Financial Information
As an advisory Non-Departmental Public Body, the Committee receives its delegated budget from the Cabinet Office. The Cabinet Office Accounting Officer has personal responsibility for the regularity and propriety of the Cabinet Office Vote. However, the responsibility for certain levels of authorisation, methods of control and day-to-day management are delegated to the Secretary to the Committee, who:
- manages the budget allocation to meet the objectives agreed with the Cabinet Office
- sets out the Committee's aims with the resources allocated
- reports regularly on resource use and success in delivering plans.
The Secretary must also ensure that the Cabinet Office Resource Accounting System holds accurate forecasts of the planned expenditure and accurate records of the profiled delegated budgets and actual expenditure. The Secretary is responsible for maintaining a sound system of internal control over delegated expenditure and for providing the Accounting Officer with assurances that those controls are effective. That means:
- Demonstrating value for money in delivering planned outputs and outcomes
- Identifying and managing risks to the successful delivery of the plans, or to the management of resources according to the required standards of regularity and propriety
- Meeting departmental requirements, and any additional requirements which may apply - including both financial and non-financial (e.g. health & safety, security) requirements
- Safeguarding assets
- Notifying Cabinet Office Financial Management Division of all losses, special payments, loans or gifts. Irregularities include frauds, or breaches of the provisions of Government Accounting or operates.
- Ensuring all those who manage resources are aware of their responsibilities, have clear, written delegations of authority, and the necessary knowledge and skills to carry out their responsibilities.
The Secretary must provide an assurance statement to the Accounting Officer stating that there is an effective system of internal control operating within the management unit during the whole of the relevant period. In the Cabinet Office, the requirement is to provide two statements each year.
Payment Performance
The Committee is committed to complying with HM Treasury's guidance on measuring and targeting of performance in the paying of invoices.
The Committee's policy is to pay bills in accordance with the terms of the relevant contract or within 30 days of receipt of a valid invoice. The 30 days are measured from the date at which the invoice was received into the office.
