FINANCE: Newham PCT is on course to deliver a surplus of more than £7m this year, exceeding its target by over £1.6m, despite overspends in acute commissioning.
The trust recorded a net surplus of £845,000 in January, according to board papers for March, forecasting a year-end total for 2010-12 of £7.05m, against an agreed surplus requirement of £5.37m.
Acute commissioning was £6.95m overspent in the year to January, and was expected to be £8.34m overspent by the end of 2010-11.
Integrated commissioning as a whole was expected to be £449m underspent to the end of January, despite an overspent in mental health commissioning.
A total of £884m has been set aside as a hedge against a projected overspend of the same amount in the trust’s prescribing budget.
The trust’s resource budget was £1m underspent, and there were also projected underspends in the trust’s dental budget and ophthalmic services budget.