PRINCIPLE 10 – SOUND FINANCIAL AND ECONOMIC MANAGEMENT
“There should be sound financial and economic management throughout government and public institutions, and by all public officials, in order to ensure the optimal use of public resources and the implementation of policies that promote the well-being and prosperity of everyone.“
10.1 OUTCOME: Economic and financial policies, clearly linked to other plans and strategies, set objectives and measures to support long-term economic growth without negatively impacting on societal and environmental wellbeing, including intergenerational equity.
10.2 OUTCOME: Audits, both internal and external, are understood as important to monitor and provide assurance on the soundness and coherence of financial management, and the assessment and management of risk.
10.3 OUTCOME: Cooperation and partnership mechanisms are sought after to identify economies of scales, fair sharing of burdens and benefits and reduction of risks.
Start to assess your local authority against Principle 10 – Sound Financial and Economic Management