Supplementary A - London Borough of Hillingdon
Supplementary A - London Borough of Hillingdon
Supplementary A - London Borough of Hillingdon
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8 Use <strong>of</strong> Resources Judgements │ Theme summaries<br />
Financial management<br />
Theme score: 3<br />
Key findings and conclusions<br />
The Council’s arrangements for compiling its medium term financial strategy<br />
and annual budget are robust and embedded. Budget monitoring is sound<br />
and the Council’s swift response to the recent unexpected shortfall in asylum<br />
seeker funding, demonstrates the effectiveness <strong>of</strong> its financial management<br />
arrangements. The Council has good arrangements in place for managing its<br />
asset base, including a detailed assessment <strong>of</strong> backlog maintenance and<br />
replacement <strong>of</strong> specific assets resulting in savings to the Council.<br />
Improvement opportunities<br />
KLOE 2.1 The Council’s<br />
medium-term financial strategy<br />
(MTFS), budgets and capital<br />
programme are soundly based and<br />
designed to deliver its strategic<br />
priorities.<br />
KLOE 2.2 The Council manages<br />
performance against budgets.<br />
KLOE 2.3 The Council manages<br />
its asset base.<br />
• The next use <strong>of</strong> resources assessment<br />
will include new criteria. These include<br />
monitoring cash-flow to inform short<br />
and long-term investment decisions<br />
and the communication <strong>of</strong> the key<br />
messages in the Council’s medium<br />
term financial strategy to staff and<br />
stakeholders, as appropriate.<br />
• Ensure the financial performance <strong>of</strong><br />
partnerships is robustly monitored and<br />
linked to outputs.<br />
• Continue to identify operational activity<br />
indicators that are lead indicators <strong>of</strong><br />
spend and use these in budget setting<br />
and monitoring.<br />
• Ensure there are clear plans to<br />
address the significant backlog in<br />
asset maintenance <strong>of</strong> £24m.<br />
• Ensure external benchmarking is<br />
conducted with the results<br />
communicated meaningfully to<br />
stakeholders.<br />
• Ensure there is clear information<br />
available to identify how asset<br />
management has contributed to<br />
addressing identified gaps in property<br />
provision.<br />
• Develop clearer links between asset<br />
management information and relevant<br />
organisational financial information.<br />
<strong>London</strong> <strong>Borough</strong> <strong>of</strong> <strong>Hillingdon</strong>