Our financial resilience advisory report is vital in helping avoid risks of s114 notices for any authority that feels it may be at risk.
We will use our members, assets and partners to help you gain an expert opinion on your organisation’s current financial resilience. The report is targeted as much at council chief financial officers (CFOs), who feel their council is reasonably well set to face the future, as for those councils who fear their financial resilience is under threat in the short term.
The report is based on experienced professional insight, typically from experienced CFOs coupled with CIPFA’s unique range of diagnostic tools.
This is an example of CIPFA and CFOs working together to support other CFOs and maintain the proud record of financial governance across the whole of local government.
Our new approach developed with the sector, centres around a report typically commissioned by the CFO as a corporate initiative, and includes:
- a process and report heavily based on the professional insight, judgement and experience of expert CFO’s, supported by CIPFA’s unique range of networks and diagnostics
- a tailored set of pre-report diagnostics, including demographics, revenue and grant projections, outlier benchmarking, balance sheet opportunities and commercial income
- on-site review team including two experienced peers, including at least one CFO. This can be complemented by a CEO or peer external to local government (eg NHS) as agreed, to test financial projections and transformation plan delivery, as well as short and medium-term prospects together with any proximity to s114.
- The report is an independent professional assessment of financial resilience.
- We offer advice on next steps to improve your organisation’s financial resilience.
- We will keep your results strictly confidential.