FINANCE: The foundation trust’s “underlying” financial performance for the first three months of 2012-13 was a deficit of £1.5m, although one-off benefits from the previous year allowed it to report a surplus for the quarter, its latest finance report shows.
“At the end of June the underlying financial performance of the trust is a deficit of £1,468k, however non recurrent benefits from the 2011-12 income position and the
release of deferred income has allowed to the trust to report a surplus of £251k, which is £29k ahead of the planned surplus,” the report states.
“This surplus position has secured a financial risk rating of a 3 for the first quarter. Underlying positions continue to be driven by the shortfall in achieving cost reduction plans, the on-going costs relating to supporting the A&E targets and continuing high levels of ward pay costs.
It is critical that Business Groups focus on delivery of costs within budgets and identification and delivery of further schemes to address the cost reduction plan shortfall both in-year and on a recurrent basis.”