Financial Report 2013 – Autumn

In previous financial reports we have looked at some of the details of our income, so it’s probably time to look at the other aspect of the finances – our costs.

It’s important that those who support us so generously feel confident that we are making good use of their gifts. Because we are a “Hospice at Home” rather than a hospice with inpatient facilities, our fixed costs – those that we would incur whether we care for patients or not – are very low.

They amount to things such as our annual insurance and the rent we pay for our office. (The latter is below market rate thanks to the kindness of our landlord.)

Also, our two nurses in management are paid a fixed salary but all our other nurses work on a “bank” basis. This type of employment has recently been in the news under the name “zero hour contracts” and it has been pointed out that these give advantages and disadvantages both to employees and employers. However, the arrangement currently works well for The Rosemary Foundation and staff and it means that the salaries and expenses such as travel are variable costs – put simply they go up and down in line with the number of patients we are looking after.

These arrangements mean that the cost of an hour of nurse’s time with a patient is as low as is feasible. Obviously, nurses have to spend time on other activities away from patients – for instance training to keep abreast of current developments and discussing cases with other healthcare professionals – doctors, district nurses as well as Foundation colleagues. And because we cover some 700 square miles, quite a lot of time is spent travelling.

Our cost per nurse withpatient hour has increased by some 70% over the last eight years. This is partly due to increases in salaries and travel costs but also other factors such as the additional administration work needed to meet the requirements of the Care Quality Commission and of course, dear old Health and Safety.

I’m glad to say that we finished our last financial year at the end of June 2013 with a modest surplus. This meant we were able to augment the investment fund we are building up so as to provide a reliable and predictable income for the long term future of the Foundation.

And finally, we are now registered with MyDonate, a BT sponsored website for fundraisers where every penny (other than the costs of processing debit and credit cards) goes to the charity: there are no commission charges or monthly fees, unlike some other such sites. So if you are thinking of holding an event, please consider using MyDonate as it will be of greater benefit to us.

The Rosemary Foundation is very grateful to those kind people who have remembered the foundation in their will.

If you would like to leave a legacy to The Rosemary Foundation, just ask your solicitor to add the appropriate clause stating The Rosemary Foundation’s name and Charity Number 1064723.

Mike English, Trustee

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