In the watchdog's local evaluation of the use of NHS resources, 69% of trusts scored ‘well' or ‘strongly'. Nine trusts in England were unable to meet minimum standards in financial stability - seven of which are in London.
Only six trusts and Buckinghamshire PCT remain in financial deficit, according to the report.
However the Audit Commission's managing director of health, Andy McKeon said many trusts were still 'struggling to plan for the future', and that PCTs could 'do more to improve the productivity of the community services they provide'.
The NHS in England reported a surplus of £1.74bn in 08/9, up from £1.67bn in 2007/8 - roughly 2% of total NHS spending.
