09 September 2005
Local authorities are recognising the importance of financial specialists on their management team, research has found.
A survey published by CIPFA on September 9 found that 88% of chief financial officers are members of their authorities' corporate management team. It also found that 99% of CFOs have free access to management team members and feel they provide appropriate advice and support to their decision-making.
CIPFA chief executive Steve Freer said: 'The CFO needs to be at the heart of the authority's decision-making process and able to exercise influence within the top team and throughout the organisation.
'He or she must help the team to maintain an effective grip on the organisation's finances and its underlying financial management practices and arrangements.'
The survey also found that managerial structures are changing. Seventy-six per cent of CFOs report directly to the chief executive, 17% are either a chief officer or head of service reporting to a director, and 7% have other arrangements. Of CFOs, 92% also carry out the role of financial director.
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