IJB Planning and Strategies

IJB Medium-Term Financial Plan (MTFP)

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The IJB Medium-Term Financial Plan (MTFP) is a key document that outlines the Shetland Integration Joint Board's financial strategy for the coming years. It provides a guide for managing resources, ensuring sustainable service delivery, and supporting the strategic objectives of the IJB. The 2025-2030 MTFP went to IJB on 19 March 2025.

The MTFP is essential for supporting integrated health and care in Shetland. By planning based on the totality of resources across the health and care system, the IJB can ensure that services meet the needs of local people and are sustainable.

The Service Plans for health and care services in Shetland (created by the service teams in Shetland Islands Council and NHS Shetland) must be based on the MTFP for the IJB. The delivery and budgets of these service plans should match with the information provided in the MTFP, and Service Plans should include specific projects and actions that aim to ensure financial sustainability and to reduce or solve any expected budget shortage.

The IJB MTFP is updated annually to ensure it remains accurate and relevant. These updates reflect the financial impact of any changes or projects implemented during the previous year.

The MTFP includes

  • Financial Projections: Forecasts of income, expenditure, and asset values.
  • Risk Assessments: Identification and evaluation of potential financial risks.
  • Savings Targets: Goals for reducing costs and improving efficiency.
  • Investment Plans: Outlining planned investments in services or infrastructure.
The MTFP helps to ensure
  • Informed Decision Making: The MTFP helps the IJB make informed decisions about resource allocation, service delivery, and long-term sustainability.
  • Financial Sustainability: By identifying potential financial risks and developing mitigation strategies, the MTFP helps the IJB to consider actions needed to maintain or improve financial sustainability.
  • Strategic Alignment: The MTFP aligns financial planning with the IJB's strategic goals, ensuring that resources are used effectively to achieve desired outcomes.
  • Service Improvement: The MTFP informs service plans and projects, helping to address projected budgetary deficits and improve service delivery.