FINANCE: The mental health foundation trust is forecasting a year-end surplus – though slightly smaller than originally planned.
Director of finance and performance Jayne Deaville reported that at month seven, December, the year-to-date position showed a retained surplus of £3.1m – representing an under-spend of £0.9m against a planned surplus of £2.2m.
As a result it was forecast that the trust would finish the year with a surplus position of £3.8m – representing an unfavourable variance of £0.1m against its planned surplus position of £3.9m.
Ms Deaville noted that the year-to-date surplus position had improved by £0.7m compared to month six (£2.4m).
This was due principally to a continuation of the surpluses reported at month six (£0.4m), the receipt of additional forensic specialling income (£0.3m) and expenditure savings from ward closures within the Shropshire Mental Health division.
16 December 2010