This guide is for finance leaders in government departments and other public bodies. It sets out insights and good practice on how information can be reported to make better financial management decisions.
Jump to downloadsStrong financial management provides the foundation for government organisations to make informed decisions about budgeting and resource allocation, helping ensure public services provide good value for money.
Government organisations need real-time information to respond to unexpected events. Decision-makers need to rely on financial and non-financial information that not only looks backwards, but also forwards.
Compiling and presenting useful information is challenging and leaders need to think about whether the way they have reported previously is suitable.
The guide focuses on four key principles:
- Understand the purpose of reporting
- Set the standard for quality data
- Modernise reporting systems and processes
- Encourage positive behaviours
For each principle we set out what good looks like, and key actions and practical tips finance leaders can take. We have drawn insights from our back catalogue of work, the experiences of our audit teams, and the thoughts of a range of senior finance decision‑makers across government and beyond.
How to use this guide
Our guide is primarily for finance leaders and their teams within central government.
Actions and practical tips in the guide do not represent mandatory guidance, but complement existing guidance provided to finance teams across government by the Government Finance Function.
Illustrative case study examples showcase how organisations have developed approaches to overcome some of the challenges set out in the guide.
Please note: the PDF has some interactivity that will not work in full-screen mode on your browser. To view it in full-screen mode, download the PDF to your computer and open it in Adobe Acrobat.
Financial management in government series
This guide is part of a series supporting financial management in government. It is the last in a five-part series of guides, which follow the financial management lifecycle.
We have also published:
- Enablers of success – looks at the fundamental themes that underpin each stage of the financial management lifecycle
- Strategic planning and budgeting – sets out how finance leaders can plan strategically and realistically in the face of an uncertain landscape
- Allocating resources – focuses on how finance leaders can allocate resources effectively when resources are scarce and trade-offs need to be made
- Monitoring and forecasting – explains how finance leaders can monitor budgets and their performance and ensure forecasting is effective
