News alert / NHS foundation trust annual reporting manual 2023/24

The Foundation trust annual reporting manual (FT ARM) for 2023/24 has been published. The main changes for this year include:

• new requirements to meet the disclosures set out in the NHS provider code of governance. These include new disclosures and comply or explain provisions where an explanation is required if the code's requirements are not met
• new requirements to meet the first phase of the task force on climate-related financial disclosure (TCFD) requirements. In 2023/24 a description of the board's oversight arrangements of climate related issues is required along with a description of management's role in assessing and managing those issues
• guidance on reporting negative real increases to pension, lump sum or cash equivalent transfer values as a result of the public services pension remedy 
• an update to the requirements to include information relating to the trust’s activities to tackle health inequalities
• updates to the governance statement as a result of changes to the NHS provider licence
• changes to the staff survey disclosures that reflect the fact that three years' worth of information is now available in the format that started in 2021/22
• the removal of disclosure requirements relating to the basis of the calculation of the cash equivalent transfer value – this was a late addition to last year’s ARM and is no longer required
• confirmation that NHS foundation trusts in their first year of operation will not include prior period comparatives their annual report.