FINANCE: University Hospitals Coventry and WarwickshireTrust moved from surplus to deficit at month ten after reaching a settlement with local commissioners.

Its January position was a £1.9m surplus - £700,000 worse than plan. This was an improvement on month nine, which was a £3.9 deficit.

Board papers said: “The main improvement in the position during M10 is the settlement with local commissioners.

“Additional income has been secured in acknowledgement of the impact that slippage on quality, innovation, productivity and prevention has had on the UHCW workload, particularly emergency activity and the knock on effect on delivery of cost improvement plans.”

The trust’s forecast outturn for 2012-13 remains a £2.5m surplus.