Budget and Performance
Panel
Composition:
Nine Councillors in political balance.
Members of
the Committee shall not be members of the Cabinet.
The Chair
of Budget and Performance Panel will be appointed by Council
annually. Only non-Cabinet members are
entitled to vote for the Chair.
The Chair
and Vice Chair shall not be members of the largest political group
which has Councillors on the Cabinet.
Terms of
Reference
1.1
To scrutinise the Council’s arrangements and
performance in relation to financial planning, including budget /
target setting, e.g. items within the
Budget Framework including reviewing the effectiveness of
the:
(a)
budget setting process;
(b)
contents of the Medium
Term Financial Strategy (MTFS);
(c)
Capital Investment Strategy; and
(d)
financial targets in the Council Plan.
1.2
To review the management of resources by
scrutinising the Council’s financial performance in year
against agreed budgets or other targets. e.g.:
(a)
capital and revenue spending against approved
budgets;
(b)
specific activities including treasury management,
generation of revenue and capital income targets; and
(c)
monitoring of financial savings/efficiency targets
(including within the MTFS).
(d)
monitor the delivery and effectiveness of Service
Level Agreement targets;
(e)
assess performance against key performance
indicators and benchmarks; and
(f)
assess whether services are delivering their
expected outcomes.
1.3
To review the effectiveness of the Council’s
overall performance management arrangements in relation to
partnership working and to scrutinise the performance of the
Council’s major partnerships.
1.4
To scrutinise the Council’s policies and
procedures and other supporting arrangements for securing value for
money (i.e. economy, efficiency,
effectiveness) e.g.:
(a)
value for
money strategy;
(b)
procurement
practices;
(c)
income
management and collection arrangements;
(d)
asset
management practices; and
(e)
insurance
arrangements.
1.5
To consider risk management issues in reviewing and
scrutinising performance.
To make recommendations, as
appropriate, in respect of the above.