Financial management

Information on the CIPFA Solutions financial management service

Why is financial management relevant to the public sector

The financial challenges facing the public sector have never been greater or more pressing. Effective financial management and support had never been so vital in ensuring sustainable and resilient public services in the face of unprecedented pressures.

What CIPFA has to offer in support of the public sector on financial management

CIPFA Solutions has a unique position as the “standard setter” of local government finance, as well as a wealth of experience and expertise in supporting councils increase their financial resilience and developing their financial capabilities. We can provide financial resilience reviews, value for money assessments, finance capability and capacity assessments and training, workforce assessments and help guide organisations through financial recovery plans and statutory and accounting processes.

How CIPFA has helped other organisations with their financial management

We have worked with over 400 public sector organisations in the UK and globally, in places such as Australia, Canada and Europe. Over the past few years we have reviewed the financial operations of over 130 financially challenged councils in the UK, and are the ‘go to’ advisors when councils need help.

How we can help

CIPFA Solutions work with Central Government to provide support to and assess the financial resilience of local authorities, including supporting them on S114 notices and recovery and improvement plans. Our reviews assess the local authority’s financial management approach, risk management arrangements, borrowing activity, savings plan, efficiency in service delivery, and the capacity and capability of the finance team. We make recommendations to improve financial management, assess financial pressures and an authority’s ability to manage them without additional borrowing. We propose, where appropriate, carefully timetabled asset disposals to generate capital receipts, judge capitalisation requirements delivered through the EFS process, assess how this could limit new borrowing and examine commercial activities and arrangements where appropriate.