FINANCE: South Devon Healthcare Foundation Trust finished 2011-12 with a surplus of around £4.6m, £2.4m ahead of plan.

A report to May’s board said income was £4.5m above budgeted levels, comprising a £3.5m favourable variance on healthcare contract income and a £0.9m favourable variance on other income.

There was an underspend of £2.6m across clinical and administrative pay budgets, which was offset by adverse variances of £1.9m in agency usage and £0.3m of vacancy factor.