FINANCE; The specialist mental health trust said at month 10, January, its surplus of £259,000 was behind budget also, by £159,000.
The finance report said: “But allowing for the contingency reserve, we are still well in line to achieve the year-end budget of £150,000.”
Cost reductions mitigated the effect of the income reduction and the cash balance at the end of January was above plan at £4.9m while the cash forescast for 2011/12 remained uchanged.
Roughly half the income shortfall came from lower than expected consultancy earnings, which were £340,000 under plan.
The report added: “Research income is below budget by £113,000 and this trend is expected to continue.”
The trust has a budget of around £32m.
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Board papers (see file attached, right)