Description
Every elected councillor is responsible for ensuring that their council has effective financial governance, yet local government finance is viewed by many as difficult to get to grips with. These online training sessions are designed to provide elected councillors with a thorough grounding in the key elements of local government finance and funding. Officers new to or who need to understand local government finance will also benefit from attending.
If you are new to local government finance we recommend that you attend our introductory workshop on local government finance for Councils. No prior experience is required and all jargon is explained!
The remaining 3 online training workshops build on the learning from the previous introductory session.
Session 1: An Introduction to Local Government Finance in England
2 November 2022: 12:15-13:45
- Understand how local councils receive their funding
- Learn the role of elected councillors in financial governance as well as the overall national legal and policy framework affecting council budgets
- Grasp key concepts and terminology such as capital and revenue, general fund and the Housing Revenue Account (HRA), reserves and balances.
- No prior experience is required and all jargon is explained!
Session 2: Understanding your Council’s MTFS, Annual Budget and Budget Monitoring Reports
17 November 2022: 12:15-13:45
NB: this session is case-study based. Participants will need to have access to their council’s latest Medium-Term Financial Strategy, Annual Budget and Budget Monitoring reports.
By the end of the session, participants will:
- Have a detailed understanding of the financial planning and control process at your council.
- Begin to formulate lines of questioning on key local issues and concerns highlighted through your review of these key council documents.
Session 3: Financial Planning and budgeting
24 November: 12:15-13:45
By the end of the session, participants will:
- Understand the immediate and potentially ongoing financial effects of the pandemic and the cost of living crisis on your council’s finances
- Understand the financial planning and control process at a typical local council.
- Appraise and evaluate how councillors can most effectively influence budget and spending decisions.
Session 4: Understanding your Council’s Annual Financial Statements
7 December 2022: 12:15-13:45
NB: this seminar is case-study based. Participants will need to have access to their council’s latest published Annual Financial Statements.
By the end of the session, participants will:
- Understand the importance of the council’s Annual Financial Statements and the various roles and responsibilities in their preparation, review and approval.
- Have a better understanding of how to read the Financial Statements and find key financial information more efficiently.
- Be able to better understand, engage with and review this document.
