Bosses at Greater Lincolnshire’s hospital trusts have set end of year deficit targets totalling £95.7 million.
Both United Lincolnshire Hospitals Trust (ULHT) and Northern Lincolnshire and Goole NHS Foundation Trust (NLaG) agreed plans with regulator NHS Improvement (NHSI) in an effort to keep their overspends down.
Both organisations are still in financial special measures and racked up a total deficit of £146 million in the last financial year.
ULHT has set a £70.3 million target for 2019/20, as well as cost saving measures of £25.6 million.
Paul Matthew, interim director of finance and procurement at the trust, said the organisation needs to meet the plan in order to receive further funding.
“NHS Improvement issued the trust with a control total for the year,” he said.
“This requires the trust to deliver a deficit of £70.3 million in 2019/20.
“Once achieved, the trust would get access to further non-recurrent funding of £28.9m, which would then reduce the deficit to £41.4 million.”
Last year trust bosses recorded an overspend of £88.2 million, which was within its plan.
Mr Matthew said the trust will reduce the 2018/19 deficit by £18 million through its efficiency programme, which includes reductions in workforce costs.
Meanwhile, bosses a Northern Lincolnshire and Goole NHS Trust (NLaG) are expecting a deficit of £25.4 million.
The trust agreed the target with NHSI after it was initially offered a plan for a £15.4 million overspend.
A spokesperson for NLaG said: “By accepting the control total, additional income is available to the trust centrally which will reduce our deficit to £25.4 million.”
The trust recorded a £58.11 million deficit last year which was £26.82 million over its target.
Dr Peter Reading, chief executive of NLaG, described the last financial term as a “very difficult year” for the organisation.
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