Budget failure adds to IBTS deficit

A report into the finances of the Irish Blood Transfusion Service has found that a failure to budget properly contributed to a €4.5m deficit in the year 2000.

The Comptroller and Auditor General's report also said the IBTS had severe cash-flow problems during 2000 and 2001, which resulted in it paying interest penalties of more than €320,000 to suppliers.