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Elements and Performance Criteria

1. Develop council's financial plans
   • The achievement of council's goals and objectives are supported by financial plans that meet the requirements of strategic or operational plans, ensure effective operation of council and reflect council's priorities and revenue policies.
   • Key financial performance indicators and cost elements are identified and quantified to eliminate or reduce wastage.
   • Cost-benefit analyses are prepared for major cost items.
2. Negotiate budgets with divisions and work groups
   • Budget items are prioritised with department heads in line with council's strategic and operational plans.
   • Subgroup budgets are consolidated into a divisional budget in line with divisional priorities.
   • Budget is negotiated with council based on cost/ benefit to the council and council requirements.
3. Allocate, approve and show accountability for expenditure
   • Financial resources are allocated as agreed in the operational plan.
   • Expenditure management meets the financial accountability requirements of council.
   • Expenditure is kept within budget and any potential overruns are identified and budget is renegotiated accordingly.
   • Expenditure is authorised within financial authority limits established by council.
4. Justify proposals for expenditure to council
   • Estimates of costs and benefits are supported by valid, relevant information and include alternative courses of action.
   • The net benefits over time likely to be achieved from the expenditure are clearly indicated in recommendations, and future variation in levels of activity is taken into account.
   • Presentation is clear, concise and in an appropriate format.
   • Where challenges to the proposal are made, further explanation is given to promote acceptance.
5. Monitor and revise priorities for financial resource allocation
   • Financial allocation is continually monitored against council objectives and priorities, ensuring optimum service delivery.
   • Reallocation of resources is undertaken in a consultative manner, giving details of rationale for reallocation.
   • Unspent resources are consolidated across council's activities for reallocation if and as required.
   • Currently accepted and proven financial management principles are applied at all levels of financial transactions.
6. Seek out alternative or additional financial opportunities
   • Effective and comprehensive methods for discovering alternative or additional sources of funding are employed.
   • Further sources of funding are identified and evaluated against current funding sources and selected where they better meet requirements of council plans, strategies and ventures.

Required Skills

This describes the essential skills and knowledge and their level required for this unit

Required Skills

budgeting financial analysis and costbenefit analysis written and verbal communication presentation negotiation and consultation problem solving

Required Knowledge

councils political social economic and environmental context councils strategic or business plans goals and objectives councils financial policies procedures and financial authority limits relevant local government financial reporting and accounting requirements Australian accounting standards financial management principles existing and potential sources of funding

Evidence Required

Overview of assessment requirements	A person who demonstrates competency in this unit will be able to perform the outcomes described in the Elements to the required performance level detailed in the Performance Criteria The knowledge and skill requirements described in the Range Statement must also be demonstrated For example knowledge of the legislative framework and safe work practices that underpin the performance of the unit are also required to be demonstrated
Critical aspects of evidence to be considered	Developing effective workable budgets within organisational and financial constraints Ongoing and effective monitoring of budget Basing adjustments to financial plansbudget on accurate and defensible costbenefit information and designing them to improve financial performance and position of council
Context of assessment	May be undertaken on the job or in a simulated work environment
Method of assessment	The following assessment methods are suggested observation of the learner performing a range of workplace tasks over sufficient time to demonstrate handling of a range of contingencies written andor oral questioning to assess knowledge and understanding completion of workplace documentation thirdparty reports from experienced practitioners completion of selfpaced learning materials including personal reflection and feedback from trainer coach or supervisor
Evidence required for demonstration of consistent performance	Consistent evidence across a range of activities involved in annual budgetary cycle
Resource implications	Access to a workplace or simulated case study that provides the following resources relevant council documents such as strategic and operational plans upon which budget will be based relevant local government financial reporting and accounting requirements

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Range Statement

The Range Statement relates to the Unit of Competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the Performance Criteria is detailed below.
Financial plans may include:	asset replacement asset sales operational expenditure corporate plan objectives cash flow management and borrowing entrepreneurial ventures rating strategies

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