Latest news with #financialdeficit
BBC News
15-07-2025
- Health
- BBC News
Cardiff health board placed just below special measures
The health secretary has increased oversight of Cardiff and Vale University Health Board to just below special Miles said there were "worrying cultural and leadership challenges" and the board clearly needed extra comes after an internal report earlier this year found staff at the University Hospital of Wales had been involved in drug use, theft and other poor Miles also said the board's financial deficit had grown over the past 18 months, which has lead to the decision. He also pointed to long waiting lists, with the health board now having the second highest number of people in Wales waiting more than two years for said all these problems showed the board needed extra help."This will enable us to support the health board to develop and implement the necessary improvements," he added. He said the Welsh government would work with senior leaders to check if the organisation has the right skills and enough capacity, and "support them to appoint a team with the appropriate skills and expertise".Miles said there had been "positive developments" at the health board, but said the decision to increase measures was "the best way to support the health board". On the same day an independent report highlighted numerous care failings in maternity services at Swansea Bay University Health Board, Health Secretary Mr Miles announced that both maternity and neonatal services at SBUHB would also be escalated to level four monitoring. Meanwhile, Betsi Cadwaladr University Health Board remains under special measures. However, Mr Miles noted "clear signs" that the board is beginning to address many of its long-standing issues. He added there remained a "wide range of performance issues – especially with planned care and urgent and emergency care – which must be gripped urgently".
BBC News
26-06-2025
- Business
- BBC News
Former Dundee University principal apologises to staff and students
Update: Date: 08:44 BST Title: What did the report say? Content: The independent report, external found the main causes for the deficit included poor financial judgement from university bosses and weak governance from the university court, which is meant to hold senior management to account. It found that almost £40m of ringfenced money had been spent elsewhere and there had been "a lack of real action" to address an £8m "hole" due to a fall in international student recruitment. The report said that those in charge of the university's governance should have known well before November last year that there was a problem. In the wake of the report's publication, the principal Prof Shane O'Neill resigned. He was identified in the report along with former principal Prof Iain Gillespie, the chief operating officer and the director of finance as one of the university leaders who "did not cultivate a culture of openness and challenge at all levels". Tricia Bey, acting chair of the university court, and Carla Rossini, convenor of the finance & policy committee, also left the university with immediate effect. Update: Date: 08:40 BST Title: Gilliespie insists he was a 'champion of the university' Content: Gilliespie says the Gillies Report was a "forensic piece of work", but he "does not recognise" the description of his management style. He says he was "always a champion of Dundee University" Update: Date: 08:38 BST Title: Staff and students 'deserved better' Content: Committee chairman Douglas Ross opens the questioning of Prof Gillespie by saying the Gillies Report into the the running of the university was "damning and particularly scathing" about the former principal. Gillespie says students and staff deserved better from their university, and he says he offers a "heart-felt apology". Update: Date: 08:34 BST Title: How did we get here? Content: In November, at a time when many Scottish universities were experiencing budget woes, Dundee University told staff that job cuts were "inevitable" as it faced a "significant deficit". The university's then principal Prof Iain Gillespie quit less than two weeks later and it emerged that the university had a £35m blackhole. Staff were informed of plans to cut 632 posts - about 20% of the workforce - by then interim principal Prof Shane O'Neill at a meeting in March. Union members voted in favour of three weeks of strike action in the face of potential compulsory redundancies. The cuts were later scaled back to about 300 voluntary redundancies. The Scottish Funding Council (SFC) approved a £22m support package in April and a further £40m was confirmed this week. And last week Prof O'Neill and two senior members of the university's governing body quit after a damning report revealed it's financial woes were "self-inflicted". Update: Date: 08:32 BST Title: Prof Gillespie apologises to Dundee uni staff and students Content: The evidence session is under way, and Prof Gillespie opens by apologising to University of Dundee staff and students. Update: Date: 08:30 BST Title: Welcome Content: Prof Iain Gillespie resigned as Dundee University principal in December last year Good morning and welcome to our live coverage of Holyrood's education committee as it continues its inquiry into the financial mismanagement of the University of Dundee. The university currently faces a £35m deficit and has said it must cut 300 jobs through a voluntary redundancy scheme. An independent report,, external published last week, said university bosses and its governing body failed multiple times to identify the worsening crisis and continued to overspend instead of taking action. This morning's evidence session is with Prof Iain Gillespie, the former principal and vice-chancellor of the university. Prof Gillespie resigned with immediate effect in December after telling staff the previous month that job losses were "inevitable". The evidence session begins at 08:30 and we'll bring you reports and analysis throughout. You can watch the committee live by clicking on the Watch Live icon at the top of the page.
