FINANCE: The trust has added a new “high level” risk to its risk register, warning of the impact if the service does not receive recurrent funding for its investment plan in the coming financial year.

The trust has given the risk an initial rating of 20 out of 25, and a residual risk rating of 16 after it has taken mitigating action.

The risk register states that the trust’s long term financial model base case “assumes that funding will be received recurrently for the investment plan.

Failure to receive recurrent funding for 2012-13 will result in a significant financial loss to the trust and the ability to deliver performance targets will be compromised.”

Under key controls, or actions taken to mitigate the risk, it states: “The Board of Directors is aware that early negotiations between NWAS and Commissioners regarding the contract value for 2012-13 are taking place.

“The trust is on track to deliver the Cat A8 and cat A19 [response time] targets for 2011-12 and this will be a key driver in the case for making the funding recurrent for 2012-13.”