FINANCE: Royal Devon and Exeter Foundation Trust generated a surplus of £1.3m in 2012-13, against a plan of £3.5m.

A report to the board said an income and expenditure deficit of £21.6m had been incurred, inlcuding an impairment on fixed assets of £22.8m.

The report said: “Excluding the impairment a surplus of £1.3m has been generated against a plan of £3.5m.”

The tust achievind its £16.9m cost improvement plan during the year, £15.3m of which was recurrent savings.