Information on CIPFA's Financial Management Model
The FM Model is an online analytic toolkit helping public bodies transform and improve their financial performance.
It allows you to assess the financial management and sustainability of your organisation. This is crucial if you are seeking to transform your organisation to robustly prepare for change in a challenging era.
Recently revised, the FM Model helps you review your financial management, either your organisation as a whole or a particular aspect of financial management that you wish to improve.
How can the FM Model help you?
The FM Model allows you to both identify weaknesses within your organisation and confirm its strengths. It will help you develop and put in place a target-driven plan. This will allow progress to be closely monitored.
The FM Model has been completely updated to reflect today's public sector. Issues such as business partnering, a commercial focus, governance, procurement and the CFO's role are now reflected. And it has now enhanced functionality, an improved online diagnostic and is faster to complete and more intuitive. The FM Model will help you with:
- sound decision making and accountability
- improved understanding of finances
- enabling businesses of all kinds to manage their risks
- an assessment of total financial management capability
- providing the finance function with focus
- identifying efficiency gains by accurately pinpointing weaknesses and confirming strengths.
View the Introduction to the Financial Management (FM) model
Case study
"Real honesty is recognising that you are not in a good place, and then doing something about it. The FM Model and review gave us a real focus and action plan with logical steps which we stuck to for three years. CIPFA's independent review gave me the confidence I needed to make significant changes... and it lent energy, enthusiasm and confidence to our strategic plan."
Paul Layland, Director of Finance, Office for National Statistics
Case study: how did Paul transform the financial performance of the ONS?
What they say
Excellent value for money and information at my fingertips… for this kind of information, you could easily spend four times as much on consultants coming in to tell you exactly the same thing." – Margaret Lee, Section 151 Officer and Executive Director for Corporate and Customer Services, Essex County Council
"The value was credibility within the organisation of a respected independent professional body, carrying out a review of the financial environment within the organisation against best practice standards." – Derek Lindsay, Director of Finance, NHS Ayrshire and Arran, Ayr
"A very useful benchmark of the organisation’s financial management and where improvement is needed the most… a must for senior management wanting to make sure they are in the strongest possible position in these financially challenging times." – Nigel Addison Smith, Finance Director, Exports Credit Guarantee Department
- Download CIPFA's Insight thought-piece on transforming the finance of public bodies: 'Accountability, Performance and Transformation' [PDF, 1,078 KB].
Who uses the FM Model?
- Over 300 central government departments, government agencies and local government bodies in the UK and abroad.
- Central government departments include HM Treasury, the Ministry of Justice and associated departments, HM Prison Service, HM Court Service and the Tribunal Service.
- 240 local authorities and 26 health boards.
- The FM Model is also used extensively in North America and the Middle East and is being piloted in New Zealand – view how FM Model is used internationally.
Start your journey to financial transformation
- Contact John O'Halloran, head of CIPFA's advisory team, or anyone in his team to discuss how we help you with financial resilience: customerservices@cipfa.org or 020 7543 5600
