Efficiency and value for money

We have always demonstrated good financial management and governance, as shown by both external and internal audit reporting. Nonetheless, the tightening fiscal landscape has placed the finances of some fire and rescue services (and other local authorities) under intense pressure. Good financial management is an essential element of good governance and something which underpins our planning.

The Chartered Institute of Public Finance and Accountancy – who are the professional institute for accountants working in the public services and other bodies where public money needs to be managed – has issued the ‘Financial Management Code’ which is based on six core principles:

  • Organisational leadership – demonstrating a clear strategic direction based on a vision in which financial management is embedded into the organisational culture.
  • Accountability – based on medium-term financial planning that drives the annual budget process supported by effective risk management, quality supporting data and whole life costs.
  • Financial management is undertaken with transparency as its core using consistent, meaningful and understandable data, reported frequently with evidence of periodic officer action and elected member decision making.
  • Adherence to professional standards is promoted by the leadership team and is evidenced.
  • Sources of assurance are recognised as an effective tool mainstreamed into financial management, including political scrutiny and the results of external audit, internal audit and inspection.
  • The long-term sustainability of local services is at the heart of all financial management processes and is evidenced by prudent use of public resources.

We strive to deliver value for money in all its forms. This does not mean always accepting the lowest price, and the social value ethos of potential suppliers is also taken into account. Throughout our strategies are examples of ways we will look for value for money, through broadening the range of services we provide, to changing how we use our fleet and buildings, and how we buy goods and services. We have also published an efficiency statement which is available on our website. This contains much more detail on how we have achieved value for money in the last year.

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