The Budget Process
Review and reporting
The Council's Financial Manager has to report on the resilience of the budgets and the position on reserves. A view is taken on the Council's finances over a three year period.
The budget process involves a review of the Council's activities and provides an opportunity to change things where appropriate, in the process of continuing improvement.
As an example, in February 2005 the Council approved the outsourcing of various functions in a new partnership with a private sector company (Liberata) which will provide a major boost to regeneration in Nelson town centre and bring further jobs to the town.
At year end, variations between budgets and outcome are reported to the Council's Accounts and Audit Committee, along with explanations as appropriate. The final accounts are the subject of audit by an external auditor who reports separately to the Council.
