FINANCE: South West London and St George’s Mental Health Trust ended 2012-13 with a surplus of £1.7m, board papers reveal.

The trust’s income was £163.2m, £1.3m over-plan, while costs were £161.6m, leaving the trust with a surplus before impairments of £1.7m.

While pay costs were over-plan by £4.1m, non-pay costs were £3.1m lower than expected.

The trust said £3m of the pay overspend was redundancy costs.