Service Description: The Financial Management function provides a comprehensive range of financial and business support, services and advice to committees and directorates of the Council. We provide strategic support to service areas to deliver the Council's key priorities through effective budget management, medium term financial planning and an affordable capital strategy. We ensure compliance with external financial management and accounting standards including International Financial Reporting Standards. Treasury Management functions and Pension fund management requirements. We also work with the Resident Information and Consultation team to deliver an effective budget consultation process for residents, staff, partners and other stakeholders. The Business Effectiveness Unit within Financial Management, was formed in 2011 to bring together a number of corporate business management functions across the authority. The team brings leads on a range of disciplines and actively supports services in their application of Business Intelligence, Performance Management, Programme and Project Management, Risk Management, Value for Money, Business Planning and Data Quality. In addition, the unit provides reporting at a strategic level to Members and senior management in respect of the corporate priorities as set out in the Corporate Plan. The management of the council's internal audit contract is also managed from the unit.
Also known as:- Accountancy, Accounts, audit, Budget, Charges, effectiveness, Fees, performance, planning, risk, Treasury
Answer: Council Tax is a local charge levied on residential properties in the local area, and forms part of the funding for services provided by the Local Authority. Each property is included within one of eight valuation bands (A to H); the amount of Council Tax is based on the value of the property at April 1991. The charge is based on elements set by the Isle of Wight Council, the Hampshire Police Authority and your local town or parish council. Your council tax bill is the combined charge from all 3 elements.