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ARGUED COMMUNITY COUNCIL FINANCIAL REGULATIONS 1. General22. Accounting and audit (internal and external)43. Annual estimates (budget) and forward planning54. Budgetary control and authority to spend55.
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Value for money refers to the concept of ensuring that resources are used efficiently and effectively to achieve desired outcomes, providing the best possible results for the investment made.
Who is required to file value for money of?
Entities or organizations that are accountable for public funds, including government agencies and certain non-profit organizations, are required to file for value for money.
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To fill out the value for money report, organizations must collect relevant data on expenditures, assess outcomes against the investment made, and document their findings in the prescribed format.
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The purpose of value for money is to ensure accountability in the use of public resources, promote transparency, and enhance the effectiveness of programs by assessing whether they are delivering the expected results.
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Organizations must report information including the objectives of the spending, the costs involved, the outcomes achieved, and any measures taken to improve efficiency.
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