Managing money and resources
The council is responsible for ensuring that its business is conducted in accordance with rules and regulations, and that public money is safeguarded and accounted for properly and used economically, efficiently and effectively.
In discharging this overall responsibility, the council has put in place, a system of internal controls, facilitating the effective use of its resources whilst managing elements of risk.
The following measures help to ensure compliance with statutory rules and regulations:
- Internal audit – the council’s own Audit and Assurance section reviews annually, the effectiveness of the system of internal control.
External audit, CPA and Use of Resources Assessment - the council is required to produce annually, financial statements that are audited independently. The Annual Audit letter outlines the external auditor’s opinion of the council’s financial statements. The Audit Commission introduced Comprehensive Performance Assessment (CPA) in December 2002 (refined in 2006) that measures how well councils are providing and improving the services they provide to local communities. There are a number of elements that are measured within the CPA framework, and the use of resources element measures how well the council manages its finances and provides value for money.
Asset Management Plan (AMP) – the Asset Management Plan provides an overview of the council’s property portfolio and describes the systems, processes and policies to optimise the management and maintenance of its assets.
Anti fraud and corruption – there are a number of ways in which the council is subject to external fraud and through its proactive anti fraud and corruption functions and responsibilities, helps to prevent fraudulent activity against the council and ultimately, local tax payers.