FINANCE: South Devon Healthcare Foundation Trust’s assets have declined in value by almost a £1m, contributing to a year end surplus almost £500,000 behind plan.
The latest finance report to the board revealed the trust had delivered a pre-impairment income over expenditure surplus for the year of £2,522,000; being £422,000 better than plan.
However, the latest valuation of the trust’s land and buildings by the district valuer resulted in an impairment of £914,000 on the end of year accounts, while income was £72,000 behind plan and the overall earnings before interest, tax, depreciation and amortisation (EBITDA) are £12,656,000, £72,000 behind plan, and the trust finished the year with a surplus of £1,608,000, £492,000 behind plan.
The trust has achieved a Monitor financial risk rating of 4 in the final quarter of 2010-11.
Source date
4 May 2011
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