FINANCE: Medway Foundation Trust expects to finish the current financial year with a small £1m deficit, according to a board finance report.
A financial summary delivered by Steve Orpin, deputy director of finance, stated: “In January the trust reported a surplus of £202k against an original planned surplus of £218k, a negative £16k variance.
“The cumulative position shows a £80k negative variance against a planned deficit of £1,567k,2 it said. “The trust is planning a £1m deficit for the financial year after restructuring costs.”
26 February 2013