Government intervention

The Finance Recovery Board oversees work to deal with the financial challenges we face, responding to the financial directions made by the Government. It is chaired by Nicole Wood, Essex County Council Commissioner.

The board meets once every month. It reports to the Improvement and Recovery Board.

Purpose

The board oversees our improvement plan to deliver:

• an action plan to achieve financial sustainability and to close any short-term and long-term budget gaps we identify across the period of our medium-term financial strategy
• an action plan to make sure our capital, investment and treasury management strategies are sustainable and affordable
• a strict debt reduction plan
• an updated minimum revenue provision policy
• an action plan to make sure we are complying with all relevant financial management rules and guidelines
• a suitable scheme of delegations for financial decision-making

The board will also enable the Finance Commissioner to provide assurance that we have proper financial planning and management arrangements in place to achieve these objectives.

The full terms of reference can be downloaded below.

Meeting documents