Essay on Making a Financial Case

4746 Words Apr 17th, 2014 19 Pages
ILM Level 5 Diploma in Management

Making a Financial Case

Gower College Swansea

Student ID: CTT8599

Contents

Introduction Page 3

Understanding financial concept used to Page 5 inform management decisions

Be able to make a financial case to inform Page 19

a management decision

Introduction
Business and Partnership Unit
The Business and Partnership Unit is client liaison team for of all existing and new partnerships with an ambition to deliver efficiencies and improve services. To evidence transparency of the Councils partnerships by implementing an approved monitoring regime. To provide
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The Department of Culture Tourism, Sport and Leisure (CTS&L) budget is based on broad financial assumptions (budget settlements, future savings, spending needs etc) for the coming years. Future business plan actions need to be based around ensuring the budget is met and service priorities are maintained. In 2014/15 the base budget is £15.7M, which has been reduced by approx £1M since the two years prior, through efficiencies.

The Business and Partnership Unit Managers (Researchers) budget surmounts to approx £1M of the CTS&L budget, split across 10 separate budget headings as below: • Business and Partnership Unit (Staffing) • LC Swansea • Wales National Pool Swansea • Swansea Bowls Stadium • Swansea Tennis Centre • Water Safety Operations • St Helens Ground • Oystermouth Road Car Park • Parks Lettings • Caravan Parks

The budgets are all revenue in nature, however all very unique to the services that they provide funding and receive income for. Whilst NET expenditure amounts to £1M, this is made up of £2M Expenditure and £1M Income. With income being a significant contributor to ensuring that budgets are achieved, it’s important that targets are closely monitored throughout the year and that budget managers have the tools, skills and understanding to interrogate and influence all spend and

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