Avoiding a serious financial situation
We offer free finance training advice. Whilst Northamptonshire County Council (NCC) faces a serious financial situation (BBC 6th February 2018), it should have come as no surprise given their recent financial statements. Not only were there deficits arising from operations but also the balance sheet shows liquidity issues. When current assets are less than current liabilities all officers should be concerned about how the bills will be paid. In many organisations, sometimes there is a woeful lack of financial awareness and understanding amongst senior managers, resulting in a “head in the sand” approach to budget management and control. Budget holders are often not aware of the “big picture” in respect of the financial position of their organisation, and training is often an easy target for budget cuts. The cost benefit of an investment in financial training for all staff that spend an organisation’s money is immeasurable. Council’s such as NCC should, and must ensure that managers are not only competent in the area of their business but also have financial
