Financial strategy

Budget bids are often the default response from departments trying to manage cost pressures. However this approach is rarely successful due to other funding priorities and is unlikely to be supported by Treasury unless other options have been thoroughly explored.

Our client was experiencing funding issues and asked us to analyse its financial performance with a view to developing a cost pressures budget bid. We analysed the funding issues facing the department and grouped these into categories based on underlying causes. This enabled us to identify new funding options and shifted the emphasis away from a budget bid as the primary response. This work supported the department to develop a sustainable 10-year financial strategy and fed into its four-year plan (4YP).