FINANCE: Barking, Havering and Redbridge University Hospitals Trust is working towards a target deficit of £17.3m deficit in 2013-14, a board paper reveals.
The target was announced in a report on whether the trust could satisfy auditors that it should be awarded “going concern” status given its consistent deficits position each year.
The report said: “The trust has shown significant financial improvement, with a reduction of £10.4m to the in-year deficit, from £49.9m in 2011-12 to £39.5m in 2012-13. It is planning to reduce the deficit further in 2013-14 to £17.3m, including the benefit from £16m of new recurrent funding for PFI
“The trust will be required to meet certain criteria before it can access this funding (including sustainable achievement of A&E access target).”
Board papers (attached, pg.110)