Transforming our service - Finance

Finance

Long term actions for next strategy period
  • Consider implementing a new finance system, incorporating potentially the payroll (and potentially HR function) to enhance business operations.
  • Introduce Finance Business partners to support a more streamlined approach to enable more effective budget management, forecasting and planning.
  • Continue developing and enhancing the support to deliver a more customer focused service on pensions and payroll, recognising the relevant pensions/pay legislation.
  • Continue to retain financial flexibility to be in a strong position to be able to adapt to the anticipated financial challenges ahead, both national and locally.
  • Continue to enhance the benefits of being part of an insurance mutual, through increased collaborative working.
  • Support the efficiency agenda with help to teams on defining types of efficiency.
  • We will move to having asset data in the appropriate systems, and system owners with linked codes to allow payment in Business World.
Measures
  • Regular modelling of options and financial scenarios over the medium term, including potential areas of savings
  • Keep abreast of national issues which could affect the financial future of the organisation.
  • Ensure sustainable succession planning of the necessary skill sets within the Finance Team
  • Improved forecasting of spend against the relevant capital and revenue budgets.
  • Receipt of the Auditors statement of assurance annually and unqualified accounts each year.
  • Strong focus on governance and application of Internal Controls.
  • Drive collaborative working to gain longer term benefits for the organisation.
  • Technical efficiency and productivity gains.

Property

Long term actions for next strategy period
  • Develop a long-term estate optimisation plan to ensure that our buildings best meet the needs of our business. 
  • Implement new service contracts to ensure continued best use of resources and value for money. 
  • Continue to explore and implement opportunities to decarbonise our estate, working towards carbon neutrality.
  • Roll out new helpdesk system for effective measurement and management of property defects, allowing us to do more with the same resources.
  • Continue carrying out projects to improve inclusivity across our estate.
Measures
  • Clearly communicated property related services SLAs and KPIs with our internal customers. 
  • Percentage carbon emissions reduction. 
  • Compliance with external audit. 
  • Trend analysis for repeat failures for key building assets, improving our resilience and budget forecasting.
  • Percentage completed internal accessibility audits.
  • Technical efficiency in any estate reduction or sharing. 
  • Surveys on colleagues’ experience of using our estate including PIA.
  • Quantifiable but non monetisable benefits in any savings through contract management or asset management

Fleet

Long term actions for next strategy period
  • Relocate fleet operation to premises fit for purpose that improves efficiency.
  • Move to alternative fuels and more efficient fuel consuming vehicles.
  • Replace existing fleet management system to improve fleet replacement and fleet optimisation.
  • Replace existing telematics system and introduce practices to improve and encourage better driver behaviours.
  • Improve conditions and succession planning for colleagues to better attract and retain.
Measures
  • Increase in fleet availability.
  • Increase in productivity – productivity gains, technical efficiencies and quantifiable but non monetisable benefits
  • Improve vehicle utilisation rates and ensure we have the right vehicles for the right tasks, with potential cashable savings.
  • Reduction in CO2 produced by fleet.
  • Even out the spend in the vehicle replacement programme.
  • Improve information on driver behaviour to allow interventions, reduce collisions, reduce fuel consumption, and keep the public and colleagues safe.
  • Successful recruitment processes that attract the correct skills and competencies for a highly specialised fleet.
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