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Although the majority of NHS hospital and primary care trusts are improving in terms of financial management, 20 have been found to be falling below minimum government standards, the Audit Commission has said.
A performance review in 2007/08 examined the financial competency of all 302 NHS trusts in England, with seven per cent being found to have scored the worst possible grade.
However, this compared favourably with 31 per cent the previous year, while a surplus of £1.65bn was recorded in the NHS at the end of 2007/8.
Of these 20 worst-performing trusts, 12 have not managed to meet the minimum standards expected by the government for the past three years.
In general, the commission found there is good financial practice across the NHS with 93 per cent of trusts at least meeting the minimum standards or exceeding them.
Michael O'Higgins, chairman of the Audit Commission, said: "The improvements in the way that NHS trusts and PCTs have managed their money in the past year are impressive.
"Financial management in the health service had been in poor shape, but better use of resources locally has made a difference."
A maximum score of four out four – which is described as 'perfoming strongly' – was achieved by just 14 trusts, or five per cent.
Dods Parliamentary Communications Ltd