BUDGET SETTING METHODOLOGY Sample Clauses

BUDGET SETTING METHODOLOGY. 19.1 Prior to the commencement of each financial year following the commencement of the s75 Agreement, both Partners need to be satisfied that the other Partner’s methodology for setting the annual budget is robust and reliable. If they are not, the issue shall be escalated through the appropriate Dispute Resolution Procedure. Each Partner will agree the other’s methodology for setting the inaugural budget contribution; and future years’ budgets. The factors that will be considered include:  Clarity of the Services to be included in the Integrated Commissioning arrangement and risk share (Pooled Fund and Aligned Fund);  Verification of budget determined for each Service;  Assumed and modelled trends in demand;  Deliverability of the savings targets applied;  Sufficiency of the budget applied (e.g. compared with previous year outturn). 19.2 The Partners will agree:  A transparent approach to setting budgets shared between the Partners;  Validation of the key assumptions and approaches used by each Partner to determine the budget;  Plans for migration to a more consistent approach to budget setting and demand 19.3 Both Partners recognise the risk to resources from unmet need and rationed Services from previous years.
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BUDGET SETTING METHODOLOGY. 5.2.1 Both Partners need to be satisfied that the other Partner's methodology for setting the annual budget is robust and reliable. Each Partner will agree the other's methodology for setting the annual budget contribution; and future years' budgets. The factors that will be considered include: • Clarity of the Services to be included in the Integrated Commissioning Fund and risk shared (Pooled Fund and/or Aligned Fund); • Verification of budget determined for each service; • Assumed and modelled trends in demand; • Deliverability of the savings targets applied; • Changes in Funding/Allocations; • Accounting for changes in costs; • Consideration of approach to identification of savings; • Sufficiency of the budget applied (e.g. compared with previous year outturn).
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BUDGET SETTING METHODOLOGY. 5.2.1 In live running, both Partners need to be satisfied that the other Partner's methodology for setting the annual budget is robust and reliable. Each Partner will agree the other's methodology for setting the annual budget contribution, and future years' budgets. The factors that will be considered include: • Clarity of the Services to be included in the Integrated Commissioning Fund and risk shared (Pooled Fund and/or Aligned Fund). • Verification of budget determined for each service. • Assumed and modelled trends in demand. • Deliverability of the savings targets applied. • Changes in Funding/Allocations. • Accounting for changes in costs. • Consideration of approach to identification of savings. • Sufficiency of the budget applied (e.g. compared with previous year outturn). 5.2.2 The Partners, in live running, will: • Agree a transparent approach to setting budgets shared between the Partners. • Validate the key assumptions and approaches used by each Partner to determine the budget. 5.2.3 In live running, the Partners agree to assume a "fair proportions" contribution to the input of non-financial resources (staff, premises, equipment, support services etc.). Staffing, equipment, accommodation etc. resources provided by each Partner to the management and administration of the Integrated Commissioning Fund will be based, initially, on existing structures and will be reviewed annually as part of the annual budget setting process. 5.2.4 Both Partners acknowledge that the financial performance of the relevant budgets in the current year should be regarded as a key indicator of future years' risks; and of the scale of the savings targets agreed between the Partners. 5.2.5 Both Partners recognise the risk to resources from unmet need and rationed services from previous years. 5.2.6 Budget Setting will take account of the following boundaries: • Pooled Funds versus Funds outside the Pool, e.g. Co-Collaboration Funds. • Pooled Funds versus Aligned Funds. 5.2.7 The Partners' oversight and scrutiny functions (Integrated Finance Group, ICB Finance Investments and Resources Committee, Council Cabinet) will have the opportunity to challenge any changes proposed. 5.2.8 The basic principle is that budget allocations to the Integrated Commissioning Fund will not change (in-year) once they have been agreed. However, there may be circumstances where they are reviewed during the financial year and updated accordingly in recognition of national funding decisions of th...
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