Value for money
There is a requirement for authorities to demonstrate that they provide good value for money under the Local Audit and Accountability Act 2014 (‘A requirement that an audit of a relevant authority must include a value for money element’) and Best Value under the Local Government Act 1999 (‘A best value authority must make arrangements to secure continuous improvement in the way in which its functions are exercised, having regard to a combination of economy, efficiency and effectiveness’)
We also embrace the spirit of the Public Services (Social Value) Act 2012. You can find more information about the approach to Social Value by visiting our Commercial and procurement policies page.
We have a Value for Money Statement that is part of ongoing work to ensure that Value for Money is fully embedded in our culture.
We are also externally audited on whether we provide value for money - read the latest report.
A key factor in knowing how well you are performing is the ability to compare yourself with others and against your own previous performance. For us, this involves comparing ourselves with other similar local authorities and this process is known as benchmarking.
Previously, local authorities were required to collect a standard set of performance information. This enabled Councils to compare their performance against each other relatively easy. This set of nationally prescribed measures was removed as part of the Government's drive of "reducing the burden" placed on local authorities by central government.
For more information please email our Planning and Performance Team Performance@somerset.gov.uk