, no political donations were made during the year ending 31 March 2023
Income disclosure
Section 43(2A) of the NHS Act 2006 (as amended by the Health and Social Care Act 2012) requires that the income from the provision of goods and services for the purposes of the health service in England must be greater than its income from the provision of goods and services for any other purpose. The Trust has met this requirement.
