FINANCE: Reduced activity during the Olympics cost University College London Hospitals Foundation Trust £3m in lost income, minutes reveal.
The minutes said a board member: “drew attention to the fact that activity in July had been below plan and August activity was also lower than plan owing to the effect of the Olympic Games. Therefore at the half-year we expected to be £3m behind plan.”
The minutes added: “The finance and contracting committee had discussed the position in considerable detail and had agreed to recommend the release of £1m of the board contingency [fund] to offset the adverse financial impact. The board agreed the recommendation but would closely monitor the situation.”