This is specific to the PMD practice statement.
section of the report shows expenditure against the
following details are provided:
- target budget for the current year. If a practice
moves to a new PCT mid-year and retains their patients,
they will also retain their existing budget as this
has been set according to the needs of the practice
- if a target budget needs to change mid-year, these
changes need to be agreed with the PCT
if a practice splits the budgets will need to be agreed
with the PCT and will normally be prorated with list
- expenditure for the current month
- cumulative actual cost
- forecast out-turn.
The forecast out-turn can be compared with the target
budget to establish whether the practice is on target
for expenditure; for example if the forecast out-turn
is greater than the target budget then if current expenditure
levels are maintained the target budget will be exceeded
at the end of the financial year.
Target budget and forecast out-turn figures will not
be shown for the first two months of the financial year
(relating to April and May dispensing) due to the volatility
of forecasting over the beginning of the year. The first
month that these figures will be shown for each financial
year will be for June dispensing.
Budget for the Current Year,
for the Current Month,
Cumulative Actual Cost,