Barnet's latest supplier payments have been published with a total of £58.28 million spent last month. There were very modest payments for Capita (£620k) and Re (£382k) as no quarterly contract payments were made. What is of real concern is the continuing cost of agency and interim staff. Payments to Comensura were £1.5 million in July but I have also seen their payments for August which were published yesterday. All the indications are that the total bill for the year is likely to hit £19m, a million more than last year. Barnet have a massive financial black hole and interim and agency staff costs are just one area that have to be reduced significantly if they are to meet the cost saving targets. If this is an indicator of the ability (or inability) to deliver the other cost cutting measures, I suspect that the financial crisis may hit sooner than we think.
Usual month charts and updates below.