FINANCE: The Newcastle Upon Tyne Hospitals NHS Foundation Trust met its enormous cost improvement plan target for 2010-11, but fell short of its planned surplus for the year.

The income and expenditure surplus (before impairments) was £123,000 against a plan of £8,066,000. The earnings before interest, depreciation and amortisation - another measure of an FT’s performance similar to profit - was £55.8m, compared to a plan of £65.7m.

The trusts income was higher than planned but so was expenditure.

The planned recurrent CIP of £27m was achieved, as was an additional £3.6m.

Source

Governors finance summary

Source date

May 2011

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