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Financial Management Initiative

Volume 75: debated on Tuesday 12 March 1985

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asked the Chancellor of the Exchequer what is done under the financial management initiative to ensure that line managers are fully informed of all the capital assets under their management; and what is the system of reporting on the condition of these assets.

[pursuant to his reply, 8 March 1985]: One of the key objectives of the financial management initiative is to give line managers better information about the costs of all of their resources, including the costs of capital assets, and how they are used. Departments are developing their management accounts and information systems to this end. These arrangements, and those for monitoring the condition of assets, may take various forms depending on the Department's functions and the nature of its assets.