Overview:

This one-day practical workshop is designed to increase commercial awareness and an understanding of the concepts of creating value within the authority. Participants will explore revenue streams available to a council and how income can be generated across the organisation. The workshop will also cover financial terminology and how to interpret and understand financial statements.

Course Objectives:

By the end of the workshop, delegates will be able to:

– Define how finance fits with the overall strategy of the council
– Understand key financial terminology
– Appreciate the authority’s financial position – Income, Expenditure, Balance Sheet
– Interpret and understand the authority’s financial statements from a commercial perceptive
– Explain revenue steams available to a council and how income can be generated across the organisation
– identify key performance drivers within the council

Course Content

Commercial Acumen

– Strategy & finance
– Financial Terminology
– Authority’s financial position - Income, Expenditure, Balance Sheet
– Interpreting Financial Statements: what does good look like?

Maximising Income

– Income generation constraints & opportunities
– Case study scenario - potential options for generating income available to a council
– Commercial application of income generation options including social enterprises and private sector partnerships

Action Plan

– You would be asked to create list of actions that you can take forward as a result of the training.