FINANCE: Monitor may have to provide Yeovil District Hospital Foundation Trust with ‘deficit support’ because of the trust’s financial position.
High agency staffing fees and drug costs contributed to a year to date deficit of £5.8m by the end of January, which was £4.4m worse than had been budgeted for.
Chief finance officer Tim Newman said: “The cash flow forecast currently indicates there is sufficient cash until year end, including the additional tranche 2 winter funding income. We have advised Monitor of the position in case deficit support is needed before year end.
“Unless Somerset Clinical Commissioning Group agrees to invoice two months in advance, [the trust] will need cash support from April 2015 onwards.”