FINANCE: The trust finished 2010-11 with a £5.2m surplus but has fallen behind plan so far this year, according to board papers.
In his report to the April board meeting, finance director Spencer Prosser said: “It was noted that the trust has achieved £5,234,000 surplus, which will facilitate debt repayment and in line with the 2.6 per cent statutory responsibility of the turnover.”
Board papers also noted that the trust had also achieved its cash target and capital control target – subject to audit – and that expenditure cost improvement plans had been delivered.
The papers also highlighted that the trust had set itself a 2011-12 target of finishing the year with a similar level of surplus as last year. It set its financial goals as achieving an overall financial surplus of £5.2m and achieving cost improvement plan savings of £16.56m.
However, the board papers reveal the trust has slipped in its financial performance for April 2011.
They state: “The in month position for April is a surplus of £323,000 compared to a planned surplus of £624,000 for the month – an adverse variance of £301,000.”
28 April and 26 May 2011