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Financial Management and Effectiveness in Public Service Organizations: The CIPFA FM Model

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  • Sue Beauchamp
  • Carole Hicks

Abstract

Improving services in the public sector is not just about front-line delivery—effective governance and financial management are key drivers for public bodies on the improvement path. Regulatory frameworks are putting these elements in the spotlight as they seek to track additional investment and its impact on services. No longer just about accounting for the money and demonstrating stewardship, financial management in the public services is about giving the right decision support and enabling the right choices. Modern public bodies need to make sure they are financially literate throughout their operations to meet their organizational goals effectively. Self-assessment and improvement planning can work for financial management and a framework developed by public finance professionals in the UK's public sector is described in this article. The article draws upon the CIPFA FM Model that is to be launched in Summer 2004.

Suggested Citation

  • Sue Beauchamp & Carole Hicks, 2004. "Financial Management and Effectiveness in Public Service Organizations: The CIPFA FM Model," Public Money & Management, Taylor & Francis Journals, vol. 24(3), pages 185-191, June.
    • Handle: RePEc:taf:pubmmg:v:24:y:2004:i:3:p:185-191
    DOI: 10.1111/j.1467-9302.2004.00418.x
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    Cited by:

    1. Yue Wang & Honggen Zhu & Noshaba Aziz & Yu Liu, 2023. "Does Social Capital Improve the Effectiveness of Public Service? An Insight from Rural-to-Urban Migrants in China," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 165(2), pages 431-452, January.

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