FSA spends extra £3m on contractors but stays under budget

Staff costs, which include training, travel and recruitment, were £329.3m in the last financial year, above the regulator's budgeted 325.9m, according to the FSA's annual report, published today. The FSA said this was due to "significant" levels of project activity and "challenges experienced in recruiting permanent specialist resources". However, in total, the FSA's net costs for the year were £451m, some £7m under budget. During 2010/11, £464.2m in fees was raised directly from fee payers, almost £30m more than the previous year's £435.5m. Overall, surplus funds of £6.2m were ...