Financial announcement for suppliers of Gloucestershire Hospitals NHS Foundation Trust
On 20 September 2016 the Trust announced a material change to its financial position.
This follows a high level independent review in August this year of our financial position and financial reporting arrangements. The Trust Board commissioned this following concerns raised at a number of levels within the Trust about its financial position and the deterioration of its cash reserves.
The review concluded that the Trust’s financial position isn’t as strong as previously understood and is significantly worse than the balanced position previously reported.
We have taken immediate steps to stabilise our financial position and have, for example, arranged a loan through the Department of Health so we can access funding to strengthen our immediate cash position.
We deeply value our relationships with our suppliers and the important role you play in helping us deliver high quality services for local people, and apologise if you have experienced delays receiving timely payments. We are now addressing this issue, however if you have any specific questions or concerns please contact us in the usual way.