FINANCE: University Hospital Southampton has beaten its cost improvement target in the six months since it has become a foundation trust, but still fell short of its target for 2011-12.

The trust delivered £26.3m of savings in 2011-12, £1.4m short of plan.

However its performance in the second half of the year, after it gained foundation status, was £300,000 better than expected.

In March, CIP savings were £800,000 above target.

Board papers for April also highlighted the level of non-recurrent savings.

The papers said: “The level of non-recurrent schemes exceeds the full year effect of schemes delivered this year by £4.2m.”