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Title |
Upgrade of Systems including Oracle Fusion |
Original Due Date |
31-Mar-2024 |
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Description |
Finance will work with external partners and other services to support the implementation of the Oracle Fusion general ledger replacement. The Income Management System will also be upgraded. |
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Link to LOIP Outcome or Guiding Principle |
Best value |
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Rationale |
This action will help to ensure that Finance deliver the support service to the Council in an efficient matter, meeting Best Value requirements. |
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Title |
Leases IFRS 16 Compliance |
Original Due Date |
31-Mar-2024 |
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Description |
Revision of processes and accounting to comply with the new IFRS 16. The IFRS 16 originally had a required compliance date of the 1st of April 2020, however, this has now been delayed by CIPFA LASAAC to 1 April 2024, meaning that the first set of annual accounts that the new standard will apply to is the 2024/25 financial statements. |
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Link to LOIP Outcome or Guiding Principle |
Prevention and early intervention |
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Rationale |
Revision to processes to ensure continued compliance with relevant accounting standards and the achievement of a clean audit report. |
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Title |
Compliance with Financial Management Code |
Original Due Date |
31-Mar-2024 |
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Description |
A self-assessment against the recently published CIPFA Financial Management Code will be performed and an action plan developed to ensure compliance. Internal Audit have provided a baseline assessment against the Code and the associated actions are being progressed. |
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Link to LOIP Outcome or Guiding Principle |
Prevention and early intervention |
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Rationale |
This action will support adherence to good practice in financial management and demonstration of financial sustainability.
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Title |
Support in Closing Financial Gap |
Original Due Date |
31-Mar-2026 |
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Description |
Finance will provide support in the development of a suite of measures to close the financial gap, in line with the Council's transformative strategy. It is planned to eradicate the gap between expenditure and funding over a planned number of financial years. This work will be undertaken in line with the 'East Dunbartonshire Forward in Partnership' approach as agreed by Council at its meeting in June 2022. |
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Link to LOIP Outcome or Guiding Principle |
Best value |
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Rationale |
This action will help the Council to operate within the available financial resources. |
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