BBC News
13-06-2025
- Business
- BBC News
Guernsey: States report £44m annual deficit in core services
The States of Guernsey's financial position remains "parlous", with a £44m shortfall in core services in 2024, according to Policy and Resources (P&R) President Lyndon comprised of a £9m deficit in General Revenue, £13m in Social Security Funds and £22m in non-infrastructure project spends, such as IT transformation, elements of the revenue service programme and electronic patient Trott gave the update ahead of the General Election, with the total underlying structural annual deficit for 2024 said to be around £56m."In October when we published our 2025 Budget proposals I described the state of public finances as parlous and that remains the case," he said. He said the States "cannot continue to rely on reserves built up in the past to fund the services of today and tomorrow".Deputy Trott said the new Assembly needed to "immediately focus its attention on the issue of improving public finances" adding "I cannot stress enough how important that is to the long-term prosperity of the island".Deputy Heidi Soulsby, Vice President of the Policy and Resources Committee, said the message was that "we are not raising enough through taxes to fund the services our community relies on"."The decision for the next States will not be whether something needs to be done, but what should be done to balance the books," she said the value of investments was important, as was the financial performance of commercial entities under the wider States of Guernsey group, "but they don't impact the amount of money we have available to deliver public services and invest in much-needed infrastructure". "The bottom line is we had a significant deficit in General Revenue last year," she added. Deputy Soulsby said the work the States did earlier in the year "shows a looming need to invest in essential infrastructure projects with funds to pay for only a fraction of that". 'Investment growth higher' News of the deficit came as the States of Guernsey investments were valued £130m higher at the end of 2024 than the previous year. A spokesperson said this did not mean that the public purse received £130m in 2024, but rather their value had increased by 31 December 2024. The 2024 States of Guernsey Accounts were set to be published on 23 March, Deputy Trott said the provisional General Revenue results for 2024 gave a revenue deficit of £9m, which was a shortfall of £21m against the budget.A States spokesperson said the 2024 Accounts were the first to be fully compliant with International Public Sector Accounting Standards and to be given a "true and fair" view by the auditors.
BBC News
22-05-2025
- Business
- BBC News
More Cambridgeshire County Council-run schools in debt
More Cambridgeshire County Council-run schools ended the financial year in debt compared to last year "due to extra spending on high needs support", a report Cambridgeshire Schools Forum heard 37 maintained schools ended 2024-25 in deficit compared to 31 last Wade, the council's strategic finance manager, said this was "unsurprising" because increased staff costs had "not been met with increased funding".There were also calls for any staff pay increase to be fully funded by government. The Department for Education has since committed to paying 3% of next year's 4% pay award. It has also been asked to comment on maintained schools running into debt. Of the 69 maintained schools that had submitted their budgets for the upcoming year, 57 had proposed using reserves to balance their books, Mr Wade told the forum on Wednesday. The forum gives schools greater involvement in the distribution of Brook, from the National Education Union, said it had been a "catastrophic" year for school redundancies and meeting also heard from school leaders concerned about paying for increased Howard, head teacher at Meldreth Primary School between Cambridge and Royston, said delays getting top-up funding for children with extra needs meant her school was having to pay out of its own budget for the necessary Wade said there had been delays in completing assessments and he recognised the impact this was having. 'Ridiculously late' Jonathan Culpin, chief executive of Anglian Learning multi-academy trust which includes 18 schools, told the meeting about the impact possible staff pay increases could have on school budgets if they were not fully funded by Secretary Bridget Phillipson said she would accept the independent teachers' pay body recommendation of a 4% pay would be expected to find the first 1% of that award, the government said. Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X.
Free Malaysia Today
20-05-2025
- Business
- Free Malaysia Today
Explain RM100mil cash advance, worsening finances, Guan Eng tells Chow
Lim Guan Eng said although Penang had reported a surplus of RM65 million as of March 31 this year, the figure dipped to RM43 million by May 2. (Facebook pic) GEORGE TOWN : Former Penang chief minister Lim Guan Eng is demanding that his successor, Chow Kon Yeow, explain the deterioration of the state's finances which led to the administration requesting RM100 million in advance from the federal government. Lim (PH-Air Putih) said the state's consolidated revenue plunged to RM50 million in 2024 from the RM1.15 billion recorded in 2019, representing a RM1.1 billion drop in five years. Penang's finances have come under scrutiny after it was revealed yesterday that the state took a RM100 million advance from Putrajaya to manage a potential RM500 million deficit. 'This shows a financial deficit due to excessive spending. Can we be given a detailed breakdown of how this money was spent?' Lim said during the debate on the motion of thanks to the governor in the state assembly today. The former finance minister said although the state had reported a surplus of RM65 million as of March 31 this year, that figure had already dipped to RM43 million by May 2. He said that while efforts to raise revenue and cut spending were welcome, they must not come at the cost of slashing any assistance to the public. Lim also questioned the state's debt to the Penang Development Corporation (PDC), which now stands at more than RM300 million. He said this was in contrast to Chow's 2023 claim that the state owed PDC nothing. 'How can the state suddenly owe hundreds of millions in under two years? Why was inaccurate information given to the state assembly?' he said. He criticised the handling of the controversial Batu Kawan land deal totalling 226ha. He said the land was first offered through direct negotiations to Umech Construction Sdn Bhd for RM646 million. After an outcry, the sale was cancelled and put up for open tender. The highest bid of RM818 million was offered by a consortium led by IJM Properties, but the tender was cancelled and re-tendered at a lower price. 'Is this true? Can we be assured that the land will now be sold for more than RM818 million?' he said. Lim also highlighted delays in the RM21.6 million Jalan Tok Kangar to Juru Auto City road widening project undertaken by PDC, which started in 2019 and is only expected to be completed by end-2026. He asked why there was a lack of enforcement against contractors and whether PDC officers were being held accountable. Separately, he asked for an annual RM10 million allocation to the RIBI (non-Islamic houses of worship) trust fund, saying that only RM12.2 million had been disbursed since 2018, or less than RM2 million yearly.
