Financial Outcomes
There are three key financial outcomes:
Aligning resources to our priorities
This is about allocating resources to priorities by:- reallocating resources from areas of a lesser priority to free up some capacity to reinvest.
- making the most of the decreased resources at our disposal by identifying and realising savings.
Transforming our services
We must be able to demonstrate that our expenditure and investments are based on objective decisions. We must also ensure we deliver the business benefits we planned to get from any expenditure and investment. This may be in the form of improved or greater service levels, reduced costs, or return on investments and assets.
Optimising Revenue Income (RIO)
This is about:
- identifying any service areas where charges are not optimised and to introduce revised charges where appropriate;
- identifying any services for which it would be appropriate to charge but where no charge is currently made, and to introduce new charges where appropriate;
- reviewing the nature of concessions and how they can be better targeted to support the delivery of council outcomes;
- increasing revenue by exploring trading opportunities where we can provide our services to other organisations.