Basildon and Thurrock University Hospitals Foundation Trust has posted a £2.1m deficit for the first four months of 2013-14 – £1.9m more than forecast.
The trust’s September finance report said the trust was now forecasting an £8.7m annual deficit for 2013-14 “reduced to circa £7.2m via non-recurrent reserves”.
The report said: “[Year to date] the trust has delivered a £2.1m actual [income and expenditure] deficit, which is £1.9m adverse to budget.
“The [year to date] position includes a release of 2012-13 unused provisions and other balance sheet items of £2.4m, offset by 2013-14 income provision of £1.4m.”
It added: “The continuing high cost base, and quality demands indicate the trust will be financial deficit.
“The divisional forecast is for a £8.7m deficit, reduced to circa £7.2m via non-recurrent reserves.
“A recovery plan is required by all divisions and directorates to reverse the financial position whilst maintaining quality.”