Procurement is finance's concern, say public sector CFOs

14 June 2010

14 June 2010 | Lindsay Clark

Chief finance officers (CFOs) in the public sector consider the development and maintenance of procurement strategies as part of their duties.

In guidance issued by the Chartered Institute of Public Finance and Accountancy (Cipfa) procurement falls within the CFO remit. The guidance also says managing long-term commercial contract value is the responsibility of the CFO.

Meanwhile, a survey of 435 CFOs across the public sector by Cipfa found finance chiefs were expecting cuts to services as the government strives to reduce the £156 billion annual deficit.

The most popular options for efficiency savings were the redesign of services (63 per cent), while 62 per cent of those questioned believed reductions in back-office functions and staff were to be expected. Just under half (49 per cent) believed there would also be a cut in the number of senior staff.

Steve Freer, chief executive of Cipfa, said: “It’s clear that CFOs from across public services are expecting reductions in both services and jobs as a result of the squeeze on public finances. It is, therefore, more important than ever that finance teams work to reduce the impact of cuts on front-line services.”

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