Use of Resources
Assessment
Each year the Audit Commission assess how councils manage
their finances and deliver value for money.
The
Use of Resources Guidance for councils' explains the
approach to the use of resources assessment, including a
new value for money section. The 5 areas assessed are:
- Financial reporting - how good the council's accounting and reporting arrangements are;
- Financial management - how well the council plans and manages its finances;
- Financial standing - how well the council safeguards its reserves;
- Internal control - how the council's internal control arrangements manage its significant business risks;
- Value for Money - whether the council currently achieves good VFM and how will it manages and improves VFM.
The
Use of Resources Key Lines of Enquiry
set out the areas covered by the assessment in
detail. They include the standards expected for different
levels of performance.
The Council, like other single tier and county councils, is
statutorily required to complete and return a value for money
(VfM) self-assessment every year. The assessment then takes
place in time to be included in the CPA score in December each
year.