FINANCE: During the first month of 2011-12, the mental health foundation trust delivered savings of £377,000, which is £148,000 behind plan for April.
Board papers stated: “It is recognised that the £14m cost improvement programme for 2011-12 is challenging for the trust.”
It adds: “It will be essential that the trust keeps a tight control on financial performance from the outset of the year and makes contingency plans to mitigate against slippage or non-deliver of the cost improvement programme.”
Overall the trust reported a surplus of £231,000 in April, against a plan of £232,000 for month one of 2011-12.
Meanwhile capital expenditure in April totalled £671,000, which was £1.5m behind plan.
This was “mainly due to the expected cash flows falling behind plan on the trust’s three main schemes”, the papers said, but added that the trust “anticipated that the final expenditure on these schemes will be in line with the plan”.
1 June 2011