Decision details

LG Improve Financial Benchmarking and Resilience Service.

Decision Maker: Joint Strategic Director Finance (S151)

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

The service provides the most cost-effective way to access our financial analysis giving you the most up to date, in depth analysis of your finances available anywhere.
The service includes:
• 7 models (including our newly created Balance sheet model) diagnosing your financial health in unparalleled detail.
• Customised analysis specifically for your authority, regularly updated throughout the year
• Current and historic patterns, trends developments that affect your funding position
• Key messages for senior leadership, members and other stakeholders all based on factual, verified data.
• Areas of concern, anomalies and actions to take, clearly explained
• A personalised session on interpreting the data, trends and benchmarking.
• Access to our member-only webinars and MTFS sessions throughout the year

Reasons for the decision:

The service provides the most cost-effective way to access our financial analysis giving you the most up to date, in depth analysis of your finances available anywhere.
It enables robust financial decision making.

Alternative options considered:

Information is available via RO and RA forms but the degree of accuracy is to high to be of use.

Source of Authority to take Decision:

Council Constitution dated 13th June 2024, Part 3, Page 1-42, paragraph 1(a)
To undertake the day-to-day management and operation of staff reporting to them and of
the premises and services for which they are responsible in accordance with the policies
and procedures laid down by the Council, including:
(a) incurring expenditure within approved budgetary provision,

Publication date: 08/07/2024

Date of decision: 08/07/2024