FINANCE: Leeds Teaching Hospitals NHS Trust exceeded its planned surplus in 2010-11 by £2.1m.
The trust recorded a surplus of £5.8m against a plan of £3.7m, board papers stating that it “ended the year with a favourable variance of £2.1m”.
However, the papers noted: “£3.7m of this surplus relates to the revaluation of Bexley Wing and Wharfedale, which is a technical issue therefore the trust has an underlying surplus of £2.1m.”
The finance paper says: “Pay budgets are underspent by £15.8m. The shortfall on savings not allocated to budgets was £14.8m and has therefore been more than compensated for by the workforce controls.”