FINANCE: The Ridgeway Partnership reported a year to date deficit before adjustment of £858,000 at the end of October, £1.1m worse than planned.

The trust’s year to date income is £22.2m - £159,000 more than expected.

However the figure for October itself was a £35,000 surplus - £49,000 worse than planned.

The trust’s finance report said “the impact of the phasing of savings and income growth, and also of the other actions that will be taken, is to restore the trust to breakeven by year end. On that basis the reported position for the year to date is also breakeven.”

The trust has a financial risk rating of one, the worst possible score, against a plan of three. However this still translated to an “amber” rating.

Source

Finance report

Source date

November 2011

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