FINANCE: The Royal Berkshire Foundation Trust has a reported financial risk rating of three, despite capital overspends, a revenue deficit and a shortfall in cost savings.
The trust has a year to date deficit of £2.8m against a planned £200,000 surplus.
Year to date income for the first half of 2012-13 was £160.5m, £3.1m more than budget, mainly due to higher drugs income and extra funding from commissioners.
However, at £163.3m, expenditure was £5.9m worse than planned.
Pay costs were £1.1m above budget, while cost improvement plans yielded £900,000 less than expected.
Capital expenditure of £7.9m compared with a budget of £7.2m. This was driven by the implementation over the summer of the Cerner Millennium electronic patient record system.
There were “ongoing issues with accurate capture of activity off EPR”.
Board papers (attached)