Report by The Audit CommissionThe report stresses that core financial disciplines are more important than ever in the move from Compulsory Competitive Tendering to Best Value. It describes how local authorities should approach the financial management of trading units under Best Value, highlighting the lessons learnt from the final years of CCT when a number of authorities experienced severe difficulties with their Direct Labour Organisations and Direct Service Organisations. Its main findings include the requirement for annual business plans of trading units to be approved by council members and the key role of Finance Directors.
Getting the Groundwork Right – financial health for local authority trading units. ISBN 1862402043) is available from Audit Commission Publications on freephone 0800 502030, priced 15 pounds.