Each primary care trust (PCT) has a statutory duty to maintain its expenditure within the resource limits set for revenue and capital. The Department monitors PCT expenditure and performance against this duty at regular intervals during the year, and reports the aggregate PCT financial position in the audited PCT summarised account after the year end.
During the financial year, the Department collects detailed information relating to the financial position of all national health service (NHS) organisations, including PCTs, on a quarterly basis. In addition, the Department also collects key financial performance data from the NHS in a number of the intervening months between each quarter. Information relating to each PCTs forecast outturn and revenue resource limit (RRL) is published in “The Quarter”, the Department’s regular update on NHS finance and service performance.
At the end of each financial year, PCTs publish their audited statutory accounts and submit accounting summarisation schedules to the Department. These schedules are aggregated, and the result both consolidated into the Department’s overall Resource account and used to produce the PCT summarised account.