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The ‘Local Authority Budget Manager Survey 2012/13’ highlights that 82 per cent of local authority finance professionals use Excel for their budget preparation, monitoring and forecasting with 78 per cent of these admitting reliance on spreadsheets.
Dean Dickinson, Managing Director of Advanced Business Solutions (Public Sector and Enterprise) says, “It’s concerning that such a high percentage of local authority finance professionals are reliant on spreadsheets for their budget monitoring. Spreadsheets are prone to inaccuracies, cannot provide real-time financial information and are very cumbersome and time-consuming to manage.”
The survey also reveals that 46 per cent of respondents take more than one day to produce revenue budget reports with 24 per cent of these taking more than two days. In addition, the top three budgeting priorities highlighted by survey respondents include cutting the authority’s costs (92 per cent), gaining an accurate picture of real-time spending against budget (56 per cent) and giving more responsibility to budget holders (51 per cent).
Furthermore, 67 per cent of respondents are working closer with others on their budgeting processes as a result of the current, challenging financial situation, highlighting that 33 per cent of local authority finance professionals could be working more collaboratively on their budgeting and forecasting processes.
Dickinson says, “To achieve cost savings, real-time financial information and greater budget holder responsibility, it’s vital to have suitable software solutions in place. Excel spreadsheets should not be relied on for budgeting and forecasting as they cannot provide an instant and accurate view of current and forecasted spend and are at risk of errors, raising questions over the integrity of the data. Local authorities need to replace spreadsheets with smart, versatile and collaborative budgeting and forecasting software solutions.”
79 per cent of survey respondents expect their budget monitoring processes to improve over the next three years, with reduced reliance on spreadsheets being cited as one of the top improvements sought by respondents. The anticipated improved budget monitoring processes may also be due to more councils considering devolving budgets down to local/neighbourhood committees in light of the Localism Act (2011). According to the survey, 56.9 per cent of respondents either have local/neighbourhood committees, are looking to introduce them or they are under consideration.
Roman Haluszczak, CPFA – Senior Manager, CIPFA Finance Advisory Network, adds, “The survey results suggest that the majority of local authority finance professionals are aware of their budgeting and forecasting challenges. With 92 per cent of survey respondents under pressure to cut costs, this will be a key driver for seeking process improvements and reducing Excel spreadsheet dependency.”
About CIPFA
CIPFA, the Chartered Institute of Public Finance & Accountancy, is the professional body for people in public finance. The Institute’s 14,000 members work throughout the public services, in national audit agencies, in major accountancy firms and in other bodies where public money needs to be managed effectively and efficiently. As the world’s only professional accountancy body to specialize in public services, CIPFA’s portfolio of qualifications are the foundation of a career in public finance.
About Advanced Business Solutions www.advancedcomputersoftware.com/abs
Advanced Business Solutions (Advanced) provides leading integrated business applications and services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies whilst continually improving corporate performance. Advanced prides itself on getting close to its customers by understanding their businesses and responding to their evolving needs.
Advanced’s software systems comprise core accounting/financial management, procurement, human resource and payroll systems, integrated with a range of collaborative, document management and business intelligence solutions to extend the value and effectiveness of the finance, human resource and payroll departments. These can be delivered as a managed or bureau service.
Customers are from both the public and private sectors and include Companies House, Newcastle City Council, WH Smith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS, RSPB and Great Ormond Street Hospital for Children NHS Trust.
Advanced Business Solutions is a division of Advanced Computer Software Group plc, a leading supplier of software and IT services to the health, care and business services sectors.
Dean Dickinson, Managing Director of Advanced Business Solutions (Public Sector and Enterprise) says, “It’s concerning that such a high percentage of local authority finance professionals are reliant on spreadsheets for their budget monitoring. Spreadsheets are prone to inaccuracies, cannot provide real-time financial information and are very cumbersome and time-consuming to manage.”
The survey also reveals that 46 per cent of respondents take more than one day to produce revenue budget reports with 24 per cent of these taking more than two days. In addition, the top three budgeting priorities highlighted by survey respondents include cutting the authority’s costs (92 per cent), gaining an accurate picture of real-time spending against budget (56 per cent) and giving more responsibility to budget holders (51 per cent).
Furthermore, 67 per cent of respondents are working closer with others on their budgeting processes as a result of the current, challenging financial situation, highlighting that 33 per cent of local authority finance professionals could be working more collaboratively on their budgeting and forecasting processes.
Dickinson says, “To achieve cost savings, real-time financial information and greater budget holder responsibility, it’s vital to have suitable software solutions in place. Excel spreadsheets should not be relied on for budgeting and forecasting as they cannot provide an instant and accurate view of current and forecasted spend and are at risk of errors, raising questions over the integrity of the data. Local authorities need to replace spreadsheets with smart, versatile and collaborative budgeting and forecasting software solutions.”
79 per cent of survey respondents expect their budget monitoring processes to improve over the next three years, with reduced reliance on spreadsheets being cited as one of the top improvements sought by respondents. The anticipated improved budget monitoring processes may also be due to more councils considering devolving budgets down to local/neighbourhood committees in light of the Localism Act (2011). According to the survey, 56.9 per cent of respondents either have local/neighbourhood committees, are looking to introduce them or they are under consideration.
Roman Haluszczak, CPFA – Senior Manager, CIPFA Finance Advisory Network, adds, “The survey results suggest that the majority of local authority finance professionals are aware of their budgeting and forecasting challenges. With 92 per cent of survey respondents under pressure to cut costs, this will be a key driver for seeking process improvements and reducing Excel spreadsheet dependency.”
About CIPFA
CIPFA, the Chartered Institute of Public Finance & Accountancy, is the professional body for people in public finance. The Institute’s 14,000 members work throughout the public services, in national audit agencies, in major accountancy firms and in other bodies where public money needs to be managed effectively and efficiently. As the world’s only professional accountancy body to specialize in public services, CIPFA’s portfolio of qualifications are the foundation of a career in public finance.
About Advanced Business Solutions www.advancedcomputersoftware.com/abs
Advanced Business Solutions (Advanced) provides leading integrated business applications and services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies whilst continually improving corporate performance. Advanced prides itself on getting close to its customers by understanding their businesses and responding to their evolving needs.
Advanced’s software systems comprise core accounting/financial management, procurement, human resource and payroll systems, integrated with a range of collaborative, document management and business intelligence solutions to extend the value and effectiveness of the finance, human resource and payroll departments. These can be delivered as a managed or bureau service.
Customers are from both the public and private sectors and include Companies House, Newcastle City Council, WH Smith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS, RSPB and Great Ormond Street Hospital for Children NHS Trust.
Advanced Business Solutions is a division of Advanced Computer Software Group plc, a leading supplier of software and IT services to the health, care and business services sectors.
