‘Cash is dwindling at an alarming rate’, according to Isle of Wight NHS Trust Board.
During a meeting on Wednesday (6) board members claimed that money is being spent on improving areas that were previously criticised by the CQC, such as the ambulance station and mental health wards.
However they also say the Trust has had to spend more money than planned in order to meet the independent regulator’s expectations.
A £18.8m deficit position was originally forecast however there is now a risk of a further £2.4m, to cover improvement plan costs.
Under a ‘Worst Case Scenario’ the Trust has now said it could deliver a £28.5m deficit.