Our peer-led finance offer uses expertise in the sector, and includes a finance peer review, financial health check; budget challenge; and other tools to allow councils to assess their own financial position and consider their financial strategy.
Every council is aiming for a financially sustainable future, while dealing with the problem of balancing the books from year to year, but for each one the solution will be different.
Our Finance Improvement & Sustainability Programme uses LGA advisers – all of them former local authority chief finance officers- who are available to give advice and insight to councils facing financial challenges. Our advisers can provide a Financial Health Check on the council or support in challenging you budget. Alternatively we can provide experienced member peers who can work with councillors to help them understand the budget challenge they face.
The Finance Peer Review is a form of specialist peer challenge that dovetails closely with the Corporate Peer Challenge and looks at how councils are setting the strategy, making the decisions required and implementing the changes that will give them the best chance of balancing the books in the medium and long term.
The review involves financially experienced peers.
The review involves financially experienced peers and focuses on five areas:
- financial strategy, planning and forecasting: does the authority understand its short and long-term financial prospects?
- decision-making:are key decisions taken in the understanding of the financial implications, risks and options?
- financial outcomes: are financial results (including those of the Council’s capital investments and transformation projects) monitored and acted upon so as to realise the authority’s intentions?
For more information, please contact your regional Principal Adviser.