Managing financial resources to deliver public services
The Stationery Office, Feb 20, 2008 - Administrative agencies - 46 pages
This report examines the management of financial resources to deliver better public services effectively. Divided into four parts, with appendices, it looks at the following areas: Part 1: The importance of managing financial resources; Part 2: Developing the skills and awareness necessary for effective financial resource management; Part 3: Improving departments' use of techniques and practices for managing financial resources; Part 4: The impact of improved management and financial resources. Financial rsource management is relevant to every aspect of a Government department's business. By 2010-11, central government spending is forecast to grow to £678 billion, which represents £11,000 for every person in the UK. The NAO has set out a number of findings and recommendations, including: that the lack of financial skills and awareness amongst non-finance staff remains a significant barrier to improving the management of financial resources across government; that some departments lack a qualified Finance Director at Board level; that senior managers in many departments are not provided with incentives to promote sound management of financial resources; that Departments could do more to improve their forecasting capabilities; that some Departments are not sufficiently well placed to integrate financial and operational performance information; that many Departments do not always ensure the full assessment of the financial implications of policy proposals.
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Improving departments use of
accruals-based accounting agencies and non-departmental assessment assets Audit Office survey billion budget holders Cabinet Office cent of departments central government departments challenge Comprehensive Spending Review Comptroller and Auditor costs deliver better public departmental Boards Departmental Expenditure Limit departments consider End Year Flexibility example Excess Vote Fast Stream final provision finance function finance professionals Finance Skills finance team financial and operational Financial Audit Financial Management Reviews financial reports financial resource management forecasting HM Treasury identify impact in-year reports integrating financial interviews Ipsos MORI management of financial Ministry of Defence NAO Report National Audit Office non-departmental public bodies non-Executive Directors non-finance staff number of departments operational performance information organisation outturn Parliament Permanent Secretary Pre-Budget Report priorities progress Public Expenditure public sector qualified Finance Director resource accounts resource Departmental Expenditure senior civil servants service delivery skills and awareness Skills for Government strong financial summer recess Supplementary Estimates target Treasury's underspend value for